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Egypt’s foreign exchange inflows hit $150bn since November 2016

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) …

Shaimaa Al-Aees

Egyptian banks increase their SME credit by EGP 136bn in 3 years

Egyptian banks increased their SMEs credit by EGP 136bn from end-2015 till end-2018, benefiting about 522,000 foundations, Gamal Negm, deputy governor of the Central Bank of Egypt (CBE), said on Tuesday. The banking sector allocated 65% of its loans to the private sector, Negm said before an IMF conference on its paper about Financial Inclusion …

Hagar Omran