Last month, the IMF said it reached a staff-level agreement with Egypt on the fourth review of the 46-month Extended Fund Facility arrangement
Central Bank of Egypt
Latest in Central Bank of Egypt
Central Bank of Egypt
Egypt secures IMF staff-level approval for $1.2bn funding in fourth review
The agreement includes recalibrating Egypt’s fiscal commitments to create space for critical social programmes benefiting vulnerable groups and the middle class, while ensuring debt sustainability
Apple Pay
Egypt’s central bank advances digital payments with tokenisation and Apple Pay integration
The launch was coordinated with several banks, mobile payment application providers, and fintech companies to facilitate the integration of both international and local systems
banking services
Egypt Central Bank to list United Bank stake on stock exchange by Q1 2025
Completion of the Offering is expected to take place before the end of the first quarter of 2025
Central Bank of Egypt
Egyptian central bank makes a surprise 2% hike in interest rates
Some analysts believe the rate hike move may indicate that a currency devaluation is on the way
CBUAE
UAE and Egypt sign $1.4bn currency swap deal
UAE and Egypt’s central banks sign local currency exchange deal
Central Bank of Egypt
Egypt’s central bank hikes interest rates by 100 basis points
The lending rate is increased to 20.25% and the deposit rate to 19.25%
Central Bank of Egypt
Egypt central bank holds interest rates unchanged
The bank cited signs of decline in commodity prices and a recovery in economic growth for its decision
Central Bank of Egypt
Central Bank of Egypt raises key interest rates by 2% for the first time in 2023
This is the first increase this year, as the CBE maintained its unchanged interest rates during its February meeting
Central Bank of Egypt
Egypt keeps key policy rates unchanged
The move comes amid dovish signals from other central banks, including the US Federal Reserve in tightening of monetary policies
Central Bank of Egypt
Egyptian central bank beat market expectations with a 3% rate hike
The hike is more than the 200 basis points predicted by an analysts’ poll earlier
Central Bank of Egypt
Egyptian pound plummets, stock market rebounds after 2% rate hike by the central bank
The bank also announced the start of a ‘durably flexible exchange rate regime’, which will measure the Egyptian pound against other foreign currencies
Central Bank of Egypt
Egyptian central bank keeps key interest rates unchanged
The bank’s surprise move comes amid hiking of lending rates by central banks in many countries to tame rising inflation
cbe
Egypt’s central bank lifts restrictions on cash withdrawals at banks, ATMs
The country has also reported doubling of its GDP growth to 6.6 percent in 2021-22 from 3.3 percent in the previous fiscal year
ADQ
Saudi Arabia pledges $15 billion to support Egypt after Qatar and the UAE step in to aid the nation’s economy
Qatar has pledged $5 billion in investments into Egypt while Abu Dhabi wealth fund ADQ has revealed a $2 billion deal to buy Egyptian state-owned stakes in publicly listed companies
Banque du Caire
Egypt’s largest national banks, VC firm Global Ventures launch fintech fund approved by the Central Bank of Egypt
The fund creates opportunities for investors and entrepreneurs to come together and create scalable and affordable financial technology solutions that boost Egypt’s fintech sector and drive the nation’s economy forward