UAE renews $1B deposit with Egypt's central bank for additional 3 years

Thu, 30 Nov 2023 - 05:25 GMT

The deposit was due to mature in June 2023, but the UAE extended it for three more years until June 2026.

Egypt has attracted $385 million from initiative allowing expats to import customs-free cars; deadline on 14 May

Sat, 08 Apr 2023 - 05:12 GMT

The Egyptian government has attracted $385 million from expatriates as part of an initiative allowing them to import cars for personal use free of customs duties and taxes in exchange for a deposit in foreign currency.

Egypt's central bank cancels maximum deposit limits, increases cash withdrawals to LE150K

Thu, 25 Aug 2022 - 03:05 GMT

The CBE also decided to increase the daily maximum limit for cash withdrawals for individuals and companies from bank branches from LE 50,000 to LE 150,000.

Saudi Arabia deposits $5 billion in Egypt's central bank

Wed, 30 Mar 2022 - 04:49 GMT

This came in implementation of directives by Saudi King Salman bin Abdulaziz Al Saud and Crown Prince Mohamed Bin Salman, the Saudi Press Agency (SPA) reported.

Banks’ financial position in Egypt rises to LE4.3T in 2016/17

Sun, 23 Dec 2018 - 10:14 GMT

As a result of increased banks' financial capacity, the value of long-term loans and cash balances in the fund increased significantly on the assets side.

Parliament censured for approving law naturalizing ‘foreigners with deposits’

Mon, 16 Jul 2018 - 09:30 GMT

Egypt’s Parliament approved Sunday a law that allows foreigners residing in Egypt to obtain the Egyptian nationality for a bank deposit of LE 7 million.

Citigroup, with limited options, hopes to lure deposits digitally

Mon, 09 Jul 2018 - 08:11 GMT

The bank is now trying to up its game with a new app it plans to begin marketing in the third quarter.

Kuwait okays renewing $4B deposit in Egypt

Sun, 29 Apr 2018 - 02:12 GMT

Kuwait has agreed in principal to renew its four-billion-dollar deposit in Egypt, Central Bank of Egypt (CBE) Governor Tarek Amer said on Sunday.

Loan balance at Egypt’s banks reaches LE 1.4T

Sun, 01 Apr 2018 - 10:21 GMT

The report remarked that the loan balance increased by LE 100 billion during the 11 months.

Bank deposits increase 43.1% in 2016/2017

Mon, 19 Feb 2018 - 09:24 GMT

Egypt’s Bank deposits increased 43.1 percent in fiscal year 2016/2017 on a year on year basis to record LE 3027.8 billion.

CBE lowers interest rates 1% as inflation plummets

Thu, 15 Feb 2018 - 06:18 GMT

The Central Bank of Egypt’s (CBE) Monetary Policy Committee (MPC) will discuss Thursday the interest rates.

Monetary Policy Committee to discuss interest rates Thursday

Thu, 15 Feb 2018 - 08:23 GMT

The Central Bank of Egypt’s (CBE) Monetary Policy Committee (MPC) will discuss Thursday the interest rates, amid expectations to gradually decline the rates in the upcoming months.

Banque Misr receives LE 250M from high-yielding certificates of deposit

Mon, 12 Feb 2018 - 10:40 GMT

Banque Misr received LE 190 billion from the high-yielding Talaat Harb certificates of deposit it offered for individuals.

CBE removes cap on deposit, withdrawal of companies

Tue, 28 Nov 2017 - 10:26 GMT

CBE halted a deposit cap for companies set at $10,000 per day and $50,000 per month, in addition to a withdrawal limit at $30,000.

Egypt’s banking system is stable on boosted growth: Moody’s

Wed, 11 Oct 2017 - 04:37 GMT

Moody’s predicts growth to pick up to 4.5 percent in fiscal year (FY) 2017/2018, from 4.0 percent in FY 2016/2017.

Deposits in banks up by LE 920B in FY 2016/17: CBE

Sat, 16 Sep 2017 - 01:28 GMT

Total Egyptians’ deposits, including government’s deposits, surged to more than LE 3 trillion by the end of June 2017.

Bank Du Caire achieves profits of LE 3 billion

Thu, 08 Jun 2017 - 06:32 GMT

The bank has managed to achieve profit growth five years in a row.

Egypt grants foreigners residency in return for deposits

Sun, 30 Apr 2017 - 04:05 GMT

The Parliament’s Defense and National Security Committee approved on Thursday a draft law that grants residency to foreigners in Egypt in return for bank deposits in foreign currency.