Bank News
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Central Bank of Egypt sells $990 mln USD-dominated T-bills
CBE sold on Monday $990 million in USD-denominated treasury bills (T-bills) with a one-year maturity, according to the bank’s website.
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Egypt is considering issuance of Masala bonds worth $50M in 2024
Maait said he hopes to raise between $500 million and $1 billion through sustainability bonds in 2024.
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Dollar rate in Egypt’s black market sees sudden, significant decline
During November, the dollar recorded successive jumps in black market transactions, reaching 52 pounds due to a sudden increase in demand.
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UAE and Kuwait extending deposits reveals confidence in Egypt’s economy
Shawky pointed out that before coronavirus pandemic, Egypt’s foreign currency reserve amounted to about $45 billion.
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UAE renews $1 bln deposit at Central Bank of Egypt
The UAE has renewed a $1 billion deposit at the Central Bank of Egypt (CBE) for three years to 1 July 2026 instead of 1 July 2023.
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AfDB supports CIB with $148M to prop up SMEs and trade
The AfDB clarified that the instruments and amounts include $10 million Line of credit with a tenor of 10 years.
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EBRD eyes minority stakes in two banks under Egypt's IPO programme
EBRD is seeking the acquisition of minority stakes in state-owned financial institutions earmarked for privatization in Egypt.
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AfDB approves of new $131M loan to boost economic resilience
The AfDB loan will help Egypt’s goal of attracting $3 billion in financing by the year’s end to bridge a $17 billion financing gap over 4 years.
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FABMISR reports net profits of EGP 8.2bln for nine-month period ending in September 2023
The net loan portfolio's value recorded EGP 82.935 billion, a 70% increase compared to the end of 2022.
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AfDB approves $131 mln loan to boost Egypt's private sector, green development
The African Development Bank (AfDB) approved a $131 million loan to Egypt with the aim of bolstering the government’s efforts to boost private sector.
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Factbox: Hassan Abdalla's monetary policy as head of CBE
Egyptian President Abdel-Fattah El-Sisi recently decreed the formation of a new board of directors for the Central Bank of Egypt (CBE).
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Sisi announces new CBE board of directors
President Abdel-Fattah El-Sisi has issued a presidential decree, announced on Sunday, to establish a new board of directors of the CBE.
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Islamic Banking Transactions in Egypt Increase by 27% in 2023
According to the Egyptian Islamic Finance Association, these transactions reached a total of EGP 562 billion in September 2023.
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CBE urges banks to join Decent Life Initiative
The initiative also aims to provide a holistic package of services, covering various aspects of health, social and living conditions.
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President Sisi extends Hassan Abdalla in acting role as Head of Egypt's Central Bank
President Abdel Fattah El-Sisi issued Presidential Decree No. 551 for the year 2023 to restructure the Board of Directors of the Central Bank of Egypt
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Challenging Egyptian Banking Operating Environment to Continue
The operating environment score is in line with the sovereign rating as operating conditions for banks are highly correlated with the sovereign profil
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CBE studies allowing opening bank accounts via mobile app in 2024
In 2022, the CBE launched its financial inclusion strategy for 2022-2025 to promote financial inclusion in the country.
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EIB strengthens Middle East and North Africa cooperation with new Cairo hub
The European Investment Bank (EIB) has inaugurated a new regional hub in Cairo to foster cooperation in Middle Eastern and North African (MENA).
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Egyptian CIB borrows $150 mln from EBRD to cushion against economic risks
The bank's total assets reached EGP 635.83 billion (around $20.6 billion) in 2022, up from EGP 498.23 billion in 2021.
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IMF may need to augment Egypt program amid Gaza war impacts, Georgieva says
The conflict is posing difficulties for neighboring countries Egypt, Lebanon and Jordan through the loss of tourism and higher energy costs.