Average annual spending on smoking for Egyptian family with one or more smokers is about EGP 5,798
Latest by Hossam Mounir
New offerings part of government’s plan to issue EGP 610bn T-Bills, bonds until end June
Bank has made strong contribution to all CBE initiatives to support economy in these difficult times
Funding size is good, given negative economic effects of coronavirus, says Gamea
The CBE will issue Treasury Bills and bonds worth EGP 186bn in May, as part of a government plan to borrow EGP 610bn between April and the end of June 2020.
Finance expected to reach 216,000 projects over five years, providing 250,000 jobs, says Gamea
Bank Audi Group CFO Tamer Ghazaleh said that, despite the failure of the deal, they thank FAB for its efforts and constructive discussions.
Updated 2019-2022 strategic plan approved, includes new products and development of internal business system, says El-Said
We moved quickly to preserve economic gains since launch of national economic reform programme, says CBE
First contract worth EGP 500m will finance micro-projects, second project for financing women is worth EGP 120m, says Gamea
Maintaining local currency attractive amid economic uncertainty due to Covid-19 crisis suggests keeping rates unchanged
FEB called on citizens to abide by these procedures, so that banks can continue providing their services smoothly and safely.
The CIB contribution will also be dispersed to the National Emergency and Crisis Fund, as part of efforts to combat the virus.
CBE to review interest rate Thursday in light of new inflation figures
Financial position of banks operating in local market touches EGP 6trn, deposits and loans rise
Allowing self-registration for e-wallet services contributes to speeding up digital transformation of financial transactions
Hisham Okasha, Chairperson of NBE, said the arrangement of this loan comes in light of the participating banks’ strategies to provide necessary funds for energy projects in local and foreign currencies because of their importance in advancing development and supporting the Egyptian economy.
25 offers worth $975.4m were accepted
Proceeds cover a previous tender, worth $1bn, offered in May 2019
Government plans to offer EGP 610bn worth debt instruments in 4Q FY2020
The NBE has also decided to increase the return on another 3-year Group B investment certificate. The certificate’s annual return was originally 12%, which has now risen to 12.5%, to be paid every three months.
Implications of coronavirus highlight importance of accelerating transition to digital financial services, says regional council
El Hini said that the holding company’s budget, and those of its subsidiaries, had been prepared before the current crisis took place. It had been hoped that the strong upward trend would continue for the group as a whole, but the ongoing coronavirus crisis and its expected economic consequences will likely negatively affect these expectations.
Bank profits reach EGP 83.184bn last December: CBE
The deal reflects our commitment to increasing trade between African countries, says Ezz Al Arab
Bank profits reached EGP 83.184bn at end of December: CBE
The law also put in place flexible, new and updated mechanisms to facilitate the provision of financing for these projects and expand the provision of financial and non-financial incentives for the, as well as the development of simplified and flexible systems for permanent tax treatment.
Top 5 banks account for 50.1% of sector’s total profits, top 10 achieve EGP 58.7bn profits
Individuals can withdraw up to EGP 20,000 daily from ATMs, EGP 50,000 in banks, says FEB Chairperson
New certificates will have annual 15.5% yield from date of issuance