CBE to launch $900m T-bill auction
The Central Bank of Egypt (CBE) will conduct a $900m local treasury bill auction tomorrow, Monday. These US dollar-denominated T-bills will mature on 2 December 2025. The proceeds from this auction will be used to settle a previous auction held
AAIB, IFC, EBRD, and BII launch $500m sustainability bond to advance climate finance, support MSMEs
The Arab African International Bank (AAIB) has issued a $500m sustainability bond, backed by investments from IFC, the European Bank for Reconstruction and Development (EBRD), and British International Investment (BII). This initiative aims to advance Egypt’s green transition while supporting
MSMEDA partners with banks to offer Islamic financing for small enterprises: CEO
Basel Rahmy, CEO of Egypt’s Micro, Small, and Medium Enterprises Development Agency (MSMEDA), announced Monday that the agency partnered with several banks to provide Islamic financing solutions for small enterprises. These banks include Faisal Islamic Bank of Egypt, United Bank,
ADIB Egypt invests EGP 1bn in technological infrastructure, digital transformation
Abu Dhabi Islamic Bank Egypt (ADIB) has announced plans to invest approximately EGP 1bn in technology and digital transformation, alongside expenditures on cybersecurity enhancements. This announcement was made during the bank’s participation in the 28th Cairo ICT Exhibition, held from
Banque Misr arranges EGP 2.8bn worth of syndicated funding to Landmark Development
A banking alliance, led by Banque Misr, provided syndicated financing worth EGP 2.8bn to Landmark Developments Company, with the participation of EG Bank and Suez Canal Bank as lenders. the initial lead arranger, financing marketer, financing agent, security agent,
ADIB-Egypt receives Global Finance Magazine’s “Best Islamic Financial Institution in Egypt” award for 7th year
Abu Dhabi Islamic Bank-Egypt (ADIB-Egypt) received Global Finance Magazine’s “Best Islamic Financial Institution in Egypt” award for the seventh consecutive year, marking the bank’s ongoing pioneership in excellence and leadership. The accolade was accepted by ADIB-Egypt’s CEO and Managing Director
Suez Canal Bank’s net profits grow 130% to EGP 3.1bn in September 2024
Akef El Maghraby, CEO and Managing Director of Suez Canal Bank, has stated that the bank’s net profits increased to EGP 3.1bn in September 2024, compared to EGP 1.4bn in September 2023. The growth rate was 130%, supported by a
65.5% increase in Egyptian remittances during August: CBE
Remittances from Egyptians working abroad surged by 65.5% in August 2024, reaching around $2.6bn, up from approximately $1.6bn in August 2023. According to the Central Bank of Egypt (CBE), remittances saw a significant increase of 76.2% over July and August
ABE injects EGP 39.8bn into small, micro-enterprises in September
The Agricultural Bank of Egypt (ABE) concluded the third quarter of this year with significant growth in loans allocated to funding SME activities. The bank stimulates various productive sectors to create a competitive national industry in all fields, enhancing local
Suez Canal Bank opens its 53rd branch in Menoufeya’s Shibin El-Kom
Suez Canal Bank inaugurated its latest branch in Shibin El-Kom, Menoufeya to provide its banking services and products to a larger customer base. This aligns with the directions of CBE and Egypt’s Vision 2030 to spread financial inclusion across the