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CBE pays 25% of credit facilitation for importers

The Central Bank of Egypt has repaid approximately 25% ($1bn) of the total credit facilitations granted by banks for importers in the past period, according to a banking official. The transaction was completed on Sunday, at a dollar rate of EGP 7.7401. The official said banks received an e-mail from the CBE on Sunday evening, stating …

Hossam Mounir

Amer requests bank leaders to support SMEs, arrange credit facilitations

Governor of the Central Bank of Egypt (CBE) Tarek Amer requested bank leaders operating in the local market to support small and medium-sized enterprises (SMEs) and arrange credit facilitations with corresponding banks abroad to finance import operations. Amer met with chairpersons of banks operating in the Egyptian market and their deputies Wednesday afternoon in the …

Hossam Mounir

Construction sector anticipates solutions with new CBE governor

The construction sector is anticipating the arrival of vital solutions with the appointment of Tarek Amer as the governor of Central Bank of Egypt (CBE), according to Daker Abdellah, member of Egyptian Businessmen’s Association and Egyptian Federation for Construction and Building Contractors (EFCBC). Amer’s experience and knowledge of all problems facing the economy in various …

Hossam Mounir

Amer: CBE’s 13th governor

The Central Bank law No. 88 for 2003 provides in article 10 that the governor is appointed by a presidential decree on the nomination of the Prime Minister for a period of 4 years, subject to renewal.

Hossam Mounir