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28 March 02:04 PM

Central Banks

Ministry of Finance - Saudi Arabia
27 March 06:21 PM Saudi Arabia closes March Sukuk issuance
Riyadh – Mubasher: The Saudi Ministry of Finance has closed the March 2020 issuance under the Saudi Arabian Government SAR-denominated Sukuk program. With an issuance size of SAR 15.568 billion, the offering was through three tranches, according …
Sukuk and Islamic Finance
President of Egypt, Abdel Fattah El-Sisi
27 March 06:07 PM Egypt calls for African debt relief by G20 countries
Cairo – Mubasher: President of Egypt, Abdel Fattah El-Sisi, has presented an initiative to the G20 group to consider easing debt burdens on African countries, in light of the impacts of the coronavirus (COVID-19) crisis on the continent’s …
The first tranche of the bills will be offered through 182-day notes
26 March 10:51 AM CBE issues EGP 20.5bn T-bills on Thursday
Cairo – Mubasher: The Central Bank of Egypt (CBE) will issue EGP 20.5 billion worth of treasury bills (T-bills) on Thursday, in coordination with the Ministry of Finance (MOF) to finance the budget deficit. The first tranche of the bills will be …
Treasury Bills
This decision aims to help tourist facilities pay salaries and commitments
24 March 04:03 PM CBE offers 2-year loans to tourist facilities
Cairo – Mubasher: The Central Bank of Egypt (CBE) has decided to grant tourist facilities two-year loans with a six-month grace period. This decision aims to help the sector pay for employee salaries, supplies, and maintenance works, according to …
Banking and Finance
Egypt's domestic liquidity rose by 0.73% on a monthly basis
23 March 04:35 PM Egypt records EGP 4.14trn domestic liquidity in January 2020
Cairo – Mubasher: Egypt's domestic liquidity rose by 0.73% month-on-month (MoM) to EGP 4.14 trillion in January 2020, versus EGP 4.11 trillion in December 2019, continuing its growth since freeing exchange rates in November 2016. On an annual …
Sector Reports
The new agenda will be announced in due course
23 March 12:06 PM KFH amends timeline of AUB’s acquisition deal
Mubasher: Kuwait Finance House (KFH) has amended the timeline applicable to its acquisition offer of Bahrain’s Ahli United Bank’s (AUB) total issued share capital in response to Kuwait’s decision to suspend work in public entities until 12 April, …
Companies Investments
The first tranche of the T-donds amounts to EGP 4 billion
23 March 10:14 AM CBE sells EGP 7.5bn T-bonds Monday
Cairo – Mubasher: The Central Bank of Egypt (CBE) on Monday offered treasury bonds (T-bonds) worth EGP 7.5 billion, in coordination with the Ministry of Finance (MoF) to finance the budget deficit. The first tranche is five-year T-bonds that …
Banking and Finance
Rate on floating certificates of deposits was cut to 10.5%
22 March 03:56 PM Banque du Caire maintains certificates interest rates unchanged
By: Islam Fadl Cairo – Mubasher: The asset-liability committee (ALCO) of Banque du Caire decided to keep the rate of return on the fixed-rate certificates of deposits unchanged despite the Central Bank of Egypt’s (CBE) recent decision to …
Central Banks
CBUAE data showed a 4% increase in credit facilities last month
22 March 01:37 PM UAE bank loans rise to AED 1.7bn in February
UAE – Mubasher: Data by the Central Bank of the UAE (CBUAE) showed a 4% increase in the credit facilities granted by local banks to AED 1.745 billion in February 2020 from AED 1.671 billion during the same month of 2019. Loans provided to the …
Banking and Finance
Central Bank of Egypt (CBE)
22 March 10:08 AM CBE issues EGP 14.5bn T-bills
Cairo – Mubasher: The Central Bank of Egypt (CBE) will issue treasury bills (T-bills) worth EGP 14.5 billion on Sunday, in coordination with the Ministry of Finance (MoF) to bridge the budget deficit. The issuance will be through two tranches, …
Treasury Bills
Remittances surged by $437.1 million in December 2019
19 March 04:27 PM Remittances of Egyptian expats hit $26.8bn in 2019
Cairo – Mubasher: Remittances of Egyptians abroad grew by $1.3 billion or 5% year-on-year (YoY) during 2019, initial data showed. Egyptian expats’ remittances rose to $26.8 billion last year from $25.5 billion in 2018, the Central Bank of Egypt …
Banking and Finance
The issuance will be used to finance the country’s budget deficit
19 March 11:32 AM CBE offers EGP 20.5bn T-bills on Thursday
Cairo – Mubasher: The Central Bank of Egypt (CBE) will offer treasury bills (T-bills) worth EGP 20.5 billion on Thursday on behalf of the Ministry of Finance. The first tranche of the T-bills amounts to EGP 10 billion and will be offered through …
Banking and Finance
The new mechanism protects funds in dormant accounts
18 March 12:07 PM CBUAE issues regulation for dormant accounts
UAE – Mubasher: The Central Bank of the UAE (CBUAE) has issued the dormant account regulation to protect the funds of dormant customers in all banks operating in the UAE. The regulation ensures that funds in dormant accounts are kept safe and …
Banking and Finance
Lawsuits against about 220,000 people will be dropped
17 March 04:54 PM Egypt expected to cancel EGP 9.9bn loans under CBE’s initiative
Cairo – Mubasher: Egypt is expected to see the cancellation of EGP 9.9 billion worth of debt due to the Central Bank of Egypt’s (CBE) initiative to support individuals with non-performing loans (NPLs) valued at less than EGP 1 million, a source …
Banking and Finance
The Ministry of Finance could save up to EGP 30 billion from this decision
17 March 04:38 PM Rate cut to inject EGP 100bn into market – Banking official
Cairo – Mubasher: The Central Bank of Egypt’s (CBE) decision to cut interest rates by 300 basis points is expected to provide the market with liquidity of more than EGP 100 billion, a banking source told the Middle East News Agency (MENA) on …
Central Banks
Balance and deposits abroad increased by 27.6%
17 March 12:42 PM CBUAE’s foreign assets hit AED 406bn in February
UAE – Mubasher: The foreign currency balance at the Central Bank of the UAE (CBUAE) climbed by 13% or AED 47 billion to AED 406 billion in February 2020, compared to AED 359 billion during the same month of 2019, according to the Emirates News …
Macroeconomics
The initiative will be effective as of 31 March 2021
17 March 10:54 AM CBE extends loan repayment period
Cairo – Mubasher: The Central Bank of Egypt (CBE) ordered banks to extend the maturity date of all loans, including consumer, mortgage, and personal loans, for a period of six months. No late payment fees will be applied over the mentioned …
Central Banks
The CBE slashed interest rates by 300 basis points
17 March 10:51 AM CBE drops cash cover requirement for key food products for a year
Cairo – Mubasher: The Central Bank of Egypt (CBE) has directed banks to exempt key food products from the 100% cash cover requirement for a year until 15 March 2021. The essential foods products to be exempted from the requirement include rice, …
Banking and Finance
The UAE’s holdings declined by $900m in January
17 March 10:43 AM UAE’s holdings of US treasury bonds down 2.3% MoM in January
Mubasher: The UAE has decreased its holdings of the US Treasury bonds by over 2.3% month-on-month (MoM) in January 2020, according to recent data by the US Department of the Treasury. The UAE’s holdings declined by $900 million in January to $39.8 …
Central Banks
Kuwait's holdings rose by 2.69% in January 2020 annually
17 March 10:30 AM Kuwait’s holdings of treasury bonds down 3% in January
Mubasher: Kuwait’s holdings of US Treasury bonds stood at $41.9 billion in January 2020, down by 3.23% on a monthly basis compared to KWD 43.3 billion in December 2019. T-bond holdings rose by 2.69% year-on-year last January, compared to its level …
Bonds
The CBE slashed the overnight deposit rate to 9.25%
17 March 10:16 AM CBE delivers surprise 3% interest rate cut
Cairo – Mubasher: The Central Bank of Egypt’s (CBE) Monetary Policy Committee (MPC) decided to cut interest rates by 300 basis points (bps) during an emergency meeting. The CBE slashed the overnight deposit rate, the overnight lending rate, and …
Banking and Finance
The total demand volume recorded KWD 2.72 billion
17 March 09:57 AM Kuwait C. bank sells KWD 200m bonds; oversubscribed 13.58 times
Mubasher: The Central Bank of Kuwait (CBK) issued on Tuesday bonds and related tawarruq worth KWD 200 million, with a 2.25% return rate, which is the lowest since May 2018. The three-month bond issuance matures on 16 June 2020, according to data …
Bonds
The three-month bonds have a return rate of 2.25%
16 March 03:19 PM Kuwait C. bank issues KWD 290m bonds, tawarruq
Mubasher: The Central Bank of Kuwait (CBK) has issued KWD 290 million ($943.39 million) worth of bonds and related tawarruq, Kuwait News Agency (KUNA) reported on Monday.   The issue carries a maturity period of three months with a 2.25% return …
Banking and Finance
The CBUAE decreased interest rates by 0.75%
16 March 03:18 PM CBUAE lowers interest rates by 75 bps
UAE – Mubasher: The Central Bank of the UAE (CBUAE) has on Monday decreased interest rates applied to its certificates of deposit (CD) by 75 basis points (bps). The CBUAE also slashed rates applicable to the Interim Margin Lending Facility (IMFL) …
Banking and Finance
SAMA slashed repo rates by 75 basis points (bps)
16 March 02:42 PM Saudi Arabia cuts interest rates by 75 bps
Riyadh – Mubasher: The Saudi Arabian Monetary Authority (SAMA) has decided to cut interest rates by 75 basis points (0.75%). The repo rate has been cut 1.75% to 1.00%, while the reverse repo was reduced from 1.25% to 0.50%, according to a …
Central Banks