CBE issues guide to identify true bank customer beneficiaries
The Central Bank of Egypt (CBE), in cooperation with the Egyptian Money Laundering and Terrorist Financing Combating Unit (EMLCU), has issued a guide to help banks identify the true beneficiaries of their customers, addressing various methods used to conceal their
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
ADIB opens 72nd branch at Mall of Egypt
Abu Dhabi Islamic Bank – Egypt (ADIB) has opened its 72nd branch inside Mall of Egypt, further expanding its network across Egypt. This new branch is part of the bank’s comprehensive strategy for growth and development, aimed at offering integrated
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