2023-09-21 20:49:19 Cairo, Egypt (CNN) – The Central Bank of Egypt decided, on Thursday, to maintain the deposit and lending return rates at the level of 19.25% and 20.25%, respectively, attributing the reason for this to “the consistency of the inflation data with the bank’s expectations,” while bankers believe that Increasing interest rates “is no … Read more
2023-07-12 15:06:00 A U A Wednesday, July 12, 2023 06:06 PM Today, Wednesday, the Central Bank of Egypt issued the rules for licensing, registering, monitoring and supervising digital banks, which represents an important step in keeping pace with global developments in the financial technology industry and meeting the needs of customers in the Egyptian market. … Read more
2023-07-01 06:08:00 Cairo – Safa Dollar prices today in Egypt Today, Saturday, July 1, 2023, dollar prices in Egypt witnessed a noticeable decrease at the beginning of daily trading, reaching 30.87 Egyptian pounds, while foreign currencies in Egypt witnessed noticeable changes. Currency rates on the black market today in Egypt “Safa” agency provides, in detail, … Read more
2023-05-10 13:59:35 With the rise in inflation rates in the country, which exceeded 40% last February, before retreating after that, many citizens are looking for a real refuge that protects their money from the current and upcoming eroding pressures. In the following lines, (The Week) provides some important details about certificates of savings in Egyptian … Read more
Today, Tuesday, March 28, 2023, the price of the dollar rose on the black market by about 3 pounds against the Egyptian pound. Sources told The Weekly that the price of the dollar against the pound increased today in the parallel market, bringing the buying and selling price to 38 and 37.5 pounds, respectively, compared … Read more
The decision aims to encourage the transition to a cashless society and meet the needs of customers after the large boom in the volume of financial transactions on the network during the past year. Within the framework of implementing the strategy of the National Council for Payments headed by President Abdel Fattah El-Sisi to support … Read more
Cairo, Egypt (CNN) — Egypt issued, for the first time in its history, sovereign Islamic sukuk worth $1.5 billion, with a return of 11%, to finance investment and development projects included in the public budget. Economists stressed the importance of issuing sukuk to cover the gap in demand for foreign exchange, and to enhance investor … Read more
Cairo, Egypt (CNN) – The European Bank for Reconstruction and Development has joined the list of major international institutions that have lowered expectations for the growth of the Egyptian economy during 2023. In its latest report, the bank expected a decline in the economic growth rate to 4.6%, compared to 5.6% in its previous report … Read more