In November 2016 the executive board of the IMF approved a three-year, $12bn loan under an extended fund facility (EFF) to assist with Egypt’s economic reform strategy. The liberalisation of the exchange rate, elimination of the parallel market and the stability of the Egyptian pound were crucial goals of the EFF programme. Moreover, several...
Taken together, the Central Bank of Egypt and the Banking Law No. 88 of 2003 act as prudent enablers for the domestic banking industry. However, much of the nation’s increasingly complex financial arena is governed by other bodies and regulations. Many of the non-core activities of Egypt’s banks fall into what is collectively known as non-...
How are borrowing costs affecting the demand of domestic players that are looking to secure loans in the local market?
With the largest population in the Middle East and a relatively established insurance sector, Egypt has long been a promising market for insurers. Domestically licensed companies have shown strong growth in recent years, driven by public expenditure on capital projects and increasing private sector activity. However, the sector’s impact on the...
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