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CBE governor denies resignation

The governor of the Central Bank of Egypt (CBE) Farouk Al-Oqda denied tendering his resignation after attending the cabinet’s economic committee meeting Sunday. Rumours concerning the resignation of Al-Oqda spread after President Morsy’s meeting with Hisham Ramez, deputy governor of the CBE. State TV reported Saturday that Al-Oqda resigned and that he will be replaced …

Liliana Mihaila

SCAF-instated CBE law modifications to be confirmed by Morsy

President Morsy will issue a declaration in a few days to amend 2 articles of the presidential decree number 64 for 2004 governing the Central Bank of Egypt, according to state-owned Al-Ahram. The cabinet has already approved the modification to the law that was issued by the Supreme Council of Armed Forces (SCAF) last year. …

Fady Salah

Electronic signature technology to be applied November

The banks as well as the stock market are ready to implement electronic signature technology, which is to be inaugurated by November, capital market expert, Moustafa Badra, told the Daily News Egypt. An electronic signature can be as simple as a typed name or a digitised image of a handwritten signature; it can facilitate the …

Hend El-Behary

For the seventh time: CBE fixes interest rates on deposits and loans

In its meeting Thursday, the monetary policy committee in the Central Bank of Egypt has decided to fix the interest rates on deposits at 9.25 per cent and on the one night lending at 10.25 per cent for the seventh time since February, in an attempt to maintain the bank’s monetary policy and to control …

Mohamed Salah

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