CBE launches fresh standard for risk-free interest rate

CAIRO, Aug 2 (MENA) - The Central Bank of Egypt (CBE) launched on Friday a fresh standard for determining a risk-free interest rate.

The standard was developed in cooperation with the European Bank for Reconstruction and Development (EBRD), and the Egyptian capital market's contact group and private commercial banks.

It will be set by calculating the average inter-bank rate nationwide, the CBE said in a statement Friday.

CBE Assistant Sub-Governor for the markets sector Rami Abulnaga said the new standard represents an important achievement to support the reform of the capital market.