Company Insights Central Bank of Egypt Banking & Finance Central Bank of Egypt Overview The first central bank in Egypt was the National Bank of Egypt, but this was nationalised in 1960 and the Egyptian government created the Central Bank of Egypt, which took over the role of note issuer. It is the central bank and monetary authority of the Arab Republic of Egypt, and its functions include regulating Egypt’s banks and banking system, formulating and implementing its monetary policies, and managing and regulating Egypt’s gold and foreign exchange reserves. It also supervises the national payments system, manages Egypt’s external debt, prevents monopolistic practices and servesas an adviser and financial agent to the Egyptian government. The president of Egypt appoints the governor of the Central Bank to a four-year term, subject to legislative confirmation. Central Bank of Egypt News Opinion Banking & Finance There’s no easy fix for Lebanon’s banking collapse New Central Bank governer Karim Souaid needs all the help he can get April 17, 2025 Finance Remittances to Egypt rise as reforms instill confidence Remittances from Egyptian expatriates rose for 11 consecutive months following the start of economic reforms introduced in March 2024. Overseas Egyptians sent home $20 billion between July and January — the first seven months of the 2024-2025 fiscal year — an increase of 81 percent from $11 billion a year ago, according to the Central […] April 17, 2025 Economy Food prices push up Egyptian inflation in March Food prices caused Egyptian inflation to increase in March. Egypt’s annual urban consumer price inflation accelerated to an annualised 13.6 percent in March, 1.5 percentage points higher than February, according to data from Egyptian statistics agency Capmas. The increase was driven by a near 3 percent increase in food prices. Cereals and bread were up […] April 10, 2025 Economy Egypt targets new $3bn funding despite IMF loan Egypt aims to raise nearly $3 billion by the end of the current fiscal year, which ends in June 2025, finance minister Ahmed Kouchouk has said. The funding will be secured through diverse issuances, Reuters reported, citing an interview with Kouchouk on ONtv, an Arabic-language channel. Kouchouk said Egypt expects to receive $1.2 billion from […] January 6, 2025 Retail MAF Lifestyle awaits ‘stability’ before entering Egypt The lifestyle arm of the UAE conglomerate Majid Al Futtaim is looking for opportunities to expand into Egypt. However, there must be “stability” in the country before any move is made, MAF Lifestyle’s CEO, Fahed Ghanim, has told AGBI. Majid Al Futtaim as a group already runs operations in Egypt, including the Mall of Egypt […] December 30, 2024 Economy Egypt gets IMF’s initial nod for $1.2bn loan tranche The International Monetary Fund (IMF) and Egypt have reached a staff-level agreement, paving the way for the release of $1.2 billion on the fourth review under its extended fund facility. The loan disbursal, however, is subject to approval by the fund’s executive board. “The Egyptian authorities have continued to implement key policies to preserve macroeconomic […] December 25, 2024 Opinion Banking & Finance Politics will rule in the surreal world of Syrian banking Do not expect the country to have an efficient system any time soon December 19, 2024 Economy Kuwait renews $2bn deposit with Central Bank of Egypt Kuwait has renewed a $2 billion deposit with Egypt for an additional year, the Central Bank of Egypt (CBE) said in its latest external report. The deposit, scheduled to be due in April 2024, will now mature in April 2025. The Gulf nation currently holds $4 billion in deposits with the CBE. While one tranche […] December 4, 2024 Banking & Finance Retail investors offered 1.5% of Egypt’s United Bank in IPO A small stake in Egypt’s United Bank is to be offered to retail investors on Wednesday, when 16.5 million shares of the state-owned bank will be floated on the Egyptian Exchange as part of an IPO. The retail tranche, 1.5 percent of the bank’s shares, is part of an initial public offering of 330 million […] November 26, 2024 Economy Egypt’s central bank keeps key rates steady The Central Bank of Egypt has kept its key interest rates steady as economic growth remains below potential. The lending rate was unchanged at 28.25 percent, while the deposit rate remained at 27.25 percent, the monetary policy committee (MPC) said in a statement. “Projections for Q4 2024 show that while economic activity continues to pick […] November 22, 2024 Posts navigation 1 2 … 8 Next
Opinion Banking & Finance There’s no easy fix for Lebanon’s banking collapse New Central Bank governer Karim Souaid needs all the help he can get April 17, 2025
Finance Remittances to Egypt rise as reforms instill confidence Remittances from Egyptian expatriates rose for 11 consecutive months following the start of economic reforms introduced in March 2024. Overseas Egyptians sent home $20 billion between July and January — the first seven months of the 2024-2025 fiscal year — an increase of 81 percent from $11 billion a year ago, according to the Central […] April 17, 2025
Economy Food prices push up Egyptian inflation in March Food prices caused Egyptian inflation to increase in March. Egypt’s annual urban consumer price inflation accelerated to an annualised 13.6 percent in March, 1.5 percentage points higher than February, according to data from Egyptian statistics agency Capmas. The increase was driven by a near 3 percent increase in food prices. Cereals and bread were up […] April 10, 2025
Economy Egypt targets new $3bn funding despite IMF loan Egypt aims to raise nearly $3 billion by the end of the current fiscal year, which ends in June 2025, finance minister Ahmed Kouchouk has said. The funding will be secured through diverse issuances, Reuters reported, citing an interview with Kouchouk on ONtv, an Arabic-language channel. Kouchouk said Egypt expects to receive $1.2 billion from […] January 6, 2025
Retail MAF Lifestyle awaits ‘stability’ before entering Egypt The lifestyle arm of the UAE conglomerate Majid Al Futtaim is looking for opportunities to expand into Egypt. However, there must be “stability” in the country before any move is made, MAF Lifestyle’s CEO, Fahed Ghanim, has told AGBI. Majid Al Futtaim as a group already runs operations in Egypt, including the Mall of Egypt […] December 30, 2024
Economy Egypt gets IMF’s initial nod for $1.2bn loan tranche The International Monetary Fund (IMF) and Egypt have reached a staff-level agreement, paving the way for the release of $1.2 billion on the fourth review under its extended fund facility. The loan disbursal, however, is subject to approval by the fund’s executive board. “The Egyptian authorities have continued to implement key policies to preserve macroeconomic […] December 25, 2024
Opinion Banking & Finance Politics will rule in the surreal world of Syrian banking Do not expect the country to have an efficient system any time soon December 19, 2024
Economy Kuwait renews $2bn deposit with Central Bank of Egypt Kuwait has renewed a $2 billion deposit with Egypt for an additional year, the Central Bank of Egypt (CBE) said in its latest external report. The deposit, scheduled to be due in April 2024, will now mature in April 2025. The Gulf nation currently holds $4 billion in deposits with the CBE. While one tranche […] December 4, 2024
Banking & Finance Retail investors offered 1.5% of Egypt’s United Bank in IPO A small stake in Egypt’s United Bank is to be offered to retail investors on Wednesday, when 16.5 million shares of the state-owned bank will be floated on the Egyptian Exchange as part of an IPO. The retail tranche, 1.5 percent of the bank’s shares, is part of an initial public offering of 330 million […] November 26, 2024
Economy Egypt’s central bank keeps key rates steady The Central Bank of Egypt has kept its key interest rates steady as economic growth remains below potential. The lending rate was unchanged at 28.25 percent, while the deposit rate remained at 27.25 percent, the monetary policy committee (MPC) said in a statement. “Projections for Q4 2024 show that while economic activity continues to pick […] November 22, 2024
