Egyptian banks report record profits of EGP 534.8bn in 2024
Banks operating in the Egyptian market recorded net profits of EGP 534.8bn in 2024, compared to EGP 283.4bn at the end of 2023, the Central Bank of Egypt (CBE) revealed on Wednesday. The CBE’s report also indicated that the total
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
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