Remittances

Egypt introduces instant int’l remittance service through instant payments network

Thu, 05 Dec 2024 - 01:09 GMT

This initiative is part of Egypt's ongoing push toward digital transformation and reducing the reliance on physical cash, in line with the bank’s broader strategy to modernize the country’s financial infrastructure.

Remittances from Egyptians abroad double to $2.7B after financial reforms

Mon, 25 Nov 2024 - 04:23 GMT

Remittances from Egyptians abroad witnessed major leaps after reforms in March 2024, doubling in Sept. 2024 to record about $2.7 billion.

Remittances from Egyptians expats surge to $2.7B in September 2024

Mon, 25 Nov 2024 - 01:47 GMT

The CBE attributed this substantial growth to ongoing positive impacts from economic reforms introduced in March, which have boosted foreign currency inflows.

Remittances from Egyptian nationals in KSA, USA record the highest during 9 months of 2024

Tue, 19 Nov 2024 - 11:58 GMT

The total value of remittances of Egyptians working in the G20 group to Egypt amounted to about $11.1 billion during the fiscal year 2022/2023, compared to $14.3 billion during the fiscal year 2021/2022.

Remittances from Gulf to Egypt via InstaPay available within 2 months: CBE

Mon, 18 Nov 2024 - 03:09 GMT

Nasr noted that InstaPay has garnered 11.5 million users since its launch two years ago, reflecting its growing adoption.

Remittances of Egyptians Abroad increase to $15.5 Billion in 7 Months: CBE

Mon, 09 Sep 2024 - 10:37 GMT

The Central Bank of Egypt (CBE) announced that the remittances of Egyptians working abroad increased during July 2024 - for the fifth consecutive month - by 86.8 percent.

Remittances from Egyptians working abroad surge to $2.6B in June 2024

Wed, 07 Aug 2024 - 12:11 GMT

Following reforms enacted on March 6, 2024, remittances more than doubled from their previous levels, hitting around $1.3 billion in February 2024.

Egyptian abroad remittances record $2.7B in May 2024: CBE

Mon, 08 Jul 2024 - 02:33 GMT

Various international financial institutions and development partners have also pledged their support to bolster Egypt’s economy.

Remittances of Egyptians abroad increase by 43.8% in April 2024

Tue, 04 Jun 2024 - 12:27 GMT

Remittances from Egyptians abroad also increased by 2.6 percent compared to the immediately preceding month, March 2024, during which they recorded about $2.1 billion, as a result of the economic decisions on March 6, 2024.

Egyptian remittances returning to normal as black market shrinks: PM

Wed, 13 Mar 2024 - 01:49 GMT

Prime Minister Mostafa Madbouli announced that remittances from Egyptian expatriates are gradually returning to their usual levels, particularly due to the narrowing gap between the official exchange rate and the black market rate.

Egypt aims to increase number of expats in EU, U.S. by 1M

Tue, 09 Jan 2024 - 03:38 GMT

The endeavor capitalizes on the shortage in workers amounting to 100 million in the European Union and the United States.

Egypt received 15% less remittances annually in 2023, World Bank

Thu, 21 Dec 2023 - 11:32 GMT

The WB’s report highlighted that the MENA region’s remittances are projected to fall by 5.3% to approximately $61 billion in 2023, following a 4.5% drop in 2022

Remittances of Egyptians working in UAE record slight rise by 1.4%

Tue, 19 Sep 2023 - 11:28 GMT

The agency said that the total remittances were estimated at about $3.5 billion during the fiscal year 2021/2022, while they were about $3.4 billion during the fiscal year 2020/2021, an increase of about 1.4 percent.

Egypt received over $219.4B in remittances over past decade, state aims to increase this by 10%

Thu, 13 Jul 2023 - 01:05 GMT

Egypt was ranked among the top recipients of remittances in the Middle East and North Africa (MENA) region in 2022 according to a report by the World Bank in June

Remittances of Egyptian nationals in Arab states significantly rise during FY 20/21

Tue, 23 May 2023 - 06:27 GMT

Saudi Arabia ranked first in the list of the top ten Arab countries in the value of remittances from Egyptians working in it during the fiscal year 2020/2021.

Remittances from Egyptian expats record $12B in H2 of 2022: CBE

Wed, 03 May 2023 - 02:38 GMT

The remittances from Egyptian expatriates declined during the third quarter of 2022 (July-September) by 20.9 percent, recording $6.4 billion, down from $8.1 billion during the same quarter of 2021.

Egypt's imports from US witnesses remarkable increase in 2022: CAPMAS

Tue, 31 Jan 2023 - 12:35 GMT

Egyptian imports from the United States of America witnessed a remarkable increase during the first 10 months of last year 2022, according to data from the Central Agency for Public Mobilization and Statistics.

Trade exchange between Egypt, US increase 12.2% in 10 months

Mon, 30 Jan 2023 - 05:52 GMT

The Egyptian exports to the US decreased 5.2 percent to reach $2 billion during the first 10 months of 2022, compared to $2.1 billion in the same period in 2021.

Remittances from Egyptian expats record $20.9B in 8 months: CBE

Thu, 17 Nov 2022 - 02:53 GMT

In August, the remittances from Egyptian expatriates decreased to $2.2 billion, compared to $2.4 billion during July 2021.

Trade exchange between Egypt, Arab countries increases by19.2% in H1 of 2022

Tue, 01 Nov 2022 - 03:41 GMT

CAPMAS revealed that Egypt’s exports to Arab countries amounted to $5.9 billion during the first half of 2022, compared to $5.4 billion during the same period in 2021, marking an increase of $466.5 million or 8.6 percent.

More