Central Bank of Egypt

President Sisi extends Hassan Abdalla in acting role as Head of Egypt's Central Bank

Sun, 26 Nov 2023 - 08:09 GMT

President Abdel Fattah El-Sisi issued Presidential Decree No. 551 for the year 2023 to restructure the Board of Directors of the Central Bank of Egypt.

CBE studies allowing opening bank accounts via mobile app in 2024

Tue, 21 Nov 2023 - 05:16 GMT

The new service will be provided through the Digital Financial Identity Company, to which the Central Bank of Egypt contributes a 55 percent share of the company’s capital, which amounts to 500 million pounds.

FinTech companies attracts $800M in 2022: CBE

Mon, 20 Nov 2023 - 04:18 GMT

The number of financial services companies raised from 32 to 177 companies from 2017 to 2022

CBE increases prepaid cards & mobile banking transactions limits by 100%

Wed, 15 Nov 2023 - 04:48 GMT

For licensed micro-enterprises, daily transaction limits for financial inclusion accounts, prepaid cards, and mobile banking services have been raised from LE 40,000 to LE 80,000

InstaPay to potentially launch remittance services in Jordan, UAE and Saudi

Sun, 12 Nov 2023 - 05:54 GMT

The CBE is still studying whether remittances transferred via InstaPay will be credited to Egyptian accounts in local or foreign currency

Egypt’s trade volume with other countries reported at $110.4 billion in FY22/23

Tue, 07 Nov 2023 - 05:23 GMT

According to the report, 14 countries led international trade in FY2022/2023, accounting for 61.1 percent of total trade volume valued ay $67.469 billion. This included $42.239 billion in imports and $25.229 billion in exports

Egypt’s int’l reserves increased to $35.1B in October, CBE

Sun, 05 Nov 2023 - 05:48 GMT

The central bank’s foreign reserves contain a diverse package of gold, special drawing rights (SDRs), and major international currencies, including US dollars, Euros, Japanese Yen, and Chinese Yuan

CBE’s Monetary Policy Committee decides to keep key interest rates

Thu, 02 Nov 2023 - 06:39 GMT

Egypt’s real GDP growth for the first quarter of 2023 remained steady at 3.9 percent, compared to the previous quarter, according to the MPC statement

Egyptian external debt declines in Q4 FY2022/2023, CBE

Wed, 01 Nov 2023 - 05:04 GMT

According to the report, these numbers include $136.58 billion in long-term debt and $28.15 billion in short-term debt

CBE received close to $1B in Chinese Yuan from China Development Bank

Tue, 31 Oct 2023 - 11:23 GMT

The ¥7 billion will be used to finance projects agreed upon at the BRI summit as well as the nine programs outlined in the Africa-China Cooperation forum in 2021

CBE eases restrictions on traveler’s credit card usage

Thu, 26 Oct 2023 - 12:10 GMT

On Thursday, the central bank shared that it decided to ease restrictions as part of its broader efforts to support the Egyptian economy and its citizens, and crack down on the misuse of credit cards

UAE, KSA reportedly planning to deposit $5B in CBE

Wed, 25 Oct 2023 - 01:55 GMT

Sources stated that there is a preliminary agreement in place, which will include the renewal of existing deposits provided by the two Gulf countries that are set to expire next year

CBE directs banks to impose new controls on cash withdrawals from credit cards abroad

Tue, 17 Oct 2023 - 05:44 GMT

In an official statement, the central bank’s directive was sent after it became aware of users withdrawing cash abroad despite not traveling

Egypt's reserve money reaches LE 1.581 trillion: CBE

Mon, 16 Oct 2023 - 04:29 GMT

This marks an increase from LE 1.496 trillion recorded at the end of December 2022, reflecting a growth of LE 85 billion.

The volume of Egypt’s non-cash transactions will hit $27.63B by 2027

Sun, 15 Oct 2023 - 04:41 GMT

In 2023, the report predicts a remarkable increase in the volume of non-cash transactions in Egypt, reaching $16.34 billion.

Egypt's annual core inflation records 39.7% in September: CBE

Tue, 10 Oct 2023 - 02:32 GMT

Core inflation discounts or strips out certain categories that are considered more volatile.

Egypt transforms FY2021/2022 deficit into surplus of $882M in FY2022/2023, CBE

Sun, 08 Oct 2023 - 04:39 GMT

Egypt's tourism sector also reported strong growth, with revenues increasing by an impressive 26.8 percent on a yearly basis in FY2022/2023, soaring to $13.6 billion

Egypt’s tourism revenues increased by 26.8% in FY 2022/2023

Sun, 08 Oct 2023 - 03:47 GMT

The government's strategic efforts led to attracting a significant influx of visitors to Egypt, culminating in an impressive milestone of 7 million tourists during the initial six months of 2023

Egypt's central bank issues LE 46.75B in T-bills, bonds Sunday

Sun, 08 Oct 2023 - 11:54 GMT

The T-bills were offered in two installments, with the first valued at LE 20 billion with a 182-day term, and the second worth LE 26.5 billion with a 364-day term.

Egyptian government and CBE tackle soaring prices of essential commodities

Wed, 04 Oct 2023 - 06:02 GMT

In an official statement released on Tuesday, the Cabinet announced that an initiative to tackle this problem is being designed, with all the specific details set to be unveiled next week