President Sisi, CBE Governor talk achievements of banking sector 2025

CAIRO - 21 February 2026: President Abdel Fattah El-Sisi met Saturday with Hassan Abdallah, Governor of the Central Bank of Egypt.

 

Ambassador Mohamed El-Shenawy, the official spokesperson for the Presidency, stated that the meeting addressed the developments and achievements of the banking sector and monetary policy during 2025.

 

These achievements reflect the continued strength of the financial system, the resilience of the Central Bank of Egypt, the efficiency of the banking sector, and its ability to support the stability of the country's macroeconomy. This is all within the framework of the Central Bank of Egypt's mandated role, in addition to its leading role as financial advisor and agent to the Egyptian government.

 

The spokesperson added that the Governor of the Central Bank reviewed, in this context, the increase in net international reserves at the Central Bank, which reached $52.6 billion in January 2026, marking a record high compared to $33.1 billion in August 2022. This allows for coverage of approximately 6.9 months of merchandise imports, exceeding international guidelines.

 

The meeting also addressed the rise in net foreign assets in the banking sector, which reached $25.5 billion in December 2025, the highest level since February 2020. This was driven by an improvement in net foreign assets at commercial banks, which reached $12.2 billion in December 2025, along with a recovery in remittances from Egyptians abroad, which reached a record high in Egypt's history, increased tourism revenues, and a rise in direct and indirect foreign investment in Egyptian government debt instruments. Net foreign assets at the Central Bank of Egypt stood at $15.1 billion in January 2026.

 

The official spokesperson added that the Governor also reviewed the improved outlook for Egypt with international credit rating agencies. Standard & Poor's raised Egypt's long-term credit rating to 'B' from 'B-', with a stable outlook, for the first time in seven years.

 

Fitch Ratings also affirmed Egypt's long-term foreign currency rating at 'B' with a stable outlook. In the same context, progress indicators in promoting financial inclusion and accelerating digital transformation were reviewed, contributing to building a more inclusive and sustainable economy and enhancing economic growth opportunities.

 

The meeting also addressed the efforts of the Central Bank and the banking sector in the areas of social responsibility, particularly in the health and education sectors, as well as the most important local and international partnerships and national initiatives that the Central Bank participated in implementing during 2025.

 

The official spokesperson stated that President El-Sisi emphasized the need to continue curbing inflation rates through close monitoring of policies and procedures aimed at regulating markets, ensuring the availability of essential goods and price stability, thereby strengthening the Egyptian economy's resilience and flexibility in the face of challenges and achieving positive and sustainable growth rates.