CBE launches Banking Reform, Development Fund
As part of its ongoing efforts to advance Egypt’s banking sector in line with international best practices, the Central Bank of Egypt (CBE) has announced the launch of the Banking Reform and Development Fund, along with the formation of its
saib participates in EGP 2.1bn syndicated loan for Tameer Developments’ Azad Views project
Saib Bank has joined a consortium of banks to arrange and underwrite a syndicated loan worth EGP 2.1bn for Tameer Real Estate Developments, aimed at financing part of the investment cost for the second and third phases of the company’s
CBE governor meets AFI chief to discuss financial inclusion progress
Hassan Abdalla, Governor of the Central Bank of Egypt (CBE), met with Alfred Hannig, Chief Executive Officer of the Alliance for Financial Inclusion (AFI), on 7 April, in the presence of several CBE officials. During the meeting, Governor Abdalla expressed
AAIB announces robust 2024 results, net profits hits $301m
A $301m net profit for 2024 has been announced by the Arab African International Bank (AAIB), driven by its shift towards a liabilities-driven market approach. Tamer Waheed, Vice Chairperson and Managing Director, said: “Our shift, towards a liabilities driven market
AAIB announces robust 2024 results, net profits hits $301m
A $301m net profit for 2024 has been announced by the Arab African International Bank (AAIB), driven by its shift towards a liabilities-driven market approach. Tamer Waheed, Vice Chairperson and Managing Director, said: “Our shift, towards a liabilities driven market
US dollar surges EGP 0.53 at Sunday close
The official exchange rate of the US dollar at the Central Bank of Egypt (CBE) surged by EGP 0.53 on Sunday, closing at EGP 51.0564 for buying and EGP 51.1944 for selling, up from EGP 50.5296 and EGP 50.6669, respectively,
United Bank approves 2024 financial statements, reviews growth, expansion plans
United Bank held its General Assembly meeting under the chairmanship of Omar Mehana, Chairperson of the Board, alongside Ashraf El-Qadi, CEO and Managing Director, with the participation of board members and shareholders. The meeting reviewed and approved the bank’s financial
Net foreign assets in Egypt’s banking sector rise by $1.5bn in February 2025
The Central Bank of Egypt (CBE) announced that net foreign assets within the Egyptian banking system rose by approximately $1.5bn during February 2025, reaching $10.17bn (equivalent to EGP 515.856bn), up from $8.7bn (EGP 437.261bn) in January. According to a recent
CBE launches annual Women’s Financial Inclusion Event
As part of its commitment to enhancing women’s access to formal financial services, the Central Bank of Egypt (CBE) has launched the annual “Women’s Financial Inclusion Event.” The event, which runs from March 8—coinciding with International Women’s Day—until the end
WE, CIB forge strategic partnership to deliver cutting-edge digital financial services
Egyptian telecommunications and IT services provider WE has entered into a strategic partnership with the Commercial International Bank (CIB), Egypt’s largest private-sector bank, through the signing of a memorandum of understanding. This collaboration is set to redefine how WE customers