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CBE raises daily withdrawal limit
The daily limit on over-the-counter withdrawals has been raised to EGP 250k
Current account deficit widens over 440% y-o-y in 1H FY 2023-24
The balance of payments was back in a deficit after two consecutive quarters of recording a surplus
THIS EVENING: CBE raises limits on cash withdrawals at bank branches + ATMs
Good afternoon, wonderful people, and welcome back. We hope you all had a restful long Eid El Fitr holiday, and…
South Africa’s Standard Bank Group to set up Egypt office in 2024. PLUS: BP projects float impact, EBRD funds SMEs, Eastern hikes smoke prices, Arabia Hotels builds new Giza Pyramids hotel
The South African bank’s presence in Egypt will allow the bank “to capitalize on the significant emergence of the Gulf-sub…
Central bank could impose fines on importers who abandon their goods at ports
The CBE is also looking into blacklisting the importers who don’t clear their goods from ports
Foreign reserves jump above USD 40 bn thanks to Ras El Hekma
Reserves rose by over USD 5 bn in March
Akef El Maghraby appointed as Suez Canal Bank’s new CEO and managing director
El Maghraby’s move is part of a wider shuffle that could see several other state-owned banks shake up their leadership
Net foreign liabilities narrow by USD 7.1 bn in February as Ras El Hekma funds start to reflect in banks’ sheets
It could be a matter of time before we see a larger improvement
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