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CBE activates electronic link between Egyptian banks, COMESA countries

The Central Bank of Egypt (CBE) held a workshop attended by 60 representatives of the Export Development Authority (EDA), members of export councils, chambers of commerce, business associations and many companies working with Common Market for Eastern and Southern Africa (COMESA) countries to familiarise them with the electronic link system between Egyptian banks and African …

Daily News Egypt

CBE lowers interest rates 1% for the first time since floatation

The Central Bank of Egypt’s (CBE) Monetary Policy Committee (MPC) decided to lower the overnight deposit rate, the overnight lending rate, and the rate of the Central Bank of Egypt’s (CBE) main operation by 100 basis points to 17.75%, 18.75%, and 18.25% respectively. The discount rate was also reduced by 100 basis points to 18.25%. …

Mohamed Samir

CBE asks banks to monitor some customer accounts

The Central Bank of Egypt (CBE) requested that banks operating in the local market monitor the accounts to which insurance dues and pensions are transferred to. In a letter to the banks, Gamal Negm, deputy governor of the CBE, said that the CBE has received information confirming the existence of a number of bank accounts …

Daily News Egypt

CBE extends tourism support initiative to December 2018

The Central Bank of Egypt (CBE) decided to extend its tourism support initiative to December 2018, an initiative that was originally launched in December 2015, according to a press statement released by the bank on Thursday. The initiative aims to provide financing facilities to tourism-related activities, including the construction and renovation of hotels and tourist …

Mohamed Samir