Tag: CBE
Business Egypt Features Finance Headlines

Egypt’s Central Bank Raises Cash Withdrawal Limit and Extends Bank Hours Amid Telecom Disruptions

North Africa PostComments Off on Egypt’s Central Bank Raises Cash Withdrawal Limit and Extends Bank Hours Amid Telecom Disruptions

The Central Bank of Egypt (CBE) has temporarily raised the daily cash withdrawal limit for individuals and businesses at bank branches from EGP 250,000 to EGP 500,000. This exceptional measure is intended to cushion the impact of ongoing telecommunications disruptions that have affected regular banking operations across the country. The CBE stated that the adjustment […]
Business Egypt Features Finance Headlines

Kuwait extends $2 billion deposit to Egypt through 2025

North Africa PostComments Off on Kuwait extends $2 billion deposit to Egypt through 2025

On December 3, the Central Bank of Egypt (CBE) announced that Kuwait has agreed to extend a $2 billion deposit for an additional year. Originally set to mature in April 2024, the deposit will now mature in April 2025, according to the CBE’s latest external position report. This decision provides Egypt with crucial financial breathing […]
Business Egypt Features Finance Headlines

Egypt’s central bank hires Barclays Bank to advise on sale of stakes in United Bank

North Africa PostComments Off on Egypt’s central bank hires Barclays Bank to advise on sale of stakes in United Bank

The Central Bank of Egypt (CBE) has handpicked Barclays Bank as an international sell-side advisor for the sale of its 99% stake in the state-owned United Bank, Egypt Today reports. Barclays will work alongside local financial advisor, CI Capital, the media also notes. United Bank is one of the 32 state-owned companies the Egyptian government […]
Business Egypt Finance Headlines

Egypt’s central bank gets around $5.2bn from local banks to address growing economic pressures

North Africa PostComments Off on Egypt’s central bank gets around $5.2bn from local banks to address growing economic pressures

The Central Bank of Egypt, (CBE) collected around $5.2 billion (EGP 100 billion from local banks in the weekly open market operations (OMO) as the North African country turns to local, regional and international banks for loans to address growing economic pressures. The CBE data indicate that the funds were raised at a fixed rate […]
Egypt Features Headlines

Egypt’s Central Bank:The Country’s Economy’s “Sluggish”

North Africa PostComments Off on Egypt’s Central Bank:The Country’s Economy’s “Sluggish”

Egypt’s gross domestic product (GDP) growth rate continued to slow down in the first quarter of the 2013/2014 fiscal year to reach slightly more than 1 percent compared to 2.1 percent in 2012/2013, according to the Egypt’s Central Bank. Deputy CBE governor Ranaia al-Mashat said in his statement that economic activity remained sluggish in the […]