Bank News
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Egypt to reportedly return to international bond market sometime this FY
Egypt’s last Eurobond issuance was back in 2021 when it joined “a rush of emerging-market governments taking advantage of low borrowing costs.
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CIB appoints Hisham Ezz Al-Arab in new term as CEO
Ezz Al-Arab has served as the CIB's Non-Executive Chair since March 2023.
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NIB, Egypt post collaborate to enhance financial stability
This partnership aims to strengthen the NIB's pivotal role as a key economic and investment driver crucial for advancing development goals.
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Egypt, Citigroup mull cooperation to promote macroeconomic stability
Egypt endeavors to achieve economic and structural reforms and lure foreign direct investments (FDIs).
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NBE, Banque Misr raise limits of credit card withdrawals outside Egypt to $5,000
At the same time, they raised the monthly purchase limit to $6,000 for the highest category of credit cards.
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NBE Raises Limit for Traveling Clients to USD 5,000
The bank also announced an increase in the foreign currency spending limits on its credit cards for transactions outside of Egypt.
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Anticipation builds for CBE decision on interest rates Thursday
The Monetary Policy Committee (MPC) of the Central Bank of Egypt (CBE) is scheduled to convene on Thursday to decide on interest rates.
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IMF forecasts rise in Egypt gross international reserves
The International Monetary Fund (IMF) has projected a substantial increase in Egypt's gross international reserves.
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CBE reports first profit in seven years
The CBE also reported a rise in total assets, reaching EGP 6.057trn in June 2024, compared to EGP 4.480trn in June 2023, an increase of EGP 1.6trn.
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Egyptian banking sector records $13.25bn NFA surplus in July, marking continued growth
This marks an increase from the previous month’s surplus of $13.02bn (EGP 626.6bn) in June.
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Arab African International Bank reports net profit of USD 156MM
Arab African International Bank reports its separate financial statements for the first half of 2024 with a net profit of USD 156MM.
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IMF eases support package conditions for Egypt
This new review involves easing some of the fund’s criteria, and is part of the two reviews the IMF conducts per year before disbursing funds.
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CBE clarifies limits on foreign and domestic currency exchange
The bank emphasized that it had previously increased the daily withdrawal limit for domestic currency from ATMs to LE30,000 in April.
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CBE Withdraws Liquidity from Banks worth EGP 1.058 Trillion
31 banks offered bids worth EGP 1.058 trillion on Tuesday, and 100% of the bids submitted by the banks were accepted.
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All you need to know about key CBE figures on Egypt payments balance
Egypt’s overall balance of payments registered a surplus of $ 4.1 billion in the July-March period of the 2023/2024 fiscal year, from a $ 281.9 m.
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Egypt to issue EGP 2 note in FY2024/2025
Egypt will issue a EGP 2 note in FY2024/2025 to facilitate holding the small currency, according to Asharq Business with Bloomberg.
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President Sisi reappoints Hassan Abdallah in 3rd term as CBE acting governor
President Abdel-Fattah El-Sisi issued a decree to renew the tenure of Hassan Abdallah as the Central Bank of Egypt's (CBE) acting governor.
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Egypt central bank sells €609.8 mln in euro-denominated T-bills
The Central Bank of Egypt (CBE) sold on Tuesday 609.8 million euros in euro-denominated treasury bills (T-bills), with a 364-day maturity period.
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Central Bank of Egypt Facilitates Bank Account Opening for Non-Resident Foreign Customers
According to the CBE’s laws, banks are currently required to open accounts for foreign customers who are not residents of Egypt if they requested.
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CBE allows non-residing foreigners to open bank accounts in Egypt
CBE directed banks in Egypt to open accounts for foreign clients who are not residents of Egypt, allowing them to benefit from the various services.