On Monday, November 27, the Chairman of the Board of Directors of Banque Misr, Mr. Mohamed El-Etreby, and the President of the National Council for Women, Dr. Maya Morsy, signed a cooperation protocol to empower women economically and enhance the financial inclusion of Egyptian women within the framework of Banque Misr’s pioneering role in the field of financial inclusion. The newl ...

The value of the dollar remained steady at Egypt’s major banks at the start of today’s transactions. The dollar rate was recorded at EGP 30.85 for selling and EGP 30.75 for buying at the National Bank of Egypt (NBE) and Banque Misr. The dollar exchange rate at the Commercial International Bank (CIB) was EGP 30.85 for buying and 30.95 for selling.< ...

President Abdel Fattah El-Sisi issued Presidential Decree No. 551 for the year 2023 to restructure the Board of Directors of the Central Bank of Egypt. According to the presidential decree, the Board of Directors of the Central Bank of Egypt will be chaired by Hassan El Sayed Hassan Abdullah, acting as the Governor of the Central Bank, effective from November 27, 2023, for a one-year ...

On Tuesday, November 21, Yasmine Fouad, the Egyptian Minister of Environment, took part in the opening of the EIB Regional Headquarters for North Africa and the Near East. She took part in the panel discussion on enhancing regional impact and the Bank’s international partnership as well. Fouad emphasized during the discussion that the Egyptian government’s ...

In honor of Women’s Entrepreneurship Day, which falls on 19 November, the European Bank for Reconstruction and Development (EBRD) shines a spotlight on the remarkable achievements of three inspiring women-led businesses. These entrepreneurs have thrived with the support of the EBRD’s Women in Business program, which empowers women entrepreneurs by providing financi ...

The Central Bank’s Deputy Governor, Ayman Hussein, disclosed that in just a year and a half, the InstaPay app was able to garner 6.2 million users. During the 27th International Technology Conference for the Middle East and Africa (Cairo ICT 23), he noted that the nation has a robust cybersecurity system in place for the 1.2 million electronic points of sale and 23,000 ATMs.

Amid the devastating Israeli war on Gaza, the International Monetary Fund (IMF) is considering expanding Egypt’s $3 billion loan program by an unspecified amount, Kristalina Georgieva, the fund’s managing director, said on Friday. Georgieva acknowledged the severe economic difficulties faced by Egypt as a result of the war, during an interview with Reuters on the sidelines of ...

According to a study released by the Ministry of Planning and Economic Development, the Egyptian government boosted investments in agriculture and irrigation by 71 percent year on year (YoY) to EGP 116.6 billion ($3.77 billion) for fiscal year (FY) 2023/2024. The governmental plan includes increasing private investments in the sector by 44 percent of total investments. The ...

The Central Bank of Egypt (CBE) has recently announced an increase in daily and monthly transaction limits on financial inclusion accounts, prepaid cards, and mobile banking by 100%. According to a circular released on Wednesday, the daily limits for individuals have been raised from EGP 30,000 to EGP 60,000, while the monthly limit has been increased from EGP 100,000 to EGP 200,000 ...

Egypt’s Strategy for Competition Policies and Competitive Neutrality wins World Bank Award, says Egyptian Competition Authority (ECA) statement on Sunday. Egypt has been awarded for its diligent efforts to improve economic competition in 2023. The country has fostered a climate of free competition, eliminated barriers, expanded into new markets, and ensured a level playing fiel ...