Tag: Fitch Ratings
Fitch says GCC banks show robust appetite for global expansion
GCC banks’ interest in Egypt is gaining momentum, driven by the improved macroeconomic environment
SAMA regulations enhance Saudi Islamic banks’ Sharia governance, Fitch says
The regulations issued cover profit-sharing investment accounts and aim to enhance Sharia compliance
Bank of Sharjah reports net profit of AED80 million in Q1 2024
The bank’s robust metrics result from strict adherence to a focused approach to funding, lending, and operational effectiveness
Fitch affirms Ajman Bank’s ratings at ‘AA+’, outlook ‘stable’
The bank’s rating is driven by potential support from the UAE authorities if needed, as reflected in its government support rating of “bbb+”
Egypt’s credit score downgraded by Fitch Ratings to ‘B-‘
The ratings agency said it expects Egypt to face a significant rise in external debt maturities in fiscal years ending June 2024 and June 2025
Islamic funds’ assets under management fall on rate rises
The decline was driven by investor outflow mainly due to rising interest rates and financial market volatility.
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 inflation accelerates to 16.2% in October on soaring food costs
The latest data from Egypt’s CAPMAS showed that annual urban inflation accelerated to a four-year high of 16.2% in October and economists expect it...