Central Bank of Egypt
In a statement, the central bank said the decision reflects the committee's assessment of current inflation dynamics and the evolving outlook since its previous meeting.
The directive also prohibits the use of bank financing for cash dividend distributions and employee bonus shares, as part of efforts to strengthen controls over the use of credit across the banking sector.
Under the revised framework, the maximum financing available for a single client was set at LE2 billion, subject to the company’s business volume and existing banking rules.
The CBE said it has not issued any decisions related to introducing new paper or polymer currency categories beyond the denominations already circulating in the local market.
The Monetary Policy Committee (MPC) also kept the main operation and discount rates unchanged at 19.5 percent.
The bank forecast average annual headline inflation at between 16 percent and 17 percent in 2026, easing to a range of 10 percent to 13 percent in 2027, compared with 27.4 percent recorded last year.
Core inflation, which excludes volatile food and energy prices, is closely monitored as a key indicator of underlying inflation trends in the economy.
The banking sector’s net foreign assets fell to $21.3 billion at the end of March, compared with $27.4 billion in February.
Dr. Rania Al-Mashat appointed UN Under-Secretary-General and ESCWA chief, boosting Egypt’s global role.
The move comes after the CBE noted that some entities were failing to provide the required declarations, resulting in incomplete credit profiles.
Egypt’s President Abdel Fattah El-Sisi met with Prime Minister Mostafa Madbouly, and Governor of the Central Bank of Egypt Hassan Abdallah on Monday.
Egypt activates daily crisis monitoring, cuts public spending, adjusts fuel prices, and extends cash support for two months.
Following its latest Monetary Policy Committee meeting, the CBE lowered the overnight deposit rate to 19 percent and the overnight lending rate to 20 percent. The main operation rate was cut to 19.5 percent, while the discount rate was also reduced to 19.5 percent.
Figures released by the Central Bank of Egypt (CBE) indicated that gold reserves jumped by nearly $2.6 billion to $20.73 billion at the end of January, compared with $18.17 billion a month earlier.
The service turns mobile devices into secure payment acceptance points, enabling payments with contactless cards.
The offering will roll over maturing dollar Treasury bills worth $1.06 billion, which are due on February 3 and carry an average yield of 4.25 percent.
The initiative was officially unveiled during a major ceremony held at Cairo University on Tuesday, attended by senior state officials, under the patronage of First Lady Entissar El-Sisi and in the presence of Prime Minister Mostafa Madbouly.
Discussions reviewed mechanisms for enhancing financial and monetary stability, securing funding for key sectors, and supporting domestic market needs.
The Committee said the decision reflects its updated assessment of inflation trends and risks, emphasizing that inflation remains subject to upward pressures despite signs of global economic recovery.
The handover took place Tuesday evening during an official ceremony at the Public Prosecutor’s headquarters in New Cairo, attended by Prime Minister Mostafa Madbouly, who hailed the event as a testament to the state’s determination to capitalize on its resources and strengthen financial governance.
