Before analysing Egypt’s economic profile in the first quarter of 2011, I want to take us back to the fourth quarter of 2010, because it is important to characterise the conditions of the Egyptian economy at the outset of the revolution. Egypt entered the revolution on a comfortable cushion, a by-product of banking sector and monetary policy...
The increasing use of ICT by banks has brought greater efficiencies and heightened access to the market. All of Egypt’s major players have invested in online banking functionality, and firm resolutions to expand upon this technological base to offer customers new and more convenient ways to bank has become a staple of annual reports across the...
The political transformation of Egypt that began in early 2011 has presented the banking sector with fresh challenges at a time when it was gaining ground on those already pushed forth by the global economic crisis. Nevertheless, financial results for 2011 reveal that the nation’s lenders put in a robust performance that year, and entered 2012 well...
When the Central Bank of Egypt (CBE) announced in March 2012 that it would lower the reserve requirement for local currency deposits to 12% from 14%, the market showed its approval instantly. The following day financial stocks on the Egyptian Exchange (EGX) led a 1.07% rise in the benchmark EGX30 index, on the prospect of fresh capital being made...
As well as its general regulatory functions, the Central Bank of Egypt (CBE) is entrusted with implementing the nation’s monetary policy, a role that has most recently been defined by the Banking Law of 2003.
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