MSMEDA, World Bank partner to upgrade Egyptian entrepreneurship eco-system: Rahmy
Bassel Rahmy, CEO of the Micro, Small and Medium Enterprise Development Agency (MSMEDA), emphasized enhancing Egyptian startups with both financial and technical support, by working on developing innovative ideas to reach the commercialized stage. “Such set of supportive programs targeting
CBE conducts training programme for calibres from Djibouti’s central bank
The Central Bank of Egypt (CBE) conducted a training programme for calibres from the Central Bank of Djibouti (CBD) covering the latest operational systems employed in key areas, including the International Transactions Reporting System (ITRS) in Egypt – a primary
CIB reports Q3 standalone revenues of EGP 25.2bn
The Commercial International Bank – Egypt (CIB) has reported third-quarter 2024 standalone revenues of EGP 25.2bn, up 98% from third-quarter 2023. The bank’s nine-month 2024 standalone revenues were EGP 71.4bn, up 87% from the same period in 2023, on the
CBE receives 28 offers worth €922.8m to cover local euro-denominated T-bills issuance
The Central Bank of Egypt (CBE) received 28 offers worth €922.8m to cover an issuance of local treasury bills denominated in the European currency. CBE launched a tender worth €600m on Monday, on behalf of the Ministry of Finance,
United Bank to offer 30% on EGX in Q4
United Bank will offer 30% of its shares on the Egyptian Exchange (EGX) during the last quarter of this year. According to a statement issued by the bank on Monday, CI Capital has been appointed to promote and cover
EGX mandates United Bank to complete offering within six months of listing
The Securities Listing Committee of the Egyptian Exchange (EGX) has mandated that United Bank must adhere to clauses 1, 2, and 3 of Article 7 of the listing rules. The bank is required to complete the registration procedures with the
Suez Canal Bank offers EGP 1.2bn credit facility to Madkour Group
Suez Canal Bank has signed a credit facility agreement worth EGP 1.2bn with Madkour Group. This collaboration aims to expand the bank’s partnership base by offering innovative and flexible financing solutions to various institutions, helping them grow their businesses and
CBE issues guidelines for tourism support initiative
The Central Bank of Egypt (CBE) has issued the guidelines for the tourism support initiative, previously announced by the Egyptian government, to allocate EGP 50bn, funded by the Ministry of Finance. According to a circular from the Central Bank, the
CBE withdraws EGP 1.24trn from 24 banks in open market operation at 27.75%
The Central Bank of Egypt (CBE) withdrew EGP 1.24tn from 24 banks in open market operations last week, at an interest rate of 27.75%. This action follows the CBE’s recent decision to amend its bid acceptance policies. CBE issued new
CBE authorizes banks to open financial inclusion accounts
The Central Bank of Egypt (CBE) has granted banks permission to open financial inclusion accounts in foreign currencies for individuals and micro-enterprises classified as low-risk clients under categories A and B, as per the November 2023 circular. Banks are also