On Sunday, the dollar fell from EGP 50.70 in some banks to EGP 47.76 to buy and EGP 47.90 to sell. Today, the dollar price at the Central Bank of …
Central Bank of Egypt
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Economy
CBE Directs Egyptian Banks to Remove Credit Card Foreign Spending Limits
by Nada Khaledby Nada KhaledThe Central Bank of Egypt (CBE) has just instructed banks to remove limits on foreign spending for all credit cards. The bank’s decision aims to strengthen the stability of the …
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The Central Bank of Egypt (CBE) has just issued new rules for customers who do not provide proof of use for their credit cards abroad within 90 days of using …
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EconomyHighlights
Solidarity Minister Inaugurates “Herafy” Program to Support Small Entrepreneurs
by Nada Khaledby Nada KhaledOn Thursday, January 25, Egypt’s Minister of Social Solidarity, Dr. Nevine Al-Kabbag launched the “Herafy” or “Craftsman” Program, in collaboration with the Central Bank of Egypt and several Egyptian banks to …
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The Central Bank of Egypt (CBE) has extended the guidelines requiring banks to distribute 25% of their credit facilities portfolio to micro, small, and medium-sized firms (MSMEs) for one year …
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EconomyHighlights
CBE Declares Next Thursday a Paid Holiday to Celebrate January 25 Revolution, Police Day
by Nada Khaledby Nada KhaledEarlier today, the Central Bank of Egypt (CBE) announced that next Thursday, January 25, will be an official paid holiday for all Egyptian banks to commemorate the anniversary of the …
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EconomyHighlights
Egypt’s Mediation in Gaza Expected to Boost Foreign Financial Support: Fitch Solutions’ BMI
by Mona Yousefby Mona YousefEgypt’s mediation role in the Israel-Hamas conflict in Gaza is expected to attract foreign financial support, exceeding $5 billion, according to Fitch Solutions’ BMI. Inflation is expected to slow down, …
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According to a government document released in January, the Central Bank of Egypt (CBE) plans to introduce the electronic pound by 2030 to enhance the efficiency of monetary policy. The …
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EconomyHighlights
CBE Transactions Presents Egyptian Pound’s Value Against BRICS Currencies in 2024
by Nada Khaledby Nada KhaledThe value of the Egyptian pound in comparison to the major currencies of the BRICS nations, as reported by their central banks and market transactions on December 31, 2023, is shown …
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EconomyHighlights
Central Bank of Egypt Extends Exemption of InstaPay’s Transaction Fees Until Further Notice
by Nada Khaledby Nada KhaledOn December 28, The Central Bank of Egypt (CBE) announced its new decision to continue offering free transactions through the InstaPay application and to revoke the fee imposition that was …