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Foreign banks prevent branches from investing in stock market, Egyptian banks resort to creating subsidiary companies, investment funds
CIB clarified that the expression of interest did not include a non-binding offer, nor did it indicate a specific price
Customers will escape from banking restrictions, says Honourary Chairman of AMIC
Falcon deploys fast intervention cars around institutions it secures to support its personnel at any time
Both Banque Misr and the Industrial Development and Workers Bank of Egypt have begun proposing funding programmes with a 5% declining annual interest rate
Household sector acquires 77.6% of deposits in the local currency and 63.2% of deposits in foreign currency, private sector acquires 75.8% of loans
Banks request CBE not to impose these regulations on all customers and to divide them in categories based on income
Egypt’s Higher SME Lending Quota Supports Economy but threatens Banks’ Asset Quality
The Monetary Policy Committee (MPC) meeting took three hours Thursday and ended without reaching a decision regarding the interest rates on EGP
Banks account for 75.5% of total releases of treasury bills and the largest percentage of bonds
The banks started to hold intensified meetings on Sunday morning to discuss the future of interest rates on the deposits and loans they handle.
Banks are meeting after the CBE lifted its basic interest rate by 50 bps Thursday
Measures include postponing loan repayments for tourism employees and investing in facilities
Participants aim to become acquainted with the basics of international practice in the financial support of SMEs.
The 20-year usufruct system hinders idea of establishing New Car City, says businessman
Industry figures say more personal borrowing for cars will boost economy
The CBE evaluates the banks’ cooperation in providing the foreign currency through three factors
The regulations were a new shock to banks that did not obtain dollars from the CBE
CBE demanded that local banks prioritise directing their foreign exchange liquidity to cover the importation of commodities
Amer’s latest regulations for dollar availability act as a warning to uncommitted banks, experts say
Bilateral talks between the Ministries of Electricity and Finance are taking place in order to set a mechanism and vision to obtain foreign exchange to enable investors in the renewable energy sector to pay the instalments and interests of their loans.
It maintained the exchange rate of the dollar against the pound at this periodic auction at EGP 7.73, which led to stabilising the dollar price at banks at a bidding price of EGP 7.78 and an asking price of EGP 7.83.
Six other banks await a judicial ruling for exemption
Five UAE banks currently operate in the Egyptian market; Emirates NBD, the National Bank of Abu Dhabi, Abu Dhabi Islamic Bank, Union National Bank, and Mashreq.
Bank opened six new branches and banking units, plans to expand in about eight governorates
EGP 29.5bn increase in deposits, EGP 10.7bn increase in bank loans during August: CBE
Banks offered to invest EGP 252bn in CBE deposits for one day and employ dozens of billions in corridor
Creation of Suez Canal is a catalyst to build a new tourism hub, and Ain Sokhna particularly in the immediate future, says Head of Hotels (MENA) at Colliers International
The bank’s loans-to-deposits ratio increased to 58%, compared to the 41% average in the banking system