First Independent Mena Newspaper
President Abdelfattah al-Sisi has named Tarek Amer as presidential adviser after the latter resigned from his job that he was supposed to hold for another year. Local media Gate Ahram has revealed that al-Sisi accepted his resignation as Governor of the central bank and appointed him as close aide. Amer submitted his resignation to the […]
More cooperation was needed among developing nations to overcome dwindling foreign currency reserves, a growing energy crisis and supply chain disruptions, according to business leaders and officials from eight developing nations meeting in Bangladesh. Representatives from Egypt, Nigeria, Turkey, Iran, Malaysia, Pakistan and Bangladesh under the banner of D-8, or developing eight countries, were discussing […]
The Central Bank is preparing a law governing the use of cryptocurrencies in Morocco, which is expected to be submitted to Parliament by year’s end, a senior official said. The central bank is benchmarking and examining similar laws elsewhere, Hiba Zahoui director of Bank supervision said at a press conference. She declined to give details […]
Morocco’s central bank, Bank Al Maghrib (BAM), has again warned against the risks of crypto-currency, which remains illegal in the country. Despite previous warnings regarding the risks associated with the use of virtual currencies such as Bitcoin, it has been established that some physical and moral persons continue to use this type of operation, said […]
Tunisia’s central bank, BCT, Thursday said it overcame a cyberattack that hijacked its system and website on Wednesday. The attack according to the bank caused some perturbations to its services and its website which was out of service until Thursday morning. It however quickly came under control thanks to coordination between services of the institution […]
Morocco’s central bank, Bank Al-Maghrib, and the World Bank announced on Tuesday the launch of the City-Tour concept, an innovative training-action to improve access to financial services. The City-Tour concept, launched in the framework of the Greenback Initiative Morocco, consists in organizing guided tours to financial services agencies for the benefit of potential users, supervised […]
The Central Bank of Libya, CBL, published Thursday the government expenditures for 2021 standing at $24.5 billion (85.8 billion Libyan dinars), higher than what figures posted by the cabinet of Prime Minister Abdulhamid Dbeibeh, Libya Update reports. The CBL’s publication comes hard in the wake of announcement by the Government of National Unity (GNU) that […]
The degradation of Morocco’s credit rating by Fitch on the eve of a Moroccan issuance of an international bond is unprofessional and unethical, said central bank governor Abdellatif Jouahri. Fitch has recently downgraded Morocco’s credit rating from investment grade to junk ahead of an international bond worth 3 billion dollars sold by Morocco earlier this […]
Morocco’s central bank cut the key interest rate from 2% to 1.5% to shore up the economy and reduced the reserve requirement for banks to 0% to release more liquidity. The Bank revised downwards its forecasts for 2020 to -5.2%, the lowest rate since 1996, compared with 2.5% in 2019, as the coronavirus impact and […]
The Central bank said it will intervene to ensure there is enough cash for banks through increasing three-fold their refinancing capacity in dirham and hard currency. The move comes as a lifeline for Moroccan banks to offset the financial repercussions of coronavirus and help them offer loans for enterprises and households, the central bank said […]