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Amer’s latest regulations for dollar availability act as a warning to uncommitted banks, experts say
Bilateral talks between the Ministries of Electricity and Finance are taking place in order to set a mechanism and vision to obtain foreign exchange to enable investors in the renewable energy sector to pay the instalments and interests of their loans.
It maintained the exchange rate of the dollar against the pound at this periodic auction at EGP 7.73, which led to stabilising the dollar price at banks at a bidding price of EGP 7.78 and an asking price of EGP 7.83.
Six other banks await a judicial ruling for exemption
Five UAE banks currently operate in the Egyptian market; Emirates NBD, the National Bank of Abu Dhabi, Abu Dhabi Islamic Bank, Union National Bank, and Mashreq.
Bank opened six new branches and banking units, plans to expand in about eight governorates
EGP 29.5bn increase in deposits, EGP 10.7bn increase in bank loans during August: CBE
Banks offered to invest EGP 252bn in CBE deposits for one day and employ dozens of billions in corridor
Creation of Suez Canal is a catalyst to build a new tourism hub, and Ain Sokhna particularly in the immediate future, says Head of Hotels (MENA) at Colliers International
The bank’s loans-to-deposits ratio increased to 58%, compared to the 41% average in the banking system
Banks are keen to loan to SMEs; now however is not the right time due to the high unpredictability in the economics in Egypt, says Levari Law Founder
The CBE raised the Deposit Operation mechanism on Monday, in order to absorb excess liquidity from banks operating in the Egyptian market.
Finance ministry to issue treasury bills worth EGP 199.5bn, bonds worth EGP 82bn from October to end of December
81% decline in banks’ value of savings during FY 2013/2014
The CBE could help banks do both if provided with sufficient liquidity, says former governor
Plans to double issued capital to EGP 100m by H1 of 2016
Challenges include adjusting foreign exchange market, rebuilding reserves, and controlling inflation, say analysts
There is much space for future PPPs in infrastructure, port expansions, and industrial and logistics zones, says Shousha
Banks should offer new products and incentives suitable for low-income citizens, reconsider interest rate on loans and ease loans procedures, says El-Khawaga
Ratings agency Moody’s upgrades banking sector outlook from negative to stable
First general assembly will be held, board of directors elected Thursday
EGP 138.7bn invested in CBE and EGP 20.75bn in treasury bonds, treasury bills
Administrative court’s decision not to subdue bank employees to the maximum wage is final, immediately enforceable, says legal consultant
Two bank alliances, consisting of 12 banks, compete to grant company EGP 2.4bn
Mediation fails between the banking sector and the government over obliging banks to pay tax on defaulters’ real estate
Big banks that would be asked to execute plan are NBE, Banque Misr, Housing and Development Bank, CIB, and Barclays
On 15 May, Standard and Poor’s revised its outlook on Egypt, raising it from stable to positive
Regulations offered to facilitate application of property tax law
The step was taken to increase the supply of the US dollar in the Egyptian market, and fight the black or parallel market.