Bank News
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Egypt expected to devalue the EGP... what if it doesn’t in the short term?
Citigroup anticipated that the Central Bank of Egypt (CBE) will hold any move on its currency until the end of current fiscal year, which ends on June
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CBE Governor: AfDB Plays Key Role in Promoting Economic Development within Continent
This comes within the framework of the Egyptian state’s keenness to strengthen and deepen cooperation with African countries in all fields.
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Egyptians Can Now Open Bank Accounts without a Minimum Deposit
This comes in light of a larger set of initiatives that were launched on 27 April for Arab Day for Financial Inclusion.
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CBE gets ISO accreditation in business continuity management
The certification was awarded in recognition of CBE efforts to ensure the continuity of all its critical banking activities.
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CBE concludes preparations for annual meetings of AfDB in Sharm El-Sheikh
The event will witness the participation of AfDB governors representing 81 regional and non-regional member countries.
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Remittances from Egyptian expatriates see significant decline
The value of Egyptian remittances during the first half of the fiscal year declined to US$12 billion.
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Moody's places a review rating of 5 Egyptian banks
The banks' long-term Counterparty Risk Ratings (CRRs) and Baseline Credit Assessments (BCAs) were also placed on review for downgrade.
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EIB grants $15 mln loan to ALEXBANK for Egypt's SMEs green projects
The European Investment Bank (EIB) and ALEXBANK, a subsidiary of Intesa Sanpaolo Group in Egypt, announced the release of a new tranche of$15 million.
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Egypt central bank hires Barclays as adviser on sale of its 99% stake in United Bank
The hiring was as the international financial adviser for the sale of its 99 percent stake in the state-owned United Bank
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Fitch Downgrades 4 Egyptian Banks to 'B' on Sovereign Downgrade; Outlook Negative
We have also downgraded the Government Support Ratings (GSRs) of all four banks to 'b-' from 'b'.
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EBRD, EU, ILX allocate €300 million to enhance private sector financing in Egypt and beyond
The announcement was made during the EBRD's annual meetings taking place in Uzbekistan.
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Egypt’s PM Reviews with World Bank Industry Development Strategy
the national industrial development strategy is being prepared in cooperation and benefit from the expertise of international partners.
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EGP to witness its 4th depreciation against USD by June: Fitch Solutions
Fitch Solutions said that the fourth Egyptian pound devaluation will occur in the context of progress on the divestment strategy Egypt is enacting.
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CBE Updates Licensing, Control Rules for Currency Exchange Companies
This comes in line with developments in the work of the exchange companies sector, supporting their performance and enhancing efficiency.
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Four banks offer highest return on dollar savings certificates in Egypt
US dollar savings certificates for 2023 are available with different returns and various purchase limits starting from $100 per certificate.
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Scenarios for CBE decision on interest rate in Egypt
Many citizens and investors are awaiting the Central Bank of Egypt’s meeting, next central bank meeting is scheduled on May 18.
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The World Bank’s new strategic partnership with Egypt through 2027
The World Bank (WB) is among the international partners that Egypt relies on to bridge its $17 billion financing gap through FY2025/26.
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Egypt’s authorities debunk rumors of forged LE100 banknote
Egyptian security services debunked rumors circulating on Facebook warning citizens against a counterfeit LE100 banknote in the markets..
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2023-2027 Country Partnership Framework bet. Egypt, World Bank endorsed Sunday
The new CPF was prepared through joint work and continuous discussions with all relevant parties from the national authorities.
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Egypt: aiBANK records $56.1mln revenues in 2022
As part of the reform and development restructuring, the bank has developed a clear strategy to invest in the human element.