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
Egyptian banking alliance grants EGP 4.235bn to Al-Zahi Group for development projects
Three leading Egyptian banks—the National Bank of Egypt (NBE), Banque Misr, and QNB AlAhli—have extended joint financing worth EGP 4.235bn to Al-Zahi Group. This financing aims to support key development projects, with NBE serving as the lead arranger, financing marketer,
Suez Canal Bank provides Ashry Steel Group with EGP 2.35bn credit facility to support expansion
Suez Canal Bank has signed a cooperation protocol to provide Ashry Steel Group with credit facilities valued at EGP 2.35bn. The funding aims to support the group’s working capital needs, enabling its expansion and increasing its capacity to meet domestic
CBE hosts inaugural meeting of African Financial Stability Committee
In line with presidential directives to boost Egyptian-African cooperation and integration, the Central Bank of Egypt (CBE) hosted the inaugural meeting of the African Financial Stability Committee (AFSC) from December 9–11, 2024. Under the leadership of CBE Governor Hassan Abdalla,
CBE reports decline in annual core inflation to 23.7% in November
The Central Bank of Egypt (CBE) has reported a slight decrease in annual core inflation, which dropped to 23.7% in November 2024, down from 24.4% in October 2024. Monthly core inflation for November 2024 stood at 0.4%, a decrease from
CIB Egypt launches Apple Pay for Faster, Safer, and more private payment experience
Commercial International Bank (CIB) Egypt, a pioneer private-sector bank in offering comprehensive financial services to individuals, businesses, and institutions in Egypt, has introduced Apple Pay to its customers. This innovative solution provides a safer, more secure, and private way to