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
Al-Sisi urges continued efforts to modernize Egypt’s education system
Egyptian President Abdel Fattah Al-Sisi has emphasized the importance of ongoing reforms to modernize the country’s educational system, aiming to enhance the quality of both the educational process and its key components—students, teachers, and digital infrastructure. The directive was issued
Israel continues attacks on Gaza amid stalled ceasefire talks
The Ministry of Health in Gaza reported on Wednesday that Israel’s military actions have resulted in three new massacres, with 23 fatalities and 39 wounded in the past 24 hours alone. This brings the total death toll in Gaza since
CIB leads syndicated loan of EGP 9bn for Madinet Masr in partnership with 6 banks
The Commercial International Bank—Egypt (CIB), acting as the lead arranger and financier, has successfully arranged a syndicated loan worth EGP 9bn for Madinet Masr Housing and Development Company, a key player in Egypt’s real estate sector. This loan, which spans
Egyptian, Uzbek officials discuss increased cooperation at business forum
Egyptian and Uzbek officials met on Wednesday at the Egyptian-Uzbek Business Forum in Tashkent to discuss strengthening economic ties between the two nations. The forum, which coincided with the 7th session of the Joint Egyptian-Uzbek Committee for Economic, Scientific, and
TMT invests EGP 100m in new customs bonded area at Hossni El-Antably station
Transmisr Transportation and Trading (TMT) has announced the inauguration of its new customs station, the Hossni El-Antably Customs Bonded Area, with an initial investment of EGP 100m. The facility, located in Alexandria, spans 7,500 square meters in its first phase
Egypt needs 450k housing units annually to meet population growth: Minister
Egypt requires approximately 450,000 new housing units each year to accommodate the growing demand driven by population growth, according to Minister of Housing, Utilities, and Urban Communities Sherif El-Sherbiny. During a recent meeting with representatives from the Coordination Committee of
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
“500500” Hospital project to enhance cancer care, says Egyptian PM
Egypt’s Prime Minister Mostafa Madbouly convened a meeting on Tuesday to review the progress of the new National Cancer Institute in Sheikh Zayed, known as the “500500 Hospital.” The Prime Minister emphasised the hospital’s critical role in enhancing cancer treatment