Financial Services

The liquidity scenario in Egypt has shifted significantly in recent years. In terms of local currency liquidity, levels have remained buoyant despite a challenging economic environment. Elsewhere in the MENA region, governments have had to resort to drawing heavily on banking sector deposits to address the fiscal shortfalls caused by low...

The published draft of the new banking law, the latest reform from the Central Bank of Egypt (CBE), was made public in July 2017, and its potential changes fast became a major talking point for the sector. Formulated after lengthy consultation with global experts – which included meetings with the IMF, the World Bank and the Bank of England –...

What have been the short-term consequences of the currency flotation for the banking sector?

In addition to having one of the biggest banking sectors in the North African region, Egypt’s is also one of the most profitable. In more recent times, lenders have made easy gains on high-yielding government debt following the 2011 revolution, while an improving macroeconomic environment and the flotation of the local currency lead to another...

OUTLINE: The Egyptian Exchange (EGX) is one of the oldest stock markets in the Middle East, dating back to 1883. It covers the main market, an over-the-counter market, and the Nile Stock Exchange (Nilex), a relatively new market board for small and medium-sized enterprises. As of January 31, 2018...

OUTLINE: The first Egyptian mutual fund was launched in 1994, and since that time the industry has evolved slowly. There are nearly 100 funds operating under the direction of the Financial Regulatory Authority (FRA). There are specialised funds in a number of asset classes, including 28 equity, 10...