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Egypt’s ban of cryptocurrencies is due to be lifted, meaning companies that have the appropriate license from the Central Bank of Egypt (CBE) will soon be able to trade in cryptocurrency without fear of breaking any religious laws.
A mini committee was formed including representatives of the CBE, banks operating in the Egyptian market, and real estate developers to discuss mechanism of the rules of facilitating mortgage finance.
Elfiky has a 35-year international experience in the fields of economic and financial consulting, training, scientific research, and applied studies in Egypt, Arab countries, and the United States.
Law grants CBE’s board right to issue regulation, circulation, dealing rules with such types of currencies, money
Private enterprise sector denominates 60.8% of total facilities, with industry in lead
Banks such as IDB, ABE, ELAB, EBE do not fall under the specialised banks category, will not be exempted from EGP 5bn minimum capital: Negm
Expectations for US dollar to reach EGP 16.5
The source explained, in a statement to the Middle East News Agency, that the law does not determine term limits for bank officials, including heads of banks and board members, pointing out that this applies to state-owned and private banks.
April’s inflation slowdown is temporary, may pick up again by end-May: analysts, investment banks
The CBE said in its monthly report on Tuesday that the domestic debt reached 78.2% of GDP.
It stipulates establishment of committee chaired by prime minister to maintain stability of state’s financial system
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 …
CBE accepts 23 offers worth $1bn with 3.85-3.9% interest
Proposals include activating bonds market maker, allocating share of dealers to secondary trade, share for brokering companies
Municipalities in Egypt should have clear detailed budgets first to be qualified for issuing bonds
The United Bank of Egypt will be sold to a major US investment fund within three months, the Central Bank of Egypt’s (CBE) Governor Tarek Amer revealed on Monday. Amer told Daily News Egypt that the CBE will retain a stake in the bank, without revealing the size of this stake. The CBE owns 99.9% …
US dollar loses 2 more piasters on Sunday to take losses to 75 piasters since mid-January 2019
All bodies subject to this law shall comply with its provisions within six months from imposing its regulations
Banking sector representatives express their appetite on financing real estate
January 2019 saw return of capital to EM since exodus in February 2018
Tourism revenues estimated at $10-12bn this year, targeted to reach $20bn annually
Washington, DC- Foreign exchange flows received by the Central Bank of Egypt (CBE) since the flotation of the Egyptian pound since 3 November 2016 exceeded EGP 150bn, Governor of the CBE Tarek Amer said on Friday. Amer added in an exclusive statement to Daily News Egypt on the sidelines of the International Monetary Fund’s (IMF) …
The Central Bank of Egypt (CBE) said that Egypt’s annual core inflation softened to 8.9% in March, down from 9.2% in February 2019. While, the monthly core CPI inflation, computed by the CBE, recorded 0.5% in March 2019, compared to 1% in February 2019. Core inflation is the change in the costs of goods and services …
Experts contend entry of new source markets, state’s political, security stability behind high tourism revenues
Decision confirms our vision to contain inflationary pressures in H1 of 2019
NPLs down to 3.9% of total loans by end-2018
Value of financial position of Egyptian banking sector’s units increases by EGP 619.3bn
Ten biggest banks account for 63.9% of sector’s total profits, while 5 largest banks account for 48.2%
Several factors favour cut, others weigh on fixing, final decision is in hands of MPC, say analysts
Banks supported their securities portfolio with EGP 202.23bn in 2018