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Governorates in Upper Egypt came in the first position
03:59 PM Mashroak finances 154K projects with EGP 15.4bn
Cairo – Mubasher: The Egyptian National Programme for Community, Human, and Local Development (Mashroak) has financed about 4,000 projects with more than EGP 716 million in August, the Minister of Local Development, Mahmoud Shaarawy, said. These …
About 48.3 million shares were sold at SAR 30 riyals on Sunday.
03:12 PM Credit Agricole sells final stake in Banque Saudi Fransi for $386m
Riyadh – Mubasher: Credit Agricole sold on Sunday the final portion of its stake in Banque Saudi Fransi (BSF), bringing to an end the French lender’s decades long investment in one of the largest Saudi corporate banks, Bloomberg reported citing a …
The issuance will be used to finance the country’s budget deficit
10:50 AM CBE offers EGP 8bn T-bonds on Monday
Cairo – Mubasher: The Central Bank of Egypt (CBE) will offer treasury bonds (T-bonds) worth EGP 8 billion on Monday on behalf of the Ministry of Finance. The first tranche of the T-bonds is valued at EGP 4 billion and will be offered through …
The increased facilities will finance the company’s working capital when needed
27 September 11:56 AM NBE approves EGP 250m new credit facilities to Ibnsina Pharma
Cairo – Mubasher: The National Bank of Egypt (CBE) approved a EGP 250 million increase in the short-term credit facilities provided to Ibnsina Pharma. The increased facilities will finance the company’s working capital when needed, according to a …
The CBE cut key interest rates by 0.5%.
27 September 10:56 AM CBE announces new T-bills offering after rate cut
Cairo – Mubasher: The Central Bank of Egypt (CBE) will offer treasury bills (T-bills) worth EGP 18 billion on Sunday on behalf of the Ministry of Finance. The first tranche of the T-bills is offered through 91-day notes worth EGP 8 billion, while …
President Abdel Fattah El-Sisi
24 September 05:55 PM El-Sisi approves CBE, banking sector law
Cairo – Mubasher: The Egyptian President Abdel Fattah El-Sisi has approved the law no. 194 of 2020, which regulates the work of the banking sector and the Central Bank of Egypt (CBE), according to the Middle East News Agency (MENA). The new law …
The agreement was signed in Cairo on 5 February
24 September 01:52 PM El-Sisi approves railway upgrade cooperation deal with EIB
Cairo – Mubasher: The Egyptian President Abdel Fattah El-Sisi issued the presidential decree no. 144 of 2020, approving a cooperation agreement between the Egyptian National Railways (ENR) and the European Investment Bank (EIB), the Middle East …
Bo Islands project is located at the heart of Sidi Abdelrahman Bay
24 September 01:41 PM NBE approves EGP 300m bridge loan for Maxim Real Estate Investment
Cairo – Mubaser: The National Bank of Egypt (NBE) approved the provision of a bridge loan worth EGP 300 million to Maxim Real Estate Investment (MREI) to finance Bo Islands project on the North Coast. The syndicated loan has been arranged by a …
Minister of Finance, Mohamed Maait
24 September 11:59 AM Egypt’s government e-payments rise 223% YoY in July
Cairo – Mubasher: Egypt’s government e-payments increased by 223% year-on-year (YoY) at the end of last July, the Minister of Finance, Mohamed Maait, revealed. This reflects the country’s continuous efforts towards the transformation into a …
The issuance will be used to finance the country’s budget deficit
24 September 10:32 AM CBE offers EGP 19.5bn T-bills on Thursday
Cairo – Mubasher: The Central Bank of Egypt (CBE) will offer treasury bills (T-bills) worth EGP 19.5 billion on Thursday on behalf of the Ministry of Finance. The first tranche of the T-bills is offered through 182-day notes worth EGP 9 billion, …
Haitham Abdel Azeem, CEO of Ora Developers
23 September 03:37 PM Ora Developers in talks with banks over EGP 2bn loan
By: Abdullah Bedeir Cairo – Mubasher: Ora Developers is currently in negotiations with three to four banks over a EGP 2 billion loan, the CEO, Haitham Abdel Azeem, said. After the completion of negotiations, the company will inject EGP 1.5 billion …
The value of micro-finance reached EGP 17 billion in January
22 September 05:21 PM The United Bank allocates EGP 500m to micro-enterprises in Egypt
Cairo – Mubasher: The United Bank has allocated EGP 500 million to finance micro-enterprises either through specialised companies and non-governmental organisations (NGOs) or directly to individuals. The micro-enterprise finance sector has a great …
Total remittances reached $17 billion in seven months
22 September 03:36 PM Egyptian expats' remittances rise to $2.9bn in July – CBE
Cairo – Mubasher: Remittances from Egyptians living abroad rose for the second month in a row, growing by 9.5% year-on-year (YoY) in July, according to the Central Bank of Egypt (CBE). Egyptians’ remittances stood at $2.9 billion in July, compared …
The offer values AUB Egypt at EGP 29.78 per share
21 September 06:12 PM Egypt's FRA approves AUB Egypt acquisition offer
Cairo – Mubasher: The Egyptian Financial Regulatory Authority (FRA) approved the purchase offer submitted by Ahli United Bank – Bahrain (AUB Bahrain) and Misr Strategia Investment (MSI) to acquire Ahli United Bank - Egypt (AUB Egypt). AUB Bahrain …
The bank issues four categories of certificates
21 September 03:48 PM National Investment Bank issues new saving certificates with lower rates
Cairo – Mubasher: The National Investment Bank (NIB) decided to reduce the annual interest rates on its new certificates issued by the National Bank of Egypt (NBE) on its behalf. The bank issues four categories of certificates tailored to the …
The bank approved a one-for-10 bonus issuance for shareholders
21 September 01:23 PM EBE amends proposed dividends for FY19/20
Cairo – Mubasher: The board of directors of Export Development Bank of Egypt (EBE) decided to retain the EGP 136.4 million cash dividends proposed to be paid to shareholders for fiscal year 2019/2020. This move is aimed at supporting the capital …
NBE has sold EGP 280 billion worth of these certificates
21 September 12:49 PM NBE, Banque Misr halt issuance of 15% Ibn Misr certificates
Cairo – Mubasher: The National Bank of Egypt (NBE) decided to halt the issuance of the one-year “Ibn Misr” certificates which have a record return of 15%, the bank’s Vice Chairman, Yehia Aboul Fotouh, told Mubasher. The bank has sold EGP 280 …
The issuance will be used to finance the country’s budget deficit
21 September 10:40 AM CBE offers EGP 8.75bn T-bonds on Monday
Cairo – Mubasher: The Central Bank of Egypt (CBE) will offer treasury bonds (T-bonds) worth EGP 8.75 billion on Monday on behalf of the Ministry of Finance. The first tranche of the T-bonds is valued at EGP 1.25 billion and will be offered through …
SODIC sold 1,500 units in the Villette Project
20 September 05:13 PM SODIC's unit inks EGP 2.57bn facility deal with AAIB
Cairo - Mubasher: Six of October Development and Investment (SODIC) announced that its subsidiary SOREAL For Real Estate Investment signed a medium-term facility package worth EGP 2.57 billion with the Arab African International Bank (AAIB). The …
The seven-year loan will finance the purchase and installation of a new production line
20 September 10:42 AM Edita inks EGP 105m loan deal with Arab Bank
Cairo – Mubasher: Edita Food Industries signed a medium-term loan agreement worth EGP 105 million with the Arab Bank. The seven-year loan will finance the purchase and installation of a new production line, according to a statement to the Egyptian …
The issuance will be used to finance the country’s budget deficit
20 September 10:18 AM CBE offers EGP 19bn T-bills on Sunday
Cairo – Mubasher: The Central Bank of Egypt (CBE) will offer treasury bills (T-bills) worth EGP 19 billion on Sunday on behalf of the Ministry of Finance. The first tranche of the T-bills is offered through 91-day notes valued at EGP 8.5 billion, …
The Central Bank of Egypt (CBE)
17 September 04:03 PM Egypt’s banks log over EGP 50bn profits in 6M
Cairo – Mubasher: Net profits recorded by banks operating in Egypt amounted to EGP 50.049 billion in the first half (H1) of 2020, while net revenue hit EGP 136.89 billion, as shown by data from the Central Bank of Egypt (CBE). Revenues of banks’ …
Signing the agreement
16 September 05:14 PM NBK-Egypt launches Meeza card
Cairo – Mubasher: The National Bank of Kuwait – NBK - Egypt signed a cooperation protocol with the Egyptian Banks Company for Technological Advancement (EBC) on Wednesday to officially launch Meeza prepaid card. The protocol was signed by Amr …
The accelerator helps pre-seed and seed startups
15 September 03:38 PM Openner to provide funding for 50 Egyptian startups
Cairo – Mubasher: Openner, a US-based venture capital firm is now accepting applications from Egyptian startups, aiming to identify rising businesses with brilliant ideas to expand and scale them locally, regionally, and globally through a local …
The bank's assets reached around EGP 109.7bn
15 September 02:10 PM Faisal Islamic Bank records 9% higher business volume in August 2020
Cairo – Mubasher: Faisal Islamic Bank of Egypt's business volume grew by 9.3% year-on-year (YoY) to  EGP 112.75 billion by the end of August 2020, compared to around EGP 103.14 billion in the same period of 2019. The bank's assets reached around …