News Egypt Banks: Egypt’s pound leads decade-long currency slide among Africa’s largest economies
The biggest turning point came in November 2016 when Cairo floated the pound under a $12 billion IMF programme, ending years of an...
News Egypt Banks: Egypt pauses rate cuts for fifth straight meeting as inflation rises
Egypt’s central bank has kept its key interest rate at 19 percent for a fifth consecutive meeting, extending its pause...
News Egypt Banks: Egypt’s banks increase focus on consumer opportunity
Egypt’s supportive regulation, together with the impact of Covid, saw cashless payments in the country grow by more than 230% last year. Now fintechs, banks and state-owned platforms all want a piece ...
News Egypt Banks: Emirati and Egyptian central banks agree to a currency swap deal as Egypt’s economy struggles
CAIRO — The central banks of the United Arab Emirates and Egypt agreed Thursday to a currency exchange deal, which could bolster the struggling Egyptian economy. A joint news release said the agreement would allow the two central banks to exchange up to 5 billion Emirati dirhams and 42 billion Egyptian pounds, or roughly the equivalent of […]
News Egypt Banks: Egypt cenbank approves rules for providing emergency liquidity to banks
Egypt's central bank said on Monday it had approved a set of rules under which it would be able to provide emergency liquidity to local lenders. CAIRO, Jan 10 (Reuters) - Egypt's central bank said on ...
News Egypt Banks: Egypt cenbank to provide emergency liquidity to banks under conditions
Egypt's central bank said on Monday it had approved a set of rules under which it would be able to provide emergency liquidity to local lenders. Banks can apply to receive emergency liquidity if they ...
News Egypt Banks: Egyptian banks have highest liquidity rates in region: Official
Banks operating in the Egyptian markets have the highest rates of liquidity in the region a bank official said on Tuesday, only 24 hours after the Central Bank of Egypt approved granting emergency ...
