CBE extends fee exemption for digital transfers via IPN, InstaPay for 3 months
In line with Egypt’s Vision 2030 to foster digital transformation, the Central Bank of Egypt (CBE) has issued a new set of decrees extending the exemption of fees and commissions for bank transfers made via electronic channels, including internet banking
Banque Misr’s mortgage portfolio hits EGP 21bn for 145,000 clients in 2024
Banque Misr has announced a significant increase in its mortgage portfolio, which rose by approximately EGP 3bn in 2024, bringing the total portfolio to EGP 21bn. This growth benefits approximately 145,000 clients, making the bank’s mortgage portfolio one of the
CBE increases transaction limits for financial inclusion accounts
The Central Bank of Egypt (CBE) has announced an increase in the maximum transaction limits for financial inclusion accounts, which apply to withdrawals, outgoing transfers, debit operations, and purchases. Under the new regulations, the daily transaction limit for individual accounts
CBE to offer $800m T-bill auction to settle previous issuance
The Central Bank of Egypt (CBE) will hold a Treasury bill (T-Bill) auction denominated in US dollars on Monday, offering $800m in new debt. The proceeds from this auction will be used to settle the maturity of a prior T-Bill
Al Ahly Capital boosts stake in Easy Lease to 97.55% in strategic acquisition
Al Ahly Capital Holding, the investment arm of the National Bank of Egypt (NBE), has acquired an additional 93.1 million shares—representing 46.55% of Easy Lease’s capital—from El Sewedy Capital Holding. This acquisition significantly strengthens Al Ahly Capital’s ownership in Easy
CBE mandates simplified forms for banking expenses, commissions in customer contracts
The Central Bank of Egypt (CBE) has issued a directive mandating banks to include simplified forms in contracts for banking products and services. These forms, provided as appendices, will outline the essential details of the offered products or services, including
CBE hosts seminar on supervisory frameworks, risk management with 110 participants from African central banks
In line with Egypt’s ongoing commitment to supporting African nations, particularly in the economic and banking sectors, the Central Bank of Egypt (CBE) recently organized a virtual seminar titled “Effective Supervision: Building Supervisory Frameworks and Risk Management.” The two-day seminar
CIB leads syndicated loan of EGP 9bn for Madinet Masr in partnership with 6 banks
The Commercial International Bank—Egypt (CIB), acting as the lead arranger and financier, has successfully arranged a syndicated loan worth EGP 9bn for Madinet Masr Housing and Development Company, a key player in Egypt’s real estate sector. This loan, which spans
CBE expected to keep interest rates unchanged for sixth consecutive meeting
The Monetary Policy Committee (MPC) of the Central Bank of Egypt (CBE) is set to hold its final meeting of the year on Thursday, to decide on key interest rates, which serve as primary indicators of short-term trends for the
Banks in Egypt report EGP 426.911bn in net profits for 9M 2024
The Central Bank of Egypt (CBE) has announced that banks operating in the Egyptian market achieved net profits of EGP 426.911bn in the first nine months of 2024. According to the latest report from the CBE, the total net return