List of Banks in Egypt
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S&P predicts LE to adjust closer to black market rates
As of 11 am on January 29, Egypt Today confirmed that the Egyptian pound was trading at 69-73 against the USD in the black market.
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Central Bank of Egypt to issue EGP 130 bln T-bills this week
The Central Bank of Egypt (CBE) is set to issue EGP 130 billion treasury bills (T-bills) on Tuesday with four different maturities between April 2024
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USD/EGP forward rate hits new all-time high at EGP 54.26
The Egyptian pound’s forward exchange rate against the US dollar for one-year contracts reached a new peak at EGP 54.26 on Tuesday.
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Moody's expects IMF loan programme for Egypt to increase to $10 bln
Global credit rating agency Moody's has expected the International Monetary Fund (IMF) to increase its existing $3 billion loan programme for Egypt.
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Saudi Al-Rajhi Bank suspends EGP transactions in kingdom
Saudi Islamic Al-Rajhi Bank, one of the biggest banks in the country, suspended transactions in Egyptian pounds across all of its branches.
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Egypt rules out currency devaluation amid IMF delegation’s visit
The IMF visit coincided with a new report by Moody’s, revising its outlook on Egypt from “stable” to "negative."
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Egypt’s CIB introduces new 3-year certificates with up to 22% yield
(CIB) has issued new premium certificates of deposits (CDs) that offer a fixed monthly yield of up to 22 percent.
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Egypt progresses toward Central Bank Digital Currency (CBDC) Implementation by 2030
CBDCs, a form of digital currency issued by a country’s central bank, differ from cryptocurrencies in that their value is pegged to the country’s fiat
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Additional banks join in on restricting FX transactions abroad, some suspend withdrawals
Al Baraka Bank Egypt and EG Bank announced new restrictions on foreign currency transactions on Tuesday through their respective websites.
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Egypt allows foreign companies to keep capital in foreign currency
Foreign companies can now retain their capital increase deposit in foreign currency, rather than having it converted to Egyptian pound by the bank.