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
Banque du Caire introduces exclusive ‘Tharwa ELECT’ tier for high-net-worth clients – Dailynewsegypt
As part of a comprehensive strategy and ambitious plan to expand its range of competitive banking products and services, Banque du Caire has announced the launch of the “Tharwa ELECT” tier. This new offering is designed to provide a unique
CBE directs banks to facilitate account opening for non-resident foreigners – Dailynewsegypt
The Central Bank of Egypt (CBE) has instructed banks to facilitate the process of opening accounts for non-resident foreigners in Egypt. These accounts will allow foreigners to access a variety of banking services without compromising the regulations and standards governing
Total financial position of Egyptian banking sector increases to EGP 17.8trn in Q1 2024 – Dailynewsegypt
Household sector holds 74.2% of EGP 11.534trn in customer deposits
Inflation dynamics normalizing to pre-March 2022 patterns: CBE – Dailynewsegypt
Inflation is projected to stabilise around current levels in 2024, with significant decline anticipated in H1 2025