CBE plans to establish fund to support producers in various sectors: Al-Wazir
Kamel Al-Wazir, Deputy Prime Minister for Industrial Development and Minister of Industry and Transport, reiterated Egyptian banks’ commitment to providing the financing necessary for production and industrial facilities. This initiative aims to redirect focus from consumer financing to industrial growth.
CBE to launch $900m T-bill auction
The Central Bank of Egypt (CBE) will conduct a $900m local treasury bill auction tomorrow, Monday. These US dollar-denominated T-bills will mature on 2 December 2025. The proceeds from this auction will be used to settle a previous auction held
Egypt’s President reviews economic progress with PM, CBE Governor
President Abdel Fattah Al-Sisi met Monday with Prime Minister Mostafa Madbouly and Central Bank of Egypt Governor Hassan Abdalla to review Egypt’s macroeconomic indicators. The meeting followed a recent visit by the International Monetary Fund (IMF) and its reaffirmation of
ADIB Egypt invests EGP 1bn in technological infrastructure, digital transformation
Abu Dhabi Islamic Bank Egypt (ADIB) has announced plans to invest approximately EGP 1bn in technology and digital transformation, alongside expenditures on cybersecurity enhancements. This announcement was made during the bank’s participation in the 28th Cairo ICT Exhibition, held from
Strong expectations for fifth consecutive EGP interest rate hold
The Monetary Policy Committee (MPC) of the Central Bank of Egypt (CBE) is expected to hold its penultimate meeting of the year on Thursday to decide on key interest rates, which are critical indicators of the Egyptian pound’s short-term trends.
65.5% increase in Egyptian remittances during August: CBE
Remittances from Egyptians working abroad surged by 65.5% in August 2024, reaching around $2.6bn, up from approximately $1.6bn in August 2023. According to the Central Bank of Egypt (CBE), remittances saw a significant increase of 76.2% over July and August
Egypt’s annual urban inflation edges up slightly to 26.5% in October
The Central Agency for Public Mobilization and Statistics (CAPMAS) has reported a slight increase in Egypt’s annual urban inflation to 26.5% in October 2024, up from 26.4% in September. Across the country, annual inflation climbed to 26.3% in October from
Suez Canal Bank opens its 53rd branch in Menoufeya’s Shibin El-Kom
Suez Canal Bank inaugurated its latest branch in Shibin El-Kom, Menoufeya to provide its banking services and products to a larger customer base. This aligns with the directions of CBE and Egypt’s Vision 2030 to spread financial inclusion across the
Tadamun Microfinance, EBank sign EGP 50m worth of credit facility
Tadamun Microfinance Foundation, which finances women’s micro-enterprises, announced signing a EGP 50m credit facility with the Export Development Bank of Egypt (EBank). The aim is to meet the needs of the women-led micro-enterprise sector, facilitate access to the necessary financing,
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