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08 July 01:40 AM

Central Banks

The Central Bank of Kuwait
7 July 05:42 PM Kuwaiti reserves up 14.4% in May
Mubasher: Kuwait’s foreign reserves increased by 14.41% during May, according to recent data by the Central Bank of Kuwait (CBK). Reserve assets amounted to KWD 13.67 billion ($44.52 billion) by the end of May 2020, compared with KWD 11.95 billion …
Macroeconomics
Egypt secured a $2.7 billion loan from the IMF
7 July 01:38 PM Egypt’s net foreign reserves rise $2.2bn in June
Cairo – Mubasher: Egypt’s net international reserves increased by $2.2 billion to $38.201 billion at the end of June, data by the Central Bank of Egypt (CBE) showed on Tuesday. The country’s foreign reserves reached $36.003 billion in May and …
Banking and Finance
SAMA’s revenues declined by 8.14% - (Photo Archive)
6 July 04:02 PM SAMA records SAR 1.98bn surplus in FY18/19
Mubasher: The financial statements of the Saudi Arabian Monetary Authority (SAMA) showed a surplus for the fiscal year (FY) ending on 30 June 2019. The retained surplus amounted to SAR 1.98 billion, compared with SAR 2.78 billion in FY17/18. …
Central Banks
The ODF will replace the issuance of a one-week Certificate of Deposits
6 July 11:04 AM CBUAE sets new overnight deposit facility
UAE - Mubasher: The Central Bank of the UAE (CBUAE) has launched a new deposit facility knowns as Overnight Deposit Facility (ODF), according to a press release on Monday. The facility aims to encourage the conventional banks operating in the UAE …
Central Banks
The issuance will be used to finance the country’s budget deficit
6 July 10:50 AM CBE offers EGP 21bn T-bills, bonds on Monday
Cairo – Mubasher: The Central Bank of Egypt (CBE) will offer treasury bills and bonds worth EGP 21 billion on Monday on behalf of the Ministry of Finance. The first tranche of the T-bills is valued at EGP 8 billion and will be offered through …
Macroeconomics
The CBE launched an initiative to support the industrial sector in December 2019
5 July 02:10 PM CBE offers EGP 69bn under industry support initiative
Cairo – Mubasher: The Central Bank of Egypt (CBE) has provided a total of EGP 69 billion in funding to 4,291 industrial, agricultural, and contracting businesses under its industry support initiative, an official source told the Middle East News …
Central Banks
The issuance will be used to finance the country’s budget deficit
5 July 10:48 AM CBE offers EGP 23.5bn T-bills, bonds on Sunday
Cairo – Mubasher: The Central Bank of Egypt (CBE) will offer treasury bills and bonds worth EGP 23.5 billion on Sunday on behalf of the Ministry of Finance. The first tranche of the T-bills amounts to EGP 9 billion and will be offered through …
Banking and Finance
Saudi bank investments in gov't bonds grew by 1.7% monthly
1 July 01:34 PM Saudi banks raise investments in gov’t bonds 20% in May
By: El-Sayed Gamal  Riyadh – Mubasher: Banks operating in Saudi Arabia have increased their investments in government-issued bonds by 20.2% year-on-year (YoY) in May 2020, equivalent to SAR 70.65 billion. Total bank investments in Saudi bonds came …
Central Banks
The country’s money supply increased to EGP 1.096 trillion
1 July 12:51 PM Egypt’s local liquidity rises to EGP 4.45trn in May
Cairo – Mubasher: Egypt’s domestic liquidity increased by 2.26% or EGP 98.36 billion to a record high of EGP 4.45 trillion in May from EGP 4.35 trillion in April. Year-on-year, local liquidity grew by 17.23% from EGP 3.79 trillion in May 2019, …
Macroeconomics
The initiative allows tourism companies to obtain soft loans
30 June 05:44 PM CBE extends tourism funding repayment period
Cairo – Mubasher: The Central Bank of Egypt (CBE) has made amendments to its recently-launched tourism support initiative with a guarantee worth EGP 3 billion. The initiative allows tourism companies to obtain soft loans to cover wages of their …
Central Banks
Saudi government current account slid by 62% YoY in May
29 June 01:25 PM Saudi gov’t reserve declines 12% in May
Riyadh - Mubasher: Saudi Arabia’s government reserve shrank by SAR 57.3 billion ($15.3 billion) or 12% annually in May 2020. The reserve amounted to SAR 419.6 billion ($111.9 billion) by the end of May, decreasing by SAR 50 billion on a monthly …
Macroeconomics
Remittances rose to SAR 55.48 billion ($14.79 billion)
29 June 01:07 PM Expat remittances in Saudi Arabia up 5% in 5M
Riyadh - Mubasher: Remittances by expatriates in Saudi Arabi posted a 5.37% year-on-year (YoY) growth during the first five months of 2020, increasing by SAR 2.83 billion ($754 million). Remittances came at SAR 55.48 billion ($14.79 billion) in …
Sector Reports
Foreign reserves were marginally up by 0.15% monthly in May 2020
29 June 11:39 AM Saudi foreign reserves down 13% in May
Riyadh - Mubasher: The Saudi foreign reserves assets reached SAR 1.685 trillion ($449.31 billion) in May 2020, down by 13.1% from SAR 1.939 trillion ($517.09 billion) in the corresponding month in 2019. On a monthly basis, foreign reserves were …
Sector Reports
The issuance will be used to finance the country’s budget deficit
29 June 11:02 AM CBE offers EGP 6.75bn T-bonds on Monday
Cairo – Mubasher: The Central Bank of Egypt (CBE) will offer treasury bonds (T-bonds) worth EGP 6.75 billion on Monday on behalf of the Ministry of Finance. The first tranche of the T-bonds will be offered through five-year notes valued at EGP 3.5 …
Macroeconomics
Banks whose fiscal year ends on 30 June will also be closed on Wednesday
29 June 10:46 AM CBE, EGX change planned holiday
Cairo – Mubasher: The Central Bank of Egypt (CBE) decided to change its planned holiday from Tuesday, 30 June, to Thursday, 2 July, in accordance with the cabinet’s decision to make Thursday a public holiday for the public and private sectors to …
Central Banks
Trading will be resumed on Thursday
28 June 04:56 PM EGX, CBE announce 30 June holiday
Cairo – Mubasher: The Egyptian Exchange (EGX) will be closed for Tuesday, 30 June, on the occasion of the 30 June Revolution. In addition, the bourse will also be shut down on Wednesday, 1 July, marking the beginning of a new fiscal year, …
Central Banks
The initiative is in line with the CBE’s EGP 100 billion industrial support initiative
28 June 02:02 PM CBE launches EGP 7bn funding guarantee initiative for large companies
Cairo – Mubasher: The Central Bank of Egypt (CBE) announced the launch of a new initiative pledging EGP 7 billion in favour of Credit Guarantee Company to cover the risks related to major corporate funding offered by banks. This is in line with …
Macroeconomics
State-run banks are the top purchasers of the government debt instruments
28 June 10:34 AM CBE offers EGP 13.5bn T-bills on Sunday
Cairo – Mubasher: The Central Bank of Egypt (CBE) will offer treasury bills (T-bills) worth EGP 13.5 billion on Sunday on behalf of the Ministry of Finance. The first tranche of the T-bills will be offered through 91-day notes valued at EGP 6.5 …
Central Banks
The CBUAE's certificates of deposits rose to AED 194.33bn
25 June 12:09 PM CBUAE draws AED 34.15bn excess liquidity in 5M
UAE - Mubasher: The Central Bank of the UAE (CBUAE) has withdrawn around AED 34.15 billion excess liquidity from the market during the first five months of 2020, according to the Emirates News Agency (WAM). The excess liquidity withdrawn from the …
Banking and Finance
State-run banks are the top purchasers of the government debt instruments
25 June 10:49 AM CBE offers EGP 15bn T-bills on Thursday
Cairo – Mubasher: The Central Bank of Egypt (CBE) will offer treasury bills (T-bills) worth EGP 15 billion on Thursday on behalf of the Ministry of Finance. The first tranche of the T-bills will be offered through 182-day notes valued at EGP 7.5 …
Banking and Finance
The period of notification about previous defaulters was cut to six months
24 June 11:17 AM CBE requires banks to notify customers when removed from blacklists
Cairo – Mubasher: The Central Bank of Egypt (CBE) has issued new instructions, requiring banks to notify their customers when procedures are taken to remove them from the blacklist. The instructions are aimed at accelerating the completion of …
Banking and Finance
The local currency depreciated by 3% against USD in the last period
23 June 05:47 PM CBE expected to keep interest rates unchanged on EGP depreciation
By: Heba El-Kordy Cairo – Mubasher: Analysts are expecting the Central Bank of Egypt’s (CBE) monetary policy committee (MPC) to keep interest rates unchanged in its next meeting on Thursday. The depreciation of the Egyptian pound by about 3% …
Macroeconomics
The decision is extended to 15 September
22 June 10:59 AM CBE extends exemption from local transfer fees
Cairo – Mubasher: The Central Bank of Egypt (CBE) decided to extend the exemption of EGP-denominated transfers from all fees and charges until 15 September. This decision is part of the government’s efforts to limit the use of cash as a …
Central Banks
State-run banks are the top purchasers of the government debt instruments
22 June 10:47 AM CBE offers EGP 7bn T-bonds on Monday
Cairo – Mubasher: The Central Bank of Egypt (CBE) will offer treasury bonds (T-bonds) worth EGP 7 billion on Monday on behalf of the Ministry of Finance. The first tranche of the T-bonds will be offered through three-year notes valued at EGP 3.75 …
Macroeconomics
The resident deposits increased by 2.7%
21 June 12:02 PM UAE bank deposits amount to AED 1.865trn in 3M
UAE – Mubasher: Bank deposits in the UAE rose by 2.1% or AED 37.1 billion to AED 1.865 trillion from March to May, compared to AED 1.828 trillion in February. The resident deposits increased by 2.7% or AED 43.1 billion to AED 1.662 trillion from …
Sector Reports