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Fawry’s board nods for setting up consumer finance firm
The board of Fawry for Banking Technology and Electronic Payments gave the green light for establishing a new company, Fawry for Consumer Finance, at a capital of EGP 10 million.
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Egyptian Bourse proposes allowing SPAC listings
The Egyptian Exchange's (EGX) Chairman, Mohamed Farid, has submitted proposed amendments to the listing regulations to the Financial Regulatory Authority (FRA) to be reviewed as per the Capital Market…
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Egypt starts Industrial Modernization Centre restructure, Gamea
Egypt started of a comprehensive plan to restructure the Industrial Modernization Centre (IMC) with the aim of updating its regulations, and contractual and financial procedures, in order to achieve…
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Egypt’s financial regulator approves Eastern Co’s capital cut
The Egyptian Financial Regulatory Authority (FRA) approved the publication of a disclosure form submitted by Eastern Co.
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NBE signs EGP 311m deal with Orascom to finance sound and light show
The National Bank of Egypt (NBE) signed an agreement with Orascom Investment Holding to finance the development of the sound and light show at the Pyramids of Giza.
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Egypt sees 1 billion electronic banking transactions worth over EGP 2.8trn in FY 2020/21: CBE
The Egyptian banking system implemented about one billion electronic transactions, with a value exceeding EGP 2.8trn, during fiscal year (FY) 2020/21, compared to nearly EGP 1.9trn during FY 2019/20,…
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Egypt becomes Africa Finance Corporation’s 32nd member state, sees $1 bln investments
Egypt has become the 32nd member state of Africa Finance Corporation (AFC), the region’s leading infrastructure solutions provider, opening up a potential $1billion of investments.
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Egypt’s trade deficit narrows 28% in June – CAPMAS
Egypt's balance of trade deficit shrank by 27.8% to $2.94 billion in June, compared to $4.07 billion in the same month a year earlier,according to recent data from the Central Agency for Public…
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CBE likely to fix interest rate in next meeting – HC Securities
The Central Bank of Egypt (CBE) is expected to leave interest rates unchanged in its next meeting on Thursday, 16 September, according to a research note issued by HC Securities & Investment on…
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Agricultural Bank offers new facilities in ‘Bab Rizq’ microfinance programme
The Agricultural Bank of Egypt (ABE) has announced the provision of new facilities to the beneficiaries of “Bab Rizq” microfinance programme, as part of the Central Bank of Egypt’s (CBE) initiative to…
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