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
Banks, companies offer EGP 73.09bn under ‘Affordable Housing Initiative’ until August – Dailynewsegypt
Banks and mortgage companies participating in the Affordable Housing Initiative have provided financing worth EGP 73.09bn to more than 583,700 clients until August 2024. According to a report from the Social Housing and Mortgage Finance Support Fund, 22 participating banks
CBE to decide on interest rate today amid expectations of third consecutive hold – Dailynewsegypt
The Central Bank of Egypt (CBE) will determine on Thursday, the fate of the Egyptian pound’s interest rate. Market analysts widely anticipate that the CBE will opt to maintain the current rates for the third consecutive time. The Monetary Policy
Al-Mashat, World Bank discuss expanding partnership – Dailynewsegypt
Egypt’s Minister of Planning, Economic Development and International Cooperation, Rania A. Al-Mashat, met with World Bank Country Director for Egypt, Yemen, and Djibouti, Stephane Guimbert, on Tuesday to discuss expanding the strategic partnership between the two institutions. The meeting, which
Egypt to launch first digital bank by Q4 2024 following CBE’s approval – Dailynewsegypt
The Information and Decision Support Center (IDSC) of the Egyptian Cabinet has announced that Egypt is set to launch its first digital bank in the fourth quarter of 2024. This follows the initial approval granted by the Central Bank of
Egyptian banking sector records $13.25bn NFA surplus in July, marking continued growth – Dailynewsegypt
The Central Bank of Egypt (CBE) announced that the net foreign assets (NFA) of the Egyptian banking sector achieved a surplus of $13.25bn (EGP 644.764bn) in July 2024. This marks an increase from the previous month’s surplus of $13.02bn (EGP
ADCB Egypt partners with PaySupp to offer supply chain financing solutions – Dailynewsegypt
Abu Dhabi Commercial Bank – Egypt (ADCB Egypt) has partnered with financial technology company PaySupp to provide innovative financing solutions for corporate supply chain vendors. The agreement, signed by Ihab El Sewerky, Managing Director and CEO of ADCB Egypt, and
FABMISR profits surge 139% to EGP 15.8bn in H1 2024 – Dailynewsegypt
First Abu Dhabi Bank Misr (FABMISR) has announced strong financial results for the first half of 2024 (H1 2024), with net profit reaching EGP 15.8bn, representing a significant 139% increase compared to the same period last year. The bank’s performance,
CIB exits investment in Egypt Otsuka Pharmaceuticals, selling stake to Otsuka Group – Dailynewsegypt
Commercial International Bank-Egypt (CIB), Egypt’s leading private-sector bank, has announced the successful completion of its planned exit from Egypt Otsuka Pharmaceuticals (EOP), a leading player in the pharmaceutical industry and a member of the Otsuka Group. The divestment, which saw