64 h. ago Egypt’s foreign reserves rise to US$48.144 billion by the end of April: CBE

The Central Bank of Egypt (CBE) announced that the country’s net foreign exchange reserves rose to approximately US$48.144 billion by the end of April. According to data published on CBE’s website on Tuesday, Egypt’s foreign exchange reserves rose by approximately $387 million during April, from approximately $47.757 billion at the end of March 2025. This … The post Egypt’s foreign reserves rise to US$48.144 billion by the end of April: CBE appeared first on Egypt Independent.

Economics

9 d. ago CBE announces that all banks in Egypt will be closed on May 1 for Labor Day

The Central Bank of Egypt (CBE) announced in an official statement that the Labor Day holiday will apply for the banking sector and banks operating in Egypt. The CBE explained that on the occasion of Labor Day, all banks operating in Egypt will be closed, starting Thursday, May 1, 2025. It added that banks are … The post CBE announces that all banks in Egypt will be closed on May 1 for Labor Day appeared first on Egypt Independent.

Politics

2 w. ago Egypt, IME to discuss details of RST new financing this week, sources

The Egyptian government and Central Bank are expected to discuss ways to obtain the new financing via Resilience and Sustainability Facility (RST) recently approved by the International Monetary Fund (IMF), and to agree on the mechanisms and tranches for its transfer to Egypt. The discussions are anticipated during their participation in the spring meetings of … The post Egypt, IME to discuss details of RST new financing this week, sources appeared first on Egypt Independent.

Politics

2 w. ago Highest CDs returns in Egyptian banks after CBE cut interest rate

The Central Bank of Egypt (CBE) has decided to cut interest rates on Thursday by 225 basis points, bringing the deposit rate to 25 percent and the lending rate to 26 percent. This is the first rate cut in five years. In conjunction with this decision, many wondered about the fate of certificate of deposits … The post Highest CDs returns in Egyptian banks after CBE cut interest rate appeared first on Egypt Independent.

Politics

3 w. ago Egyptian banks cut interest rates on variable certificates following Central Bank move

In an automatic move responding to the Central Bank of Egypt’s reduction of key interest rates, banks operating in Egypt have decided to decrease interest rates on variable-yield certificates by 2.25%. The Monetary Policy Committee of the Central Bank “ALICO” announced a 225 basis point cut in the overnight deposit and lending rates, as well … The post Egyptian banks cut interest rates on variable certificates following Central Bank move appeared first on Egypt Independent.

Politics

3 w. ago Egypt Central Bank cuts interest rates for first time in 4 years

Egypt Central Bank cuts interest rates for first time in 4 years  Economy Middle East

Politics

3 w. ago Egypt: Goldman sees gold hitting $4,000 amid central bank demand, recession fears

Egypt: Goldman sees gold hitting $4,000 amid central bank demand, recession fears  ZAWYA

Economics

4 w. ago No minimum balance – Egyptian banks offer free accounts for financial inclusion in April

The Central Bank of Egypt (CBE) issued a statement on Thursday, announcing that banks operating in the Egyptian market will be opening free accounts for citizens with no minimum balance requirement until the end of April. The statement mentioned that on the occasion of “Arab Financial Inclusion Day,” employees of banks operating in the Egyptian … The post No minimum balance – Egyptian banks offer free accounts for financial inclusion in April appeared first on Egypt Independent.

Economics