El Sisi reviews banking sector performance, monetary stability with CBE governor

CAIRO – 22 February 2026: President Abdel Fattah El Sisi held a meeting with Hassan Abdalla, Governor of the Central Bank of Egypt, CBE, to assess the performance of the banking sector and key monetary policy developments throughout 2025.

The discussions reflected the sustained strength of Egypt’s financial stability indicators and the resilience of both the Central Bank and the broader banking system in safeguarding macroeconomic stability. The review comes within the framework of the CBE’s core mandate, alongside its role as the government’s financial and fiscal advisor.

According to Presidential Spokesperson Mohamed El Shenawy, the Governor highlighted the continued rise in Egypt’s net international reserves, which reached a historic $52.6 billion in January 2026, compared to $33.1 billion in August 2022. The current reserve level covers approximately 6.9 months of merchandise imports, exceeding internationally recognized benchmarks.

The meeting also examined the improvement in the banking sector’s net foreign assets, which climbed to $25.5 billion in December 2025, the highest level since February 2020. This was supported by stronger net foreign asset positions at commercial banks, totaling $12.2 billion, in addition to record-high remittances from Egyptians abroad.

Further positive developments included higher tourism revenues, increased foreign investment, both direct and portfolio, in Egyptian government debt instruments, and a rise in the CBE’s own net foreign assets to $15.1 billion in January 2026.

The Governor also reviewed Egypt’s improved standing among global credit rating agencies. Standard & Poor’s upgraded Egypt’s long-term sovereign rating to “B” from “B-”, with a stable outlook, the first upgrade in seven years. Similarly, Fitch Ratings affirmed Egypt’s long-term foreign currency rating at “B”, with a stable outlook.

The meeting addressed ongoing efforts to expand financial inclusion and accelerate digital transformation, reinforcing the foundations of a more inclusive and sustainable economy. It also highlighted the banking sector’s role in corporate social responsibility initiatives, particularly in health and education, alongside major domestic and international partnerships launched in 2025.

President El Sisi emphasized the importance of maintaining disciplined monetary policies to contain inflation, ensure the availability of essential goods, and preserve price stability. He directed the continuation of measures that promote financial transparency, strengthen market confidence, and support sustainable growth, while expanding incentives to unlock economic opportunities and empower the private sector to play a leading role in driving investment and growth.