Central Bank of Egypt

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What we’re tracking on 11 May 2020

It’s a big news day at home and abroad as we grind through the days until Eid El Fitr starts…

Egypt’s foreign debt reaches USD 112.6 bn in 2Q2019-20

DEBT WATCH- Egypt’s total external debt rose 16% y-o-y in 2Q2019-2020 to USD 112.6 bn from USD 96.6 bn the…

CBE instructs local banks to comply with new int’l reporting standards

The Central Bank of Egypt has instructed local banks to comply with the latest International Financial Reporting Standards (IFRS9) to…

CBE sells almost USD 1 bn in one-year USD t-bills

The Central Bank of Egypt sold USD 975.4 mn of one-year USD-denominated treasury bills in an offering that was 1.3x…

Egyptian banks’ net foreign assets nearly halved in March amid covid-19 sell-off

“Egypt’s commercial banks provided USD to investors in March, helping keep the EGP stable during a bond selloff” in a…

Latest draft of the Banking Act is set to go to the House today; includes 1% industry development tax, appears to scrap proposed term limits on bank MDs

LEGISLATION WATCH- Latest draft of the Banking Act is set to go to the House today; includes 1% industry development…