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01 April 05:56 PM

Banking

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 …
Banking and Finance
The economic stimulus package aims to mitigate the impacts of the coronavirus epidemic
16 March 11:36 AM Abu Dhabi introduces 16 economic initiatives amid COVID-19 outbreak
UAE – Mubasher: The government of  Abu Dhabi has launched 16 initiatives under the emirate’s economic stimulus package, aiming to protect the economy from the repercussions of the coronavirus (COVID-19) epidemic, as directed by Crown Prince of Abu …
Macroeconomics
The programme aims to mitigate the impacts of the COVID-19 outbreak
15 March 01:57 PM SAMA supports SMEs with SAR 50bn against COVID-19
Riyadh – Mubasher: The Saudi Arabian Monetary Authority (SAMA) has introduced the “Private Sector Financing Support Program” with a total value of about SAR 50 billion. The programme aims at supporting the private sector to promote economic growth …
Global Economy
The USD fell by EGP 0.04 to EGP 15.64 for buying at EG Bank
9 March 01:35 PM USD rises against EGP at local banks on Monday
Cairo – Mubasher: The Egyptian pound exchange rate went down against the US dollar at local banks on Monday amid rising concerns over the spread of the new coronavirus (COIVD-19). The USD grew by EGP 0.05 to EGP 15.64 for buying and EGP 15.74 for …
Currencies
The fund is currently at the cabinet’s disposal
8 March 03:12 PM Kuwait C. bank sets up KWD 10m fund to combat coronavirus
Mubasher: The Central Bank of Kuwait (CBK) has established a KWD 10 million ($32.8 million) fund financed by Kuwaiti banks to promote the government’s efforts against the spread of the China coronavirus (COVID-19).    The initiative is part of the …
Central Banks
The greenback went down to EGP 15.57 for buying at SAIB
5 March 04:43 PM EGP returns to upward trend against USD on Thursday
Cairo – Mubasher: The US dollar exchange rate returned to its downward trend against the Egyptian pound at the end of Thursday’s transactions at local banks.  The USD declined by EGP 0.04 to EGP 15.59 for buying and EGP 15.69 for selling at Al …
Currencies
The USD dropped to EGP 15.65 for buying at ADIB
17 February 02:43 PM USD falls against EGP at local banks on Monday
Cairo – Mubasher: The US dollar exchange rate declined against the Egyptian pound at 12 local banks on Monday. The USD dropped to EGP 15.65 for buying and EGP 15.75 for selling at Abu Dhabi Islamic Bank (ADIB) and EGP 15.63 for buying and EGP …
Banking and Finance
Egypt’s gold reserves increased to $3.424 billion
9 February 02:57 PM Egypt’s gold reserves up $123m in January amid coronavirus worries
Cairo – Mubasher: Gold reserves in Egypt rose in January for the second month in a row as concerns about the spreading coronavirus fuelled safe-haven demand. Egypt’s gold reserves increased by $123 million to $3.424 billion in January from $3.301 …
Macroeconomics
Finastra's solutions cover 90% of banks’ needs
20 January 11:19 AM Interview: We look to repeat Finastra Egypt Digital Trade Forum – Serge Tohme
Mubasher: Finastra was founded in 2017 from the merger of two fintech giants, D+H, a leading financial technology provider and Misys, which provides software solutions focused on retail and corporate banking services. Serge Tohme, Managing …
Global Economy
The EGP exchange rate climbed to EGP 15.86 for buying
14 January 11:39 AM Egyptian banks receive $1.7bn foreign cash inflows in 4 days
Cairo – Mubasher: foreign cash inflows into banks operating in Egypt reached $1.7 billion in just four days ending on Monday, 13 January, according to a statement by the Central Bank of Egypt (CBE). Such inflows have helped push the Egyptian pound …
Central Banks
Credit Agricole is still developing SMEs portfolio and getting some resources
18 December 2019 02:09 PM Antoine Paliard talks fintech innovation, startup contests – Interview
By: Ingy ElSafy & Moslem Ali Cairo – Mubasher: Credit Agricole has chosen Infini Systems, an India-based startup, as the winner of the Fintech Hackathon 2019 during the RiseUp Summit, held in Cairo from 5 to 7 December. A total of 30 teams …
Companies Investments
Mohamed ElKasstawi as a speaker during RiseUp Summit 2019
12 December 2019 01:31 PM ElKasstawi: Stock markets, gov’t can boost performance via digital money – Interview
By: Ingy ElSafy & Moslem Ali Cairo – Mubasher: Blockchain is increasingly carving out the space within the investment and banking sectors, with cryptocurrencies, tokens, and fiat expected to reshape the future of finance as many countries …
Event
Tribal Credit recently closed a $5.5 million Seed round
12 December 2019 00:04 PM How startups benefit from blockchain at Tribal Credit – Interview with Mohamed ElKasstawi
By: Ingy ElSafy & Moslem Ali Cairo – Mubasher: Startups nowadays should look for new ways to boost their business, and one of these ways is using blockchain technologies and digital money. The US-based Tribal Credit, headquartered in Silicon …
Companies Investments
Exchange companies registered profits of KWD 13.77 million by September
12 November 2019 00:43 PM Kuwaiti exchange companies’ profits down 4% in 9M
Mubasher: Foreign exchange companies in Kuwait saw a 4% decrease in net profits during the first nine months of the year, according to a statement by the Central Bank of Kuwait (CBK). Exchange companies registered profits of KWD 13.77 million …
Sector Reports
Hatem Sleiman, Regional Vice President - Middle East, Pakistan & Afghanistan, Western Union
31 October 2019 11:53 AM Sleiman in Interview – Western Union starting to leverage platform in new ways
Mubasher: Western Union, the US worldwide financial services and communications company, has enhanced the UAE with the latest generation of omni-channel platform in a way of confirming the deep commitment to keeping the Middle East at the …
Banking and Finance
Algorand’s ecosystem is now open to Islamic institutions using the platform
21 October 2019 04:10 PM Algorand’s blockchain platform certified for sharia financing
Mubasher: The Algorand Foundation announced on Monday the certification of its blockchain platform in compliance with sharia financing, according to the organisation’s press release. Algorand enlisted Bahrain’s Shariyah Review Bureau (SRB), …
Corporate Actions
The USD retreated to USD 16.18 for buying at AAIB
16 October 2019 04:46 PM USD edges down against EGP at banks on Wednesday
Cairo – Mubasher: The US exchange rate slightly fall against the Egyptian pound on Wednesday at several local banks. The USD went down by EGP 0.01 to EGP 16.18 for buying and EGP 16.28 for selling at the National Bank of Egypt (NBE) and Banque …
Currencies
The USD dropped to EGP 16.24 for buying ADIB
15 October 2019 02:12 PM USD falls against EGP at banks on Tuesday
Cairo – Mubasher: The US dollar exchange rate has continued to slide against the Egyptian pound on Tuesday at several local banks.  The USD declined by EGP 0.03 to EGP 16.19 for buying and EGP 16.29 for selling at the National Bank of Egypt (NBE) …
Banking and Finance
The USD rate increased EGP 16.25 for buying at the United Bank
24 September 2019 04:54 PM EGP drops against USD on Tuesday at local banks
By: Islam Fadl Cairo – Mubasher: The US dollar exchange rate has risen against the Egyptian pound at some local banks on Tuesday. The USD rate grew by EGP 0.15 to EGP 16.39 for buying and EGP 16.49 for selling at the National Bank of Greece – …
Banking and Finance
The bank plans to launch “Meeza” cards soon
18 September 2019 03:48 PM EALB develops its infrastructure with EGP 1.4bn
By: Islam Fadl Cairo – Mubasher: Egyptian Arab Land Bank (EALB) works on developing its entire infrastructure in the current period, the bank’s chairman Amr Kamal said. The lender is injecting more than EGP 1.4 billion for the development of its …
Banking and Finance
Bank Audi is listed on the Beirut Stock Exchange
22 August 2019 02:53 PM GGF invests $15m on EE and RE projects in Bank Audi
Mubasher: In line with its efforts to strengthen the lending portfolio in the areas of energy efficiency (EE) and renewable energy (RE), Green for Growth Fund (GGF) has recently invested $15 million in Lebanon’s biggest green lender, Bank Audi. …
Banking and Finance
A group of factors pushed up the bank’s profit
30 July 2019 04:43 PM Kuwait C. Bank’s profit soars in FY18/19
Mubasher: The Central Bank of Kuwait’s (CBK) profit jumped 88.22% year-on-year to KWD 212.13 million ($697.57 million) during the fiscal year 2018/2019, according to a statement released on Tuesday. A group of factors pushed up the bank’s profit, …
Macroeconomics
The USD has settled at EGP 16.56 for buying at AAIB
24 July 2019 10:37 AM USD stabilises against EGP early Wednesday
Cairo – Mubasher: The US dollar exchange rate against the Egyptian pound has settled earlier on Wednesday at some local banks.   The USD has stabilised at EGP 16.56 for buying and EGP 16.66 for selling at National Bank of Egypt (NBE), Banque Misr, …
Currencies
The USD fell to EGP 16.58 for buying at ADIB
14 July 2019 04:13 PM USD falls against EGP on Sunday
By: Islam Fadl Cairo – Mubasher: The US dollar exchange rate declined against the Egyptian pound during late trades on Sunday at some local banks.   The USD dropped by EGP 0.01 to EGP 16.56 for buying and EGP 16.66 for selling at Banque Misr, …
Banking and Finance
The USD has stabilised at EGP 16.55 for buying at CIB
11 July 2019 10:54 AM USD stabilises against EGP early Thursday
Cairo – Mubasher: The US dollar exchange rate against the Egyptian pound has settled earlier on Thursday at some local banks.      The USD has remained unchanged at EGP 16.57 for buying and EGP 16.67 for selling at National Bank of Egypt (NBE), …
Currencies