Tag: #Central Bank of Egypt
Egypt’s Taly unveils full-fledged digital payments ecosystem
The payments firm said its pioneering solutions facilitate payments between banks, corporates and consumers through a seamless ecosystem.
Commercial International Bank fully acquires Mayfair CIB for $40 million
Commercial International Bank (CIB) said Sunday that it has acquired the 49% stake it did not own in Mayfair CIB for $40 million giving...
Egypt gets $925 million from foreign investors after currency devaluation
Egypt received over $925 million in foreign-exchange inflows since 11 January 2023 when the pound plunged by 16% to an all-time low of 32.1...
Egypt’s central bank hikes key interest rates by 300 bps
Egypt hiked overnight interest rates by a more-than-expected 300 basis points (bps) on Thursday, the most since 2016, as part of the authorities’ broader...
Saudi wealth fund PIF reportedly plans to acquire Egypt’s United Bank for $600 million
Saudi Arabia’s Public Investment Fund (PIF) is reportedly in advanced talks to acquire Egypt’s United Bank in a deal that could value the state-owned...
Central Bank of Egypt plans to develop new currency indicator
Egypt’s central bank governor said Sunday that the country plans to develop a new currency indicator and add instruments to hedge against risks as...
Egypt’s Telda raises $20 million in seed round led by Global Founders Capital
Telda, an Egyptian consumer money app, raised $20 million in a seed funding round led by Global Founders Capital (GFC) with participation from Sequoia...
IMF calls talks with Egyptian authorities on new program “productive”
The International Monetary Fund (IMF) said that it held productive discussions during a staff visit to Egypt on economic policies and reforms to be...
Egypt’s central bank keeps key interest rates unchanged
The Central Bank of Egypt (CBE) kept its interest rates unchanged on Thursday, saying the ongoing war in Ukraine is among the main external...
Central Bank of Egypt: Overall market value of Egypt’s banks neared 9 trillion EGP...
The total financial position of banks working in the Egyptian market increased by around EGP 1.006 Tn from July 2021, achieving EGP 8.954Tn by...