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The CBE rejected other offers from investors who requested an interest of 4.10%.
Khodeir’s comments came during a roundtable discussion held to tackle the banking draft law and its role in enhancing Egypt’s economic development.
Weighted return on new deposits declines in September 2019 to 11.5%, 16% on loans
The January’s figure is the highest in the history of Egypt and it covers more than eight months of commodity imports.
External debt-to-GDP ratio 36% in Egypt, 48.5% in Latin America, 47.5% in Middle East
Appreciation of currency, lower interest rates, price cuts across consumer goods, and stability of fuel costs
The proceeds of the tender goes to repay a previous tender offered on 8 January 2019 worth $845.1m
To return to 2010 tourism revenue rates, Egypt must diversify tourism markets, with more cooperation between Tourism and Civil Aviation Ministries, says expert
Why the US dollar broke the EGP16 barrier and where to next?
One-third of bank’s customers has beem registered in its e-services
Annual headline Inflation rose to 2.7% from 2.4% in October
CBE under Amer succeeded in managing the files of monetary policy and exchange market, which reflected positively on the performance of the national economy as a whole, say bankers
CBE accepts $1.56bn worth offers from 33 investors with interests ranging between 3.55-3.6%
Government, investors, and EGX are the most beneficiaries from the decision, while bank depositors are the most harmed
It’s the highest foreign exchange reserves in Egypt’s history, covering more than eight months of commodity imports.
Banks issued 3.5m Meeza cards until end-October, says CBE Deputy Governor
Egypt’s imports scored $66.529bn, while exports reached $28.495bn between July 2018 and June 2019
Experts argue security stability is key behind hike in tourism, Sultan forecast sector to achieve $15bn by FY-end
Private sector receives 60.3% of total facilities, industry at the forefront of beneficiaries, says CBE
BOP records 0.1bn deficits, oil trade balance records $8.1m surplus, FDI net inflows decrease by $1.8bn to $5.9bn
Abulnaga ruled out the impact of interest rate cut on foreign investments in Egyptian debt
This came during the event organised on Monday by the British Egyptian Business Association (BEBA), entitled “Digital assets and artificial intelligence”. The Egyptian now use Meeza cards to receive pensions, salaries, and even subsidies later on, she added.
Most cuts were limited to variable return certificates
Banks will begin Sunday to discuss the fate of interest on their CDs, deposits, and loans
This is the second interest cut in a row following the 150 basis point on 22 August, and the third in 2019.
MPC ecided at its meeting on 22 August 2019 to reduce the interest rate by 150 basis points for overnight lending, overnight deposit, and CBE’s main operation, to settle at 14.25%, 15.25%, and 14.75% respectively.
Meetings discuss latest economic, financial, monetary developments, banking supervision, financial stability, inclusiveness, and modern financial technologies, according to AMF
Largest ten banks in Egypt hold more than 81% of credit and debit cards
The CBE said in a recent report that these debts include $21bn of interest on paid loans and $5bn of debt services.
Yield on T-bills on Sunday’s auction dropped by 0.75-1.5%