Bank News
-
Visa, Egyptian Banks Company partner to streamline remittances for expats
EBC manages and develops various domestic payment ecosystems in Egypt, including the Instant Payments Network (IPN) and the InstaPay application.
-
Top 20 banks in Egypt
Egypt's banking sector remains dynamic amidst evolving economic landscapes, demonstrating resilience and agility in the face of challenges.
-
National Bank of Egypt increases interest rates for certificates in 2024
The change in the return rate on the NBE certificates of deposit came on Sunday, with the previous interest rate of 19.5 percent rising to 21.5.
-
Banking expert explains differences between clean and dirty float
A clean float of currency means leaving the currency price to be determined by supply and demand in the market without any intervention from the CBE.
-
Egypt aspires for further cooperation with World Bank in managing state-owned companies: PM
The Egyptian government is keen to further its cooperation with the World Bank in managing state-owned companies and enhancing their efficiency.
-
Central Bank of Egypt announces increase in foreign currency reserves by $30 mln
The Central Bank of Egypt (CBE) announced Monday an increase in the reserves of foreign currencies by about 30 million dollars.
-
IMF mission concludes Cairo visit, reports progress in talks with Egyptian authorities
The IMF had postponed reviews of Egypt's current program, agreed upon over a year ago, awaiting authorities to allow a more flexible exchange rate.
-
Central Bank of Egypt says did not issue new regulations on local currency withdrawals
CBE stated it has not issued new directives regarding adjustments to the daily withdrawal limit in Egyptian pounds for individuals and corporations.
-
Egypt's Central Bank Raises Interest Rates by 2% to Combat Inflation
This adjustment sets the rates at 21.25%, 22.25%, and 21.75% respectively, in a strategic move to curb inflation and stabilize the national economy.
-
Egypt’s NBE introduces new debit card for US dollar accounts
NBE has launched a new debit card for customers with US dollar accounts, named Visa Platinum, to facilitate customers' overseas purchases.
-
USD/EGP forward contracts reach all-time high at EGP 63
The 12-month non-deliverable forward contracts for the Egyptian pound against the US dollar surged to an all-time high of EGP 63.
-
CBE caps local currency cash withdrawal at EGP 150,000 per day
CBE reduced the daily cash withdrawal limits in Egyptian pounds for corporations and individuals to EGP 150,000, according to a message sent to banks.
-
IMF lowers growth expectations for Egypt economy for the 3rd time
The IMF also reduced growth expectations for the year 2025 to 4.7 percent, compared to five percent previously.
-
Central Bank of Egypt to convene amidst ongoing pound decline
The gap between rates is widening, the rate reaching approximately EGP30.85 in banks and up to EGP68 in the parallel market
-
Standard Chartered Bank launches operations officially in Egypt
The UK-based multinational Standard Chartered Bank has officially commenced its banking operations in Egypt.
-
Banque Misr introduces new USD debit card allowing purchases up to $20,000
Egypt's state-owned Banque Misr (BM) has issued a new debit card exclusively for US dollar accounts, named Visa Platinum, enabling account holders.
-
UNIDO And Abu Dhabi Commercial Bank Egypt Unite For Sustainable Finance
The initiative aims to support small and medium enterprises (SMEs) in sectors transitioning towards a green economy.
-
Egypt considers issuing UAE dirham-denominated bonds
Egypt is poised to issue bonds denominated in the UAE dirham, aiming to tap into Gulf markets for the first time.
-
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.
-
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