Bank News
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Banque Misr: time period for availability of new CDs is open
Etreby added that the time period for the availability of new CDs is open and a date has not yet been set for their termination.
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Egypt, Afreximbank discuss preparations for IATF in November
The exhibition aims to enhance intra-trade between various African countries and highlight investment opportunities available in the continent.
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Egypt’s external debt rises by 5.1% in 4Q of 2022
In this respect, the government has committed to a ceiling on the gross debt of 92.1 percent of GDP by the end of the current fiscal year.
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National Bank of Egypt, Banque Misr release certificates of 22-16%
The first certificate is fixed for three years at a rate of 19 percent annually, and the return is paid monthly. The second certificate of three years
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Islamic Development Bank approves $344.5 mln fund for Egypt's electric express train
During its 350th meeting in Jeddah, the Islamic Development Bank's (IsDB) board of executive directors approved three projects worth a total of $403m.
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NBE denies issuance of CDs at 30% interest rate
The Vice Chairman of the Bank’s Board of Directors Yehia Aboul-Fotouh in a press statement stressed the need to refer to official sources.
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Egypt’s Central Bank raises interest rates to highest level since 2017
In its meeting, the overnight deposit rate, overnight lending rate, and the rate of the main operation was raised by 200 bps to 18.25 percent, 19.25.
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National Bank of Egypt denies issuance of new high return saving certificates
According to official statements, the proceeds of the CDs reached $750 billion in just 70 days and came to maturity in March.
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NBE raises return on 3-year savings certificates
You can access this service from any of the bank’s branches or via internet banking.
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All eyes on Egypt's central bank meeting today amid expected interest rates hike
The CBE Monetary Policy Committee is scheduled to convene on Thursday to review the key interest rates for the second time in 2023.
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Report: Will CBE raise interest rates at its next meeting?
The Research Department of HC Securities and Investment expected the Central Bank of Egypt’s Monetary Policy Committee would raise the interest rate.
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STC’s Giza Systems to spend up to USD 40 mn on acquisitions in 2023. PLUS: Al Baraka Bank + BdC’s Taly?
Giza Systems will target companies that have a significant presence in the Saudi market as well as an Egypt-based workforce.
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Kuwait extends maturity of $2bn deposit at CBE to September 2023
The report on the external situation of the Egyptian economy revealed that Kuwait had two deposits at the Central Bank of Egypt, worth $4bn.
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Abu Dhabi Islamic Bank – Egypt achieves net profit of EGP 2.190bn in 2022
A microfinance company will also be launched before the end of the second quarter of this year.
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CBE Launches New Website
The action is consistent with both international best practices and the Central Bank of Egypt's (CBE) ambition to stay current with technology.
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IMF Prepares for First Review of Egypt's Programme
Among the main commitments Egypt made for the loan were a permanent shift to a flexible exchange rate regime and wide-ranging structural reforms.
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HSBC report expects significant rise in interest rates in Egypt
Report issued by HSBC expects the Central Bank of Egypt to raise the interest rate by 3 percent at the Monetary Policy Committee meeting end of March.
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Egypt becomes a member of the BRICS New Development Bank
Joins the original five members plus Bangladesh and UAE in acquiring a position within the BRICS bank equity
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World Bank agrees $7 bln, 5-year partnership with Egypt
The agreement will focus on boosting private sector jobs, provision of better health and education services, and adaptation to climate change.
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New working hours for banks during Ramadan
The Central Bank of Egypt (CBE) has announced the banks’ working hours during the holy month of Ramadan, which is expected to start on Thursday.