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Business
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Markets & Companies
10/16/2023 3:38:53 PM
Egypt’s state-owned Banque Misr has secured a $234 million loan from the International Financial Corporation (IFC), the financial arm of the World Bank, to offer financing to privately-owned micro, small, and medium-sized enterprises (MSMEs) in the country.
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Business
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Economy
10/9/2023 8:44:14 PM
Several local banks suspended on Monday hard currency cash withdrawals and purchases made outside Egypt using debit cards, as per instructions from the Central Bank of Egypt (CBE) to reduce pressure on foreign currency reserves, an informed source told Ahram Online.
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Business
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Economy
10/8/2023 8:39:57 PM
Some Egyptian banks have set new limits for using their cards abroad to curb abusive practices that drain the country’s foreign currency reserves.
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Business
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Markets & Companies
8/17/2023 7:23:23 PM
Misr Digital Innovation Company, a subsidiary of Egypt's Banque Misr, announced submitting the first application to obtain a licence to operate a digital bank in the country, according to a statement on Thursday.
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Business
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Economy
7/27/2023 6:09:00 PM
The state-owned National Bank of Egypt (NBE) and Banque Misr announced issuing new three-year US-dollar certificates of deposits (CDs) with seven percent and nine percent yields to be paid quarterly or annually in US dollars or Egyptian pounds.
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Business
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Economy
7/25/2023 7:26:32 PM
The state-owned National Bank of Egypt (NBE) and Banque Misr announced on Tuesday a bundle of new services and privileges for Egyptians working aboard.
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Business
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Economy
7/25/2023 2:20:39 PM
The state-owned National Bank of Egypt (NBE) and Banque Misr are each issuing two US dollar-denominated annual-yield certificates of deposit (CDs) with a maturity of three years, which will be available for purchase starting Wednesday.
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Business
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Economy
5/29/2023 3:28:48 PM
Banque Misr will receive a $260 million loan from the World Bank's (WB) financial arm, the International Finance Corporation (IFC) over five years to support micro, small, and medium-sized enterprises (MSMEs).
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Business
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Economy
5/17/2023 9:10:15 PM
Fitch Ratings downgraded on Wednesday four Egyptian banks' Long-Term Issuer Default Ratings (IDRs) to 'B' from 'B+' and Viability Ratings (VRs) to 'B' from 'B+', and maintained their outlooks as Negative.
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Business
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Economy
5/1/2023 6:00:55 PM
Standard & Poor (S&P) Global Ratings has revised its outlooks on the National Bank of Egypt (NBE), Banque Misr, and Commercial International Bank (CIB) to negative from stable.
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Business
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Economy
4/27/2023 5:27:59 PM
The European Bank for Reconstruction and Development (EBRD) has set 31 May as the approval date for a $100 million loan program to Banque Misr, under the Financial Intermediaries Framework ("FIF"), to finance micro, small, and medium enterprises (MSMEs).
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Business
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Economy
4/5/2023 2:10:37 PM
A group of Egyptian banks have issued high-yield certificates of deposit (CDs), following the lead of the National Bank of Egypt (NBE), Banque Misr, Commercial International Bank (CIB), and Qatar National Bank (QNB).
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Business
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Economy
4/5/2023 2:10:17 PM
Proceeds of the high-yield certificates of deposit (CDs) of the National Bank of Egypt (NBE) and Banque Misr have reached EGP 109 billion since their issuance on Sunday, read the statements of the two state-owned banks.
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Business
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Economy
4/4/2023 12:10:38 AM
Prices of gold in Egypt dropped by around 3.18 percent on Monday after new high-yield certificates of deposit (CDs) issued by the National Bank of Egypt (NBE) and Banque Misr collected EGP 67 billion ($2.16 billion) in proceeds on the first day of issuance.
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Business
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Economy
4/3/2023 1:08:00 PM
The National Bank of Egypt (NBE) and Banque Misr have collected EGP 67 billion ($2.16 billion) in proceeds from two new high-yield certificates of deposit (CDs) in the 24 hours following issuance, the two banks announced.
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Business
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Economy
4/2/2023 11:00:17 AM
The National Bank of Egypt (NBE) and Banque Misr have recently issued two new certificates of deposit (CDs) with fixed yields of 19% and a decreasing yield of 22%. In a joint statement, the central banks announced the issuance of a CD with a 19% annual yield over three years.
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Business
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Economy
3/9/2023 12:49:35 PM
The one-year certificates of deposit (CDs), with 18 percent annual yield the National Bank of Egypt (NBE) and Banque Misr issued in March 2022, will mature on 19 March, raising questions about the local market's reaction.
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Business
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Economy
2/3/2023 3:59:46 PM
Could Egypt lower its dependency in the short term on "hot money" as a source of securing liquidity in foreign exchange amid the government's plan to focus on attracting more direct investments in a longer term strategy for strengthening the economy? Ahram Online asked various analysts.
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Business
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Economy
1/30/2023 10:50:07 PM
Proceeds from the 25 percent and 22.5 percent saving certificates of deposit (CDs) offered by Banque Misr and the National Bank of Egypt (NBE) garnered EGP 460 billion in less than a month, said Chairman of the Federation of Egyptian Banks and Banque Misr Mohamed El-Etreby said.
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Business
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Economy
1/18/2023 1:39:36 PM
Egyptian banks’ regulatory capital ratios, especially in private banks, can withstand further Egyptian pound depreciation because of their healthy internal capital generation, Fitch Ratings said in a note on Tuesday.
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