Bank News
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Egypt int'l reserves hit new record at end-May
Egypt's net international reserves (NIRs) rose to $46,3 billion at the end of June, the highest level since the COVID-19 pandemic outbreak.
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Bringing down prices: Government and Central Bank prioritize inflation relief
Al-Homsani explained that the meeting focused on discussing the collaborative efforts between the government and the Central Bank.
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Banks’ Finance Portfolios for MSMEs Grow 362% in 6 Years
CBE added the growth rates of financial inclusion for youth (age group from 16 to 35 years) reached about 48.5% during the period from 2020 to 2023.
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IMF Executive Board to discuss Egypt 3rd review under $8 bln EFF loan 10 July
Once approved by the Executive Board, the IMF will disburse $820 million as a third tranche of the loan to Egypt.
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NBE, Banque Misr, CIB raise credit cards’ limits for int’l purchases inside, outside Egypt
Some state-owned and private banks in Egypt raised on Tuesday the limits of credit cards when being used abroad.
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What did CBE do to reduce and stabilise prices?
CBE impact on market stability, price reduction, and inflation control is evident through several measures adopted in coordination with state agencies
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CBE unveils $1bln debt instruments after Eid holiday
The first auctions stood at EGP 25 billion and will mature in 182 days on 24 December this year, according to official data.
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Banks, Stock Exchange Resume Work Sunday
Bank working hours begin after the end of the Eid Al-Adha holiday at 9 am for banks until 2 pm.
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Egypt Pumps EGP 20 Million in Coins to Avoid Change Shortage on Eid al-Adha
The Ministry of Finance confirmed that 20 million pounds “change” was issued in coins on the occasion of Eid Al-Adha.
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Sisi highlights South-South partnerships to New Development Bank president
The meeting in Cairo reviewed the path of relations between Egypt and NDB, which is the economic arm of the BRICS group.
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Egypt important to the global economy: BRICS' Dev. Bank
Egypt, with its geographical location, acts as a gateway between Asia and Africa and is a crucial corridor for global trade.
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NDB’s first int’l seminar in Egypt: Facts and expectations
The seminar represents an opportunity to familiarize with the bank's operations and explore ways to assist the government and private sector.
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Egypt to host BRICS bank 1st int'l forum
Egypt's New Administrative Capital will host the New Development Bank's (NDB) first international forum outside the BRICS countries on 11-12 June.
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IMF, Egypt reaches staff level agreement worth US$820 million
Subject to approval by the IMF’s Executive Board, Egypt will have access to about US$820 million, an IMF statement said.
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Egypt’s int’l reserves hit highest point in 4 years
Egypt’s net international reserves (NIRs) hit its highest point in more than four years (50 months) to reach $46.1 billion in May.
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Banks across Egypt offering CDs up to 30% per month
Several banks operating in Egypt have recently launched Certificate of Deposits with lucrative monthly and annual returns.
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CIB commits $300m to renewable energy, waste management projects
The total financing volume provided by CIB in the field of renewable energy and waste management amounts to an impressive $300m.
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CBE implements blended finance mechanisms
Hassan Abdalla eleased a statement on the occasion of AfDB’s 60th anniversary and the 2024 Annual Meetings.
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National Bank of Egypt enables instant transfer receipt from abroad
The move supports Egypt’s digital transformation plan making the society less dependent on cash to enhance the government’s financial inclusion.
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CBE to decide on key interest rates Thursday for last time in FY2023/24
This is amid expectations that it will maintain the current interest rates as inflation rates have started to take a downward path the last 2 months.