Bank News
-
aiBANK named “Fastest Growing Bank in the Arab Region” by World Union of Arab Bankers
aiBANK emerged as the clear frontrunner, surpassing its peers and demonstrating its unwavering commitment to excellence.
-
Egypt’s banking sector boosts micro-projects with $1.1bln in financing: Zulficar
According to Zulficar, the microfinance institutions increased their customer base by 2.03% to reach 4.6 million by the end of the Q2 2023.
-
Citigroup: Egypt’s Geopolitical Position Could Catalyze New Financing in Coming Months
Investment bank Citigroup has expressed optimism towards Egypt's bonds.
-
Etisalat and Egypt’s Second Largest Bank Back SuperPay FinTech
Banque Misr, one of Egypt’s largest banks and a leader in electronic payment solutions, has partnered with Etisalat Misr to introduce SuperPay.
-
Egypt's GAFI, QNB sign MoU to promote investment
Egypt's General Authority for Investment and Free Zones (GAFI) signed a memorandum of understanding (MoU) with Qatar National Bank (QNB).
-
New CBE Regulations for Easier Credit Card Use for Egyptians Travelling Abroad
The Central Bank of Egypt (CBE) introduces new rules to simplify credit card usage for Egyptians travelling abroad. The steps aim to curb misuse and enhance customer convenience.
-
Egypt to Issue $500M in Samurai Bonds Next November
Egypt plans to issue Samurai bonds valued at $500M in November. Samurai bonds are issued in Japanese Yen by foreign borrowers on the Tokyo Stock Exchange.
-
Egypt sets new rules on use of credit cards abroad
CBE issued new instructions on Tuesday to regulate the use of credit cards for transactions in foreign currencies abroad amid concerns of misuse.
-
Afreximbank Offers Egypt Financing Worth $29 Billion
This gathering was part of the third "Belt and Road International Cooperation Forum" events and was attended by Dr. Rania Al-Mashat.
-
The Central Bank of Egypt tightens controls on credit card use abroad
The Central Bank of Egypt has issued new directives to banks, limiting credit card cash withdrawals abroad. This comes amid concerns over misuse.
-
Egypt issues MENA’s 1st sustainable Panda bonds at $500 mln
Egypt issued on Monday the first sustainable Panda bonds in the Middle East and North Africa at ¥3.5 billion ($500 million) with a yield of 3.5%.
-
Banque Misr secures $234 mln loan from IFC to support Egypt’s MSMEs
Egypt’s state-owned Banque Misr has secured a $234 million loan from the International Financial Corporation (IFC).
-
Egypt seeks to increase IMF loan to over $5 billion
Egypt is holding negotiations with the International Monetary Fund (IMF) to enhance its rescue program to over $5 billion, according to a report by Bloomberg News.
-
Moody's downgrades five Egyptian banks by one notch
Moody's Corporation, the bond credit rating business, has downgraded five Egyptian banks in light of the country's declining debt affordability. The news came after the organisation downgraded the country's sovereign rating.
-
Egypt’s central bank likely to peg pound against currency basket in early 2024: MP
CBE is expected to reach an agreement with the IMF in early 2024 to peg the pound to a basket of international currencies and gold.
-
Egyptian banks suspend debit card use in foreign currency abroad
Several local banks suspended on Monday hard currency cash withdrawals and purchases made outside Egypt using debit cards, as per CBE instructions.
-
US Dollar Price Stabilizes on Monday in Egypt
The price of the US dollar remained stable against the Egyptian pound on Monday according to the Central Bank of Egypt and other banks. Click to read more about the currency rates.
-
Egypt's central bank issues LE 46.75B in T-bills, bonds
The Central Bank of Egypt (CBE) issues LE 46.75 billion in treasury bills and bonds in two installments.
-
IMF chief says Egypt review may happen before the end of 2023
The International Monetary Fund is “closely” engaging with the Egyptian authorities to achieve the much-delayed review of Egypt’s progress.
-
At least two Egyptian banks suspend debit card use in foreign currency
Arab African International Bank sent a notice to customers on Wednesday and Arab International Bank sent one on Thursday.