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New electricity, fuel prices will hike monthly inflation: Saada
The CBE revealed that the current account deficit registered $7.6bn and the capital and financial account unfolded a net inflow of $7.8bn in the reporting period.
El-Shaarawy told Daily News Egypt that the bank is currently completing the regulatory and structural framework of the company, determining shareholders’ stakes, and the CBE’s contribution in the company.
The CBE noted that banks secured provisions of 98% of total NPLs at the end of March 2019. The ratio reached 100% at the 10 and five largest banks.
Top 5 banks denominate 74.48% of profits, top 10 account for EGP 33.32bn of profits, says CBE
Private enterprise sector denominates 60.8% of total facilities, with industry in lead, according to CBE
MerQ’s participation comes within the framework of supporting the state’s strategy and the Central Bank of Egypt (CBE) to spread awareness of financial inclusion
In May, Bank Audi signed the final acquisition contract of the NBG-Egypt, however sealing the deal currently depends on the approval of both the CBE and Banque Du Liban, the central bank of Lebanon
CBE receives 3 bids for United Bank, awaiting new offers
Boards of directors shall ensure banks’ plans match reliance on these companies, analyze risk associated with these services
Bank is launching its FinTech Hub, begins pilot phase in June
CBE accepts 24 offers worth $715m with 3.85-3.88% interest
Egypt’s ban of cryptocurrencies is due to be lifted, meaning companies that have the appropriate license from the Central Bank of Egypt (CBE) will soon be able to trade in cryptocurrency without fear of breaking any religious laws.
The Egyptian Real Estate Council proposed to set an interest rate of 8-12% on mortgage finance for middle-income housing units
A mini committee was formed including representatives of the CBE, banks operating in the Egyptian market, and real estate developers to discuss mechanism of the rules of facilitating mortgage finance.
Elfiky has a 35-year international experience in the fields of economic and financial consulting, training, scientific research, and applied studies in Egypt, Arab countries, and the United States.
Law grants CBE’s board right to issue regulation, circulation, dealing rules with such types of currencies, money
Decision comes complementary to previous efforts by CBE to support MSMEs, says Negm
Private enterprise sector denominates 60.8% of total facilities, with industry in lead
Banks such as IDB, ABE, ELAB, EBE do not fall under the specialised banks category, will not be exempted from EGP 5bn minimum capital: Negm
Expectations for US dollar to reach EGP 16.5
Fourteen countries account for 60.62% of Egypt’s foreign trade volume, led by China
Bank helps with restructuring Nilex, says Fink
The source explained, in a statement to the Middle East News Agency, that the law does not determine term limits for bank officials, including heads of banks and board members, pointing out that this applies to state-owned and private banks.
April’s inflation slowdown is temporary, may pick up again by end-May: analysts, investment banks
The CBE said in its monthly report on Tuesday that the domestic debt reached 78.2% of GDP.
Company expects CBE to continue trend toward reducing interest rate by end of Q3 or Q4 of 2019
It stipulates establishment of committee chaired by prime minister to maintain stability of state’s financial system
The average price of US dollar in banks reached EGP 16.99 for buying and EGP 17.09 for selling, according to the CBE
US currency is approaching EGP 17 against pound, as foreign exchange flows increase in Egypt