CBE

Egypt's central bank keeps interest rates unchanged during 2023 first meeting

Thu, 02 Feb 2023 - 06:47 GMT

The overnight deposit rate, overnight lending rate, and the rate of the main operation were kept on hold at 16.25 percent, 17.25 percent, and 16.75 percent, respectively.

Egypt’s balance of payments hits $523.5M surplus by end of September: CBE

Thu, 02 Feb 2023 - 05:09 GMT

The CBE attributed the surplus to the growing revenues of tourism, Suez Canal as well as petroleum and non-petroleum exports.

Egypt's banks off Thursday on Jan.25 revolution, Police Day anniversary

Sun, 22 Jan 2023 - 02:47 GMT

January 26 will be off instead of January 25, which falls on Wednesday.

Egypt's central bank issues LE 35B in T-bills Sunday

Sun, 22 Jan 2023 - 02:33 GMT

The T-bills were offered in two installments, with the first valued at LE 13.5 billion with a 91-day term, and the second worth LE 21.5 billion with a 273-day term.

Egypt pays $2.5B in foreign debt payments within 2 months

Tue, 17 Jan 2023 - 12:35 GMT

The Central Bank of Egypt (CBE) elaborated in a statement, that it paid about $1.5 billion in November, and $1 billion in December 2022.

Egypt’s banking sector provides $2B of importers’ requests within 3 days

Mon, 16 Jan 2023 - 03:16 GMT

This confirms the ability of the banking sector to cover pending currency requests for importers as soon as possible.

Egypt's central bank issues LE 4.5B in T-bonds Monday

Mon, 16 Jan 2023 - 10:17 GMT

The T-bonds were offered in three installments, with the first valued at LE 1 billion with a 1.5-year term.

Egypt's central bank issues LE 43.3B in its last T-bills in 2022

Thu, 29 Dec 2022 - 05:33 GMT

The T-bills were offered in two installments, with the first valued at LE 20.5 billion with a 182-day term.

Egypt's central bank cancels letter of credit requirement for imports

Thu, 29 Dec 2022 - 05:20 GMT

The CBE said in a statement that it decided to restore the documentary collections system for imported goods.

Egypt's Central Bank issues new instructions to protect confidentiality of customer statements

Wed, 28 Dec 2022 - 03:48 GMT

“The bank must send account statements to customers every 3 months at most,” it added.

CBE extends 2 initiatives in support of tourism sector

Sun, 25 Dec 2022 - 02:58 GMT

The CBE made the announcement in a circular sent to all banks operating in the local market on Sunday.

Egypt's central bank sets new targets for inflation rates

Thu, 22 Dec 2022 - 08:58 GMT

The CBE set an average rate of 5 percent (±2 percent) for the targeted inflation rates during the fourth quarter of 2026.

Egypt's central bank raises interest rates 3% during last meeting in 2022

Thu, 22 Dec 2022 - 08:48 GMT

The discount rate was also raised to 16.75 percent.

Egypt's central bank issues LE 26.5 in T-bills Thursday

Thu, 22 Dec 2022 - 11:27 GMT

The T-bills were offered in two installments, with the first valued at LE 5 billion with a 182-day term.

Egypt's central bank discusses interest rates with 1-2% hike expectations

Thu, 22 Dec 2022 - 11:15 GMT

Most of the expectations of economists and investment banks point to the Central Bank's direction for a new hike by about 100 points to 200 points.

FEI head commends CBE decision to stop funding loans

Mon, 19 Dec 2022 - 05:44 GMT

Addressing the third session of "People And Banks" conference, held today, he described the decision as good, as CBE is not responsible for backing such initiatives, but it is a must that the government offers backing to such sector.

Saudi Sovereign Fund in talks to acquire Egypt's United Bank for $600M

Mon, 12 Dec 2022 - 02:55 GMT

The agreement may be completed within December 2022.

Egypt's central bank issues LE 14B in T-bonds Monday

Mon, 12 Dec 2022 - 02:41 GMT

The T-bonds were offered in three installments, with the first valued at LE 6 billion with a 1.5-year term.

Egypt's central bank issues LE 28.5 in T-bills Sunday

Sun, 11 Dec 2022 - 02:06 GMT

The T-bills were offered in two installments, with the first valued at LE 8 billion with a 91-day term.

CIB nominates Hisham Ezz El Arab as Chairman of Board of Directors

Fri, 09 Dec 2022 - 04:57 GMT

Renowned Banker Hisham Ezz El Arab was nominated by The Commercial International Bank (CIB) Bank Board of Directors to be appointed as a non-executive chairman of the board of directors, after obtaining the approval Egypt’s Central Bank.

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