Financial-Services News
-
FRA amends non-banking financial institutions’ fiscal year
The new regulations are within the FRA's efforts to implement guidelines outlined in the Unified Insurance Law.
-
Is Egypt's tax digitalization the key to a modern economy?
Under the leadership of Rasha Abdel Aal, the ETA has made significant strides in integrating advanced digital tools into its operations.
-
Fitch upgrades our credit rating to ‘B’
The ratings agency cited an inflow of FDI, our commitment to maintaining a flexible exchange rate, and fiscal consolidation as driving the decision.
-
Egyptian authorities to ramp up efforts to rejoin JPMorgan emerging market bond index
Egypt was delisted just one year after rejoining the index - Egypt had been working on returning to the EMBI for three years after its removal in 2011
-
Egypt’s MaxAB and Wasoko finalize Africa’s largest tech merger
“This merger proves that massive, world-class tech companies can be built in Africa for Africa,” says Belal El-Megharbel, Co-CEO at Wasoko and MaxAB.
-
Egypt eyes shift from commodity subsidies to cash payments by July 2025
Currently, Egypt subsidizes essential commodities for more than half of its population.
-
EGX to rebound strongly in 4Q 2024 despite fluctuations: Experts
All indices reached support levels, with the main index reaching 17,000 points and surpassing its resistance level of 12,000.
-
Egypt sovereign fund appoints Noha Khalil new acting CEO
Khalil's appointment was announced during a TSFE board of directors meeting headed by Minister Rania Al-Mashat.
-
FX rate in Egypt projected to average EGP 49.5/$1 in 2024
BMI, a research firm associated with Fitch Solutions, forecasts a depreciation of the Egyptian pound against the US dollar.
-
Egypt closer to launch of carbon certificate market
The new regulated market represents a milestone in Egypt’s environmental and financial sectors.
-
Egypt’s credit bureau “Iscore” reveals new analytics platform to support banking sector
The newly introduced platform aims to facilitate real-time monitoring and in-depth analysis of various credit products.
-
EFG Hermes ONE rebrands
EFG Hermes ONE offers the Egyptian market's pioneering licensed e-KYC digital onboarding process.
-
Egypt's new rules for brokerage firms in carbon market explained
To ensure the market's integrity and efficiency, the Financial Regulatory Authority (FRA) has introduced stringent conditions for brokerage firms.
-
FRA releases new conditions for brokerage firms to trade in upcoming voluntary carbon market
On Tuesday, Farid issued Decision No. 1732 of 2024, revealing the specific criteria for firms to qualify for future FRA approval.
-
Goldman Sachs forecasts for Egypt
The report suggests that in September, the CBE will reduce interest rates by 1 percent, followed by a further decrease of 2 percent in Q4 2024.
-
Egypt to enhance commodity exchange for economic contribution
The primary focus of the discussion was to leverage the forces of supply and demand in order to activate the commodity exchange.
-
Egyptian Exchange launches online platform for discussions, recommendations
The Egyptian Exchange (EGX) announced on Tuesday the launch of the “stock exchange dialogue” platform on its online portal.
-
EGX’s long-awaited shariah-compliant index to go live today -report
EGX head Ahmed El Sheikh said last month that the bourse has put together a committee to launch the index this quarter with 30 to 50 listed companies.
-
Egyptian Stock Exchange registers record gains in May
The monthly report of the Egyptian Stock Exchange howed that the market capitalization of shares of listed companies gained about LE 139 billion.
-
Asset management firms looking to use AI-powered advisors require min. LE 15M capital
Asset management firms are required to have a minimum capital of LE 15 million to obtain a license to operate using robo-advisors.