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
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,
IMF’s Georgieva praises Egypt’s reforms, flexible exchange rate
Egypt has successfully implemented a flexible exchange rate system, the International Monetary Fund’s (IMF) managing director Kristalina Georgieva said Sunday, praising the efforts of the Central Bank of Egypt (CBE). Georgieva said Egypt has made “successful progress” on the flexible
Egypt holds consultative meeting to discuss national foreign direct investment strategy
Egypt’s Ministry of Planning, Economic Development and International Cooperation hosted a consultative meeting on Tuesday to discuss the draft of the National Foreign Direct Investment (FDI) Strategy, prepared in collaboration with the World Bank Group. The meeting, attended by representatives
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
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