On 1st Day of the AFDB Annual Meeting,

CBE Deputy Governor Urges Facilitating Private Sector’s Access To Emerging Markets The 58th Annual Meetings of the Board of Governors of the African Development Bank (AfDB) and the 49th Meetings of the Board of Governors of the African Development Fund kicked off on Monday in Sharm El-Sheikh. During one of the panel discussions held on […]

Annual Meetings of the African Development Bank Group Hosted by CBE Kick off in Sharm El-Sheikh

Under the auspices of Egyptian President Abdel Fattah El-Sisi & represented by the Central Bank of Egypt, Egypt is hosting the African Development Bank Group’s Annual Meetings from May 22nd-26th, 2023. The first side event for Egypt, entitled “Mobilizing Blended Finance to Facilitate the Green Transition in Emerging Economies” kicked off yesterday, moderated by Mr. […]

Egyptians May Now Open Bank Accounts with No Minimum Deposit Requirement

The Central Bank of Egypt (CBE) will now allow anyone to create an account without the requirement of a minimum deposit or a charge, according to a statement released on Sunday. This is part of a bigger set of efforts launched on April 27 for Arab Day for Financial Inclusion. These initiatives include several ‘Bedaya’ […]

Presidential Directives to Fully Support African Development Bank Group

Tomorrow, the activities of the annual meetings of the African Development Bank Group will begin in Sharm El-Sheikh from May 22 to 26, under the slogan “Mobilizing Private Sector Financing for Climate and Green Growth in Africa”, with the presence of about 4,000 participants, led by state governors. Members are from eighty-one countries, including finance […]

CBE Awarded ISO Accreditation in Business Continuity Management

According to a statement issued by CBE on Saturday, May 20, the Central Bank of Egypt (CBE) recently received “ISO 22301:2019” Certification in Business Continuity Management (BCM) from MSECB, a leading provider of quality certification and branding in the Middle East and North Africa region. MSECB granted the certification to the bank in collaboration with […]

CBE Announces 2-day Bank Holiday for Easter, Sham El-Nessim

The Central Bank of Egypt (CBE) just announced that banks operating in Egypt will be closed on Sunday and Monday, 16-17 April, on the occasion of the Christian holiday of Easter and the Egyptian spring festival of Sham El-Nessim. In their statement, issued on Sunday, the CBE stated: On the occasion of Easter and Sham […]

CBE Explains Reasons for Raising Interest Rates by 200 bps

The Monetary Policy Committee (MPC) in its meeting on Thursday 30/3/2023 decided to raise the Central Bank of Egypt’s (CBE) overnight deposit rate, overnight lending rate, and the rate of the main operation by 200 bps to 18.25%, 19.25%, and 18.75%, respectively. The discount rate was also raised by 200 bps to 18.75%. On the […]

CBE Raises Interest Rates by 200 Points (2%)

Yesterday, March 30, Egypt’s central bank’s Monetary Policy Committee (MPC) raised the interest rates by 2% in response to the skyrocketing inflation. Moreover, the MPC raised the overnight deposit rate to 18.25%, the overnight lending rate to 19.25%, and the main operation rate to 18.75%. Notably, the committee had a meeting back in February, but […]

CBE: E-Payment Cards Posted 57.475 Mln During 2022

The payment cards issued by banks operating in the Egyptian market, including instant payment cards, prepaid cards, and credit cards increased to 57.475 million in 2022, according to the Central Bank of Egypt (CBE). The number of electronic payment cards was 26.280 million cards in 2017, 29.808 million in 2018, 36.965 million in 2019, 44.826 […]