Bank News
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NBE increases its stake in CIB to 9.13%
A disclosure form to the stock exchange dated Jan. 2 showed the increase.
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Egypt, UNDP chart partnership roadmap through 2027
Al-Mashat said that the 2018-2022 framework includes 45 projects implemented in 20 governorates to the tune of $250 million.
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NBE reveals main axes of its strategic plan for 2022
Bank aims to offer EGP 45bn retail loans, EGP 35bn funds for SMEs, says Deputy Chairperson.
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Egypt, World Bank discuss extending Country Partnership Framework
Al-Mashat noted that as Egypt is taking significant and rapid steps to achieve Egypt’s Vision 2030.
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CBE issues treasury bonds worth LE 14.5 billion
CBE said that the value of the first offering is LE10 billion for a period of three years, while the second offering is LE 1bn over 7 years.
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Some investors turn cautious on Egypt's lucrative carry trade
Some foreign investors are cautious about buying Egyptian treasuries due to jitters over emerging markets and the sustainability of high yields.
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New coordination council between CBE, government
President AbdelFattah El-Sisi issued resolution 584 to form the council chaired by the prime minister, bank governance and some other ministers.
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Agricultural Bank launches initiative to settle EGP 4bn debt
This comes within the framework of the Central Bank of Egypt’s directives to mitigate the negative effects of the coronavirus pandemic.
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HSBC Egypt launches EGP 3bn ‘Foras Trade Fund’
Todd Wilcox, Deputy Chairperson and CEO of HSBC Egypt, said: “SMEs are a vital engine of growth for any economy".
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Egypt's net foreign reserves rise to $40.909 billion in November
Foreign reserves have been rising since June 2020, after dropping to around $36 billion from more than $45.5 billion due to the pandemic.
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JUMIA to offer services to merchants with NBE
The New York-listed firm has acquired a new payments license and is cooperating with NBE to expand its services to other online retailers.
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World Bank, AIIB funds to Egypt hit $720M
Egypt to lead the economic recovery in the Southern and Eastern Mediterranean region with a growth rate of 4.2 percent in 2021 and 4.4 percent in 2022
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Egypt's central bank issues LE 18.5B in T-bills
For the current fiscal year, the budget deficit is estimated to record 6.6 percent of gross domestic product (GDP).
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Egypt’s external debt increases to $137.9bn in June 2021
Long-term debt ($124.2bn) accounts for 90.1% of total external debt, whereas short-term debt ($13.7bn) accounted for 9.9%.
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NBE launches ‘B2B’ e-payment service for corporates
Bank aims to expand e-payments in line with Central Bank’s direction towards digital transformation: Aboul Fotouh.
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Egyptian health sector receives support from the World Bank
World Bank participated in drafting the idea of the comprehensive health insurance law, its preparation & implementation in Port Said.
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Egyptian bank boards to grant 2 seats for women
The Central Bank of Egypt (CBE) decided that two seats in each of Egypt's bank boards will be reserved for women, CBE Governor Tarek Amer told MENA.
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EBRD approves €250 mln loan to establish Alexandria’s Abu Qir metro line
EBRD’s loan, alongside with other finances, will be utilised to transform Abu Qir’s railway to a green metro line.
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CBE receives 33 bids worth $1.766bn for T-bills tender
Proceeds of latest tender will be directed to pay for previous one worth $1.585bn put forward on 17 November 2020.
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Economic reform helped Egypt's economy confront COVID-19
Egypt, unlike many other countries, has faced coronavirus with economic resilience and flexibility that are necessary to confront the pandemic.