Day: December 7, 2024

Egypt’s Finance Minister, Ahmed Kouchouk, outlined key government initiatives aimed at stimulating the Egyptian economy amid global and regional challenges. In his remarks, Kouchouk highlighted three main priorities: strengthening partnerships with the private sector, supporting the transition to clean energy, and launching an ambitious export activities program. He emphasized, “We,…

Egypt’s Minister of Housing, Utilities, and Urban Communities, Sherif El-Sherbiny, has called for accelerating the completion of tourism village projects and other developments along the North West Coast. During an inspection tour, El-Sherbiny emphasized the importance of adhering to approved master plans and issued building permits to ensure progress aligns…

Egypt’s Minister of Planning, Economic Development, and International Cooperation, Rania Al-Mashat, inaugurated a National Consultation Workshop on Green Hydrogen, focusing on attracting investment in the sector. The workshop, organised by the European Union and titled “Empowering Egypt: Fuelling the Future with Green Hydrogen Investments,” is part of the EU-supported MED…

The Central Bank of Egypt (CBE) has taken a significant step toward advancing digital financial services and fostering a cashless society by granting approvals to several banks in Egypt to activate instantaneous remittance receipt and real-time crediting of funds to customers’ bank accounts via the Instant Payment Network (IPN). This…

Abu Dhabi Commercial Bank (ADCB) Egypt has reaffirmed its dedication to sustainability within the banking sector by prioritizing projects that promote environmental and social responsibility. As of June 2024, the bank’s sustainable financing portfolio reached EGP 4bn, reflecting its commitment to sustainable development. ADCB has set an ambitious goal to…

The World Union of Arab Bankers (WUAB) has recognized Banque du Caire as the “Best Bank in Egypt for Financing Small and Medium Enterprises (SMEs) and Supporting Financial Inclusion for 2024.” The award was presented during a prestigious ceremony attended by banking leaders, regional institutions, and international figures, celebrating excellence…

Financial institutions participating in Egypt’s low-income mortgage finance initiative provided a total of EGP 78.66bn in funding to over 606,839 beneficiaries in November 2024. A report from the Social Housing Fund and Mortgage Finance Fund revealed that 22 banks contributed EGP 76.151bn, benefiting approximately 587,048 clients, accounting for 96.6% of…

Banque Misr has conducted Egypt’s first public digital auction to sell its real estate assets, marking a milestone in the adoption of innovative technologies in the banking sector. The auction, held in partnership with the Belmazad.com platform, represents a new era of transparent, efficient, and fair bidding, aligning with the…