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For banks, 2018 is year of data

We are often told that regulation and technology are the key drivers of change in banking. This maxim remains true, but can distract from a more critical insight. In 2018, regulatory reform and technology innovation will continue to reshape banking. But the changes they enable are being propelled by forces so profound and far-reaching as …

Christopher Truce

EGPC negotiates with 5 banks for EGP 4bn loans

The Egyptian General Petroleum Corporation (EGPC) has started negotiations with five local and Arab banks to obtain EGP 4bn in loans to purchase and supply petroleum products. Sources from the EGPC told Daily News Egypt that the banks are Banque Misr, the National Bank of Egypt (NBE), National Bank of Kuwait (NBK), Al Ahli Bank …

Mohamed Farag

Banks’ investments in T-bills increase to EGP 680.4bn at end-2017

Banks operating in the Egyptian market raised their investments by EGP 43.64bn in government treasury bills (T-bills) during December 2017 to reach EGP 680.406bn compared to EGP 636.766bn at the end of November 2017. According to a recent report by the Central Bank of Egypt (CBE), the volume of outstanding balances from treasury bonds in …

Daily News Egypt

Moody’s AFP

Moody’s ranks Egypt’s 1st movable collateral registry as credit positive for banks

Moody’s Investors Service announced on Sunday that Egypt’s first movable collateral registry, which was launched by the Financial Regulatory Authority last Sunday, is credit positive for Egyptian banks. The newly launched collateral registry will inform banks’ credit decisions and improve their ability to secure movable collateral, such as a borrowers’ machinery, inventory, patents, and crops, …

Mohamed Samir