Central Bank of Egypt Directs Banks to Stop Using “Direct Debit Cards” for Customers Abroad

Central Bank of Egypt Directs Banks to Stop Using “Direct Debit Cards” for Customers Abroad

The Central Bank of Egypt directed banks operating in the country to stop using “direct debit cards” for customers abroad, and to limit their use inside Egypt only, without specifying the time period for implementing this directive, according to 4 heads of banks operating in Egypt who spoke to Al-Sharq. The verbal instructions to banks … Read more

Will Egypt join a free exchange rate for the pound after IMF approval?

1:52 PM Sunday 18 December 2022 I wrote – Manal Al-Masry: The bankers, with whom Masrawy spoke, linked Egypt’s ability, represented by the Central Bank of Egypt, to follow a flexible exchange rate system for the pound against foreign currencies, with the presence of strong flows of dollars to control the market, and adjusting the … Read more

When will the Central Bank meet to decide the decision to raise the interest rate?

3:21 pm Thursday 15 December 2022 I wrote – Manal Al-Masry: The Central Bank of Egypt intends to hold the last regular meeting of the Monetary Policy Committee during 2022 next Thursday, corresponding to December 22, to discuss the fate of the interest rate on deposits and loans, according to the meeting schedule published on … Read more

The increase in the price of the dollar today, Thursday, against the pound, by the end of trading

18:23 Thursday 17 November 2022 I wrote – Dina Khaled: The price of the dollar rose today, Thursday, against the pound, in 9 banks operating in Egypt, at the end of trading, compared to the end of trading yesterday. Prices in dollars today National Bank of Egypt: £24.42 for the purchase and £24.47 for the … Read more

Expectations of a new rate hike in Egypt after the Federal Reserve’s decision

21:34 Wednesday 02 November 2022 I wrote – Shaima Hefzy and Mustafa Eid: Two analysts, with whom Masrawy spoke, expected that the Central Bank of Egypt would resort to a new interest rate hike in the next period following the US Federal Reserve’s decision to raise interest rates today, Wednesday. The US Federal Reserve raised … Read more

The price of the dollar recorded its first rise against the pound after the increase in reserves

13:42 Monday 26th September 2022 – I wrote – Sherine Salah: The dollar against the pound rose today, Monday, in 6 banks, in full trading, compared to the level of the morning, while the price has stabilized in 4 other banks. On Thursday, the Central Bank of Egypt decided to raise the mandatory cash reserve … Read more

The Central Bank decides to fix the interest rate on deposits and loans. Infographic

The Monetary Policy Committee of the Central Bank of Egypt decided, at its meeting on Thursday 22 September 2022, to keep the interest rates on sight deposits and loans and the main operating rate of the central bank at the level of 11.25%, 12.25% and 11.75%, respectively. The credit and discount rate was also kept … Read more

The Central Bank sets the interest rate on deposits at 11.25% and loans at 12.25%

The Monetary Policy Committee of the Central Bank of Egypt decided, at its meeting today, Thursday, to set interest rates on deposits and loans for one night and the rate of the main operation of the Central Bank at 11.25 %, 12.25% and 11.75%, respectively. The Central Bank of Egypt has decided to set the … Read more

The decline of the pound. Did the Central Bank decide its decision and chose the gradual scenario?

I wrote – Manal Al-Masry: Bankers and economists have said that the Central Bank of Egypt has chosen to follow the policy of gradually reducing the exchange rate of the pound against the dollar, and this is what is currently happening on the ground, in order to avoid price shocks and highs. inflation rates in … Read more

Is Egypt benefiting from the collapse of the euro towards the dollar?

23:52 Tuesday 30th August 2022 – I wrote – Manal Al-Masry: Bankers reported that the fall in the value of the euro versus the dollar globally will not bring Egypt in abundance on the import invoice for Egypt, as the dollar’s toughness towards the euro differs from its power from the pound. thanks to the … Read more