CBE to offer $800m T-bill auction to settle previous issuance
The Central Bank of Egypt (CBE) will hold a Treasury bill (T-Bill) auction denominated in US dollars on Monday, offering $800m in new debt. The proceeds from this auction will be used to settle the maturity of a prior T-Bill
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
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
Egypt’s remittances hit $23.7bn in 10M 2024, marking 45.3% growth
The Central Bank of Egypt (CBE) reported that remittances from Egyptians working abroad reached $23.7bn during the period from January to October 2024, representing a 45.3% increase compared to $16.3bn during the same period in 2023. This significant growth is
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
Madbouly directs efforts to forge balanced trade agreements with Africa
Egypt’s Prime Minister Mostafa Madbouly recently chaired a meeting of the Permanent Higher Committee for Monitoring Egyptian-African Relations, attended by Egypt’s economic ministers and other relevant government officials. The session, part of the government’s ongoing efforts to strengthen Egyptian-African ties,
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
Egyptian banks launch Apple Pay tokenization
Several major Egyptian banks have activated card tokenization services through Apple Pay, following the Central Bank of Egypt’s (CBE) February 2023 approval of regulations for this technology. National Bank of Egypt, Banque Misr, and Commercial International Bank (CIB) are among