2 w. ago Egypt: Market awaits reopening of banks to gauge impact of CBE’s 2.25% rate cut on savings, loans

Egypt: Market awaits reopening of banks to gauge impact of CBE’s 2.25% rate cut on savings, loans  ZAWYA

Economics

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: HC expects CBE to cut interest rates by 150 bps at April 17th meeting

Egypt: HC expects CBE to cut interest rates by 150 bps at April 17th meeting  ZAWYA

Politics

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