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Latest in Banking


Central Bank of Egypt

Egypt’s external debt rises to $96.6bn by end of December: CBE

Egypt’s external debt rose to $96.6bn by the end of December 2018, compared to $82.88bn by the end of December 2017, an increase of $13.7bn, according to Central Bank of Egypt (CBE) on Wednesday. The CBE added that long-term external debt recorded $86.3bn by the end of December 2018, an increase of $1.4bn from December …

Hossam Mounir

Egypt’s banking customer base “weak”, it’s not good timing for cryptocurrencies: CIB

Mohamed Farag, head of International Transactions and Digital Banking at the Commercial International Bank (CIB), described Egypt’s banking customer base as “weak”, with only 14 million customers. He explained that the country should have at least 60 million banking customers, and this low current figure is related to the banking service costs, especially in rural …

Daily News Egypt

US dollar loses 5 piasters against Egyptian pound on Wednesday

The US dollar lost about five piasters from its value against the Egyptian pound on Wednesday, averaging EGP 17.21 for buying and EGP 17.31 for selling, down from EGP 17.26 for buying and EGP 17.36 for selling on Tuesday. The official US dollar price in the Central Bank of Egypt lost between 3-4 piasters, reaching …

Hossam Mounir