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
Saudi Arabia ranks 2nd among Egypt’s trading partners in Q1 2024
The Central Bank of Egypt (CBE) said that the Kingdom of Saudi Arabia ranked second among Egypt’s top trading partners until the end of the first quarter (Q1) of 2024, with trading worth $5.209bn, including $3.871bn imports and$1.338bn exports.
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
Egyptian banking sector shows strong financial indicators, surpassing regulatory benchmarks: CBE
A financial stability report issued by the Central Bank of Egypt revealed the continued resilience of Egypt’s financial system—both banking and non-banking sectors—in performing its core function of financial intermediation throughout fiscal year 2023 and into the first quarter of
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
Gold prices in Egypt drop 1.3% over last week – Dailynewsegypt
Gold prices in Egypt continued to fluctuate below EGP 3,400 per gram as the precious metal lost upward momentum following a global price decline. This drop was influenced by better-than-expected US employment data, while no local factors currently support a
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
Ministry of Finance to issue EGP 506.5bn in T-bills, bonds in September – Dailynewsegypt
The Egyptian Ministry of Finance plans to issue 26 treasury bills and bond offerings worth EGP 506.5bn in September. This includes 16 treasury bill offerings totalling EGP 480bn and 10 bond offerings valued at EGP 26.5bn. The Central Bank of
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