Latest in Highlight
Egyptian expat remittances, Suez Canal earnings, exports to fall
CBE sets daily limit for cash deposits, withdrawals in branches of EGP 10,000 for individuals, EGP 50,000 for companies
Initiative includes clients of financial leasing, real estate, factories , SMEs, personal loans, car loans, credit cards
The CBE added that issuing the prepaid cards to citizens will be free of charge for a period of six months, provided that the cards are contactless, if a bank starts issuing this type of cards.
Country’s net international reserves reach $45.51bn in February, compared to January’s $45.457bn: CBE
Growth of the real estate sector contributes to the continuous improvement of economic indicators: deputy governor
CBE said that monthly core inflation recorded 0.7% in January 2020 from 0.4% in January 2019, annual core inflation increased to 2.7% in January 2020
Proceeds to cover a previous bid floated on 12 February 2019 worth $1.0141bn
Remittances increased to $9bn in July-October 2019
Direction of capital movement remains dependent on future outlook of economic activity growth rates, development of global trade tensions
Private business sector accounted for 59.2% of the total facilities, and the industrial sector is at the forefront of the sectors that benefit from it: CBE
Tourism is a major and important pillar for the national economy: CBE
Committee membership includes Negm, Aboul Naga, Omran, El Araby, and El Ahwany
Growing value of gold reserves pushes FX reserves to its highest level at 2019-end
New board includes financial, legal, technological and economic expertise alongside the governor, deputies
The CBE decided to keep the maximum for personal housing loans at 40% of the total monthly income.
Bank to exempt pre-2011 defaulters in tourism sector from marginal interests on their loans
Directives from president to allocate EGP 100m for industry sector, EGP 50bn for medium housing with 10% interest
Gold reserves decline, SDR countered FX hike, curbing net foreign reserves increase to $107m in November, according to CBE
The initiative is expected to be announced next Wednesday
The proceeds of this issuance will be directed to repay the earlier T-Bills issuance launched by the CBE on 19 November 2018, valued at $1.703bn.
Service sector received EGP 62.2bn banking funds, while industrial sector got EGP 43.1bn
The CBE noted that debt services reached $13.4bn in fiscal year 2018/19, including $10.2bn in instalments and $3.2bn in interest.
Slight increase in non-performing loans at banks in 1H 2019, reaching 4.2% of total loan portfolio compared to 4.1% at end-March, says CBE
Subscribers reach 13.5 million by end-June, with a total value of transactions of EGP 20bn as of September
EFG Hermes’s Abu Basha foresees 0.5% cut, Pharos’ El-Swaify and Sigma expect 1.5%
Banks’ credit facilities see EGP 224.7bn rise, private business sector holds 60.7%
Domestic debt records 79% of GDP, of which 86.4% is owed by the government, 7.3% by public economic bodies and 6.3% by National Investment Bank
EFG Hermes, Pharos forecast 1-2% interest rate cut at next MPC meeting
Value of gold reserve rises by $265m, decrease in foreign currencies value by $135m