CBE withdraws EGP 1.24trn from 24 banks in open market operation at 27.75%
The Central Bank of Egypt (CBE) withdrew EGP 1.24tn from 24 banks in open market operations last week, at an interest rate of 27.75%. This action follows the CBE’s recent decision to amend its bid acceptance policies. CBE issued new
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
EFG Hermes concludes advisory on EGP 450m issuance for EFG Corp-Solutions
EFG Hermes, an EFG Holding company and the leading investment bank in the Middle East and North Africa (MENA), announced Monday that its investment banking division successfully concluded advisory on the second issuance valued at EGP 450m, with a tenor
EFG Hermes successfully completes sale of Helmerich & Payne’s $197m stake in ADNOC Drilling
EFG Hermes, an EFG Holding Company and the leading investment bank in the Middle East and North Africa (MENA) announced Monday that its investment banking division has successfully completed an accelerated book build (ABB) on behalf of Helmerich & Payne,
Banque du Caire grants Kredit EGP 100m to support SMEs
Kredit, a subsidiary of GB Capital, announced on Sunday that it secured EGP 100m in funding from Banque du Caire. This funding aligns with the company’s commitment to supporting the growth of small and medium-sized enterprises (SMEs), which play a
Eissa appointed as CI Capital’s non-executive chairperson
CI Capital Holding for Financial Investments announced appointing Ahmed Eissa as a non-executive chairperson, representing Banque Misr. Eissa will succeed Mohamed El-Etreby, who was thanked for his distinguished efforts and outstanding contributions during his leadership of the company. CI Capital’s
EBI highlights strong achievements in FY 2023/24, expanding reach across Africa
The Egyptian Banking Institute (EBI), the official training arm of the Central Bank of Egypt, has announced its achievements for the fiscal year (FY) 2023/24, highlighting its commitment to developing human capital within the banking sector in Egypt and across
Egyptian banking sector shows strong financial indicators, surpassing regulatory benchmarks: CBE
A financial stability report issued by the Central Bank of Egypt revealed the continued resilience of Egypt’s financial system—both banking and non-banking sectors—in performing its core function of financial intermediation throughout fiscal year 2023 and into the first quarter of
CBE reports $9.7bn BoP surplus for FY 2023/24
Despite the current economic and political challenges on the global front, the transactions of the Egyptian economy with the external world achieved an overall BoP surplus of $9.7bn during FY 2023/2024, according to the Central Bank of Egypt (CBE). The
Al-Mashat, Kouchouk review efforts to resolve financial entanglements between NIB, Egypt Post – Dailynewsegypt
Egypt’s Minister of Planning, Economic Development, and International Cooperation, Rania Al-Mashat, and Minister of Finance, Ahmed Kouchouk, met at the Ministry of Finance headquarters in the New Administrative Capital to discuss the progress of measures aimed at resolving financial entanglements