Financial soundness indicators highlight resilience of Egypt’s banking sector: CBE
The Central Bank of Egypt (CBE) has confirmed that the latest Financial Soundness Indicators (FSIs) reflect the resilience and robustness of the country’s banking sector, which continues to serve as a crucial pillar for achieving economic, financial, and monetary stability.
Local liquidity in Egypt’s banking sector increases by EGP 2.46trn in 11M 2024
Egypt’s banking sector saw a significant increase in local liquidity, rising to EGP 11.34trn in November 2024, a boost of EGP 2.46trn from the EGP 8.88trn recorded in December 2023. The Central Bank of Egypt (CBE) reported that the money
Egypt’s banking sector records $5.95bn net foreign asset surplus in November 2024
The Central Bank of Egypt (CBE) announced that the banking sector’s net foreign assets (NFA) reached a surplus of $5.95bn (EGP 295.6bn) in November 2024, down from a surplus of $9.2bn (EGP 450.861bn) in October 2024. This marks a continued
CBE authorizes banks to open financial inclusion accounts
The Central Bank of Egypt (CBE) has granted banks permission to open financial inclusion accounts in foreign currencies for individuals and micro-enterprises classified as low-risk clients under categories A and B, as per the November 2023 circular. Banks are also