22 Nov 2014

Central Banks Watch: Israel, Egypt, Hungary and Nigeria to Set Rates, BoJ to Release Minutes

In the week of Thanksgiving Day celebrations in Japan and the US and GDP data releases from a few G10 as well as emerging economies, the central banks in focus will be those of Israel, Egypt, Columbia, Hungary and Nigeria.


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16 Nov 2014

Ratings on Egypt affirmed at 'B-/B'; outlook stable

“The affirmation reflects our view that Egypt's political landscape has begun to stabilize following a fairly smooth electoral process and a subsequent improvement in the security situation, alongside the implementation of a series of economic reform measures. In addition, given Egypt's"...

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12 Nov 2014

Currency black market to disappear within a year: CBE governor

Egypt's central bank (CBE) plans to eliminate the currency black market in less than a year, Hisham Ramez, the bank's governor, said on Tuesday.

The Egyptian pound saw a widening gap between its exchange rates on the official market"......

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11 Nov 2014

Banking Technology Summit kicks off with banks focusing on consumer security

Innovation and consumer security are considered the top priorities of Egyptian banks in 2015, announced Abeer Khedr, Director of Information Security of The National Bank of Egypt (NBE), during the Banking Technology Summit taking place in Cairo on Monday.


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08 Nov 2014

Egypt: CBE - Foreign Currency Reserves Hit U.S. 16.909 Billion

The Central Bank of Egypt (CBE) said Thursday 06/11/2014 that the country's foreign currency reserves were up slightly by $37 million or 0.21% in October.

Forex reserves hit $16.909 billion at the end of October against $16.872 billion in September, the CBE said in a press statement.


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06 Nov 2014

Mastercard to Acquire TNS’ Payment Gateway Business

Transaction Network Services (TNS), a portfolio company of Siris Capital Group since February 2013, has entered into an agreement to sell its Payment Gateway Services business to MasterCard for an undisclosed sum.


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06 Nov 2014

EBRD opens first resident office in Egypt

The EBRD has opened its first resident office in Egypt on Tuesday. The site will serve as the base for the Bank’s operations in the country, in close cooperation with Headquarters, to further support the development of the private sector and contribute to the growth of Egypt’s"...

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03 Nov 2014

CPI Card Group Launches CPIMobile™ with Sequent

CPIMobile™ enables global banks to leverage Secure Element (SE) and Host Card Emulation (HCE) capabilities to participate in any wallet deployment or turn their own apps into wallets


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02 Nov 2014

AAIB expands ATM service in Egypt

The Arab African International Bank (AAIB) expanded their ATM network in Egypt last week allowing customers to easily withdraw money or use “Fawry” bill payment service, the bank announced.


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02 Nov 2014

Only 7% of Egyptians have bank accounts: PayFort

A recent report issued by PayFort, an institution specialising in online payment solutions, said that only 7% of Egyptians have bank accounts, and the number of credit cards in Egypt totals nearly 8m. More than 65% of those undertaking transactions utilise prepaid payment cards and billing"...

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