Egypt Edition 
MENA+ Edition 
UAE Edition 
Saudi Edition 
AI + Innovation (MENA) 
Logistics (MENA) 
Savers pour EGP 471 bn into high-yield CDs. PLUS: Mining tender + subsea cable incoming.
Savers have poured some EGP 305 bn in CDs with NBE and EGP 166 bn with BM’s
aiBank and Valu roll out new co-branded credit card. PLUS: Sidpec’s net income doubles in 2023, CIRA absorbs three subsidiaries
The card’s features include 1% cashback on food, beverages, and fuel.
NBE becomes the latest bank to cut credit card FX limits
The cuts come amid a push by the central bank to curb FX spending
CIB, ADIB cut credit card limits on FX spending
The central bank has been tightening its grip on FX transactions in recent months
Banks impose minimum interest rate of 24% on secured loans
The new minimum came into effect on Monday following instructions from the CBE
New 27% CDs bring in EGP 11 bn on day one
The two banks introduced the record-high yield CDs over the weekend
CBE introduces new anti-money laundering rules for better cash flow monitoring
Banks will have a six-month window to implement the new measures
Got a new credit card this morning? You can’t use it for FX purchases for six months.
The move comes in response to a recent surge in credit card issuances
Something went wrong. Please refresh the page and/or try again.