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Banks allowed to recognize profit in capital after audit, without need for other approvals
The central bank has issued a directive allowing banks to factor interim profits as part of their capital base for…
Banking
EFSA’s unified code for over-the-counter transactions comes into effect
The Egyptian Financial Supervisory Authority’s new unified code for the OTC market came into effect on Sunday after being published…
T-bill yields continue to rise
Average yields on Egypt's three-month and nine-month t-bills rose to an average of 19.09% and 18.49%, respectively, on Sunday, according…
FX bureaus want the CBE to allow them to supply more than one bank at a time
FX bureaus want the CBE to allow them to supply FX to more than one bank at a time to…
Naguib Sawiris, other Beltone Financial execs get seats on Auerbach Grayson’s board
OTMT Chairman Naguib Sawiris, Beltone Financial’s CEO Bassem Azab, and board member Ayman Suleiman have been added the Auerbach Grayson’s…
Banque Misr receives USD 80 mn from Credit Suisse
Banque Misr has received an USD 80 mn tranche in funding from Credit Suisse, Banque Misr Vice Chairman Akef El…
Al-Futtaim chooses banking consortium for EGP 1.2 bn facility
Al-Futtaim Group Real Estate tapped four banks for a EGP 1.2 bn syndicated loan to be used for debt restructuring,…
Banks begin reducing rates on high-yield CDs
A number of banks have scrapped their high-yield certificates of deposit and began repricing them at rates 100-300bps lower than…
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