May 10, 2025 – Al Khaber for Accounting And Auditing Services

2.3 million microinsurance policies cover over 10 million Egyptians: FRA deputy head

May 10, 2025

Islam Azzam, Deputy Head of the Financial Regulatory Authority (FRA), announced that Egypt’s microinsurance sector achieved notable growth during the 2023/2024 fiscal year. A total of 15 companies—six focused on property insurance and nine on life insurance—issued approximately 2.3 million microinsurance policies, extending coverage to 10.5 million citizens. This marks…

EGP 920m invested in 31,000 youth projects in Damietta over 9 months: MSMEDA CEO

May 10, 2025

Bassel Rahmy, CEO of the Micro, Small and Medium Enterprise Development Agency (MSMEDA), announced that nearly EGP 920m has been invested in youth-led projects across Damietta from July 2014 to March 2025. The funding supported the establishment and growth of approximately 31,000 micro, small, and medium enterprises, creating around 70,000…

1.5 billion e-documents uploaded to Egypt’s e-invoicing system: ETA chief

May 10, 2025

Rasha Abdel Aal, Head of the Egyptian Tax Authority (ETA), announced that the national e-invoicing system has recorded significant growth, with approximately 1.5 billion electronic documents uploaded to date. She emphasized that enrolling in the e-invoice system is now a prerequisite for businesses seeking to benefit from the simplified tax…

Egypt, Switzerland hold inaugural Joint Economic Committee in Bern

May 10, 2025

Egypt and Switzerland convened the first meeting of their Joint Economic Committee in the Swiss capital, Bern, chaired at a technical level by Egypt’s Ministry of Planning, Economic Development and International Cooperation. The meeting aimed to advance economic, trade, and investment relations between the two nations. The discussions followed the…

AAIB, Al Ahly Pharos to manage EGP 20bn securitization bond programme for Tameer Misr

May 10, 2025

The Arab African International Bank (AAIB) and Al Ahly Pharos have been appointed as financial advisors and lead arrangers for a landmark EGP 20bn securitization bond programme for Tameer Misr, to be implemented over the next five years. This structured programme will consist of multiple issuances designed to provide liquidity…

Suez Canal Bank completes EGP 5.8bn in Sharia-compliant sukuk issuances

May 10, 2025

The Suez Canal Bank has successfully completed two sukuk issuances totaling EGP 5.8bn, both compliant with Islamic Sharia principles. The bank acted as the coverage guarantor and payment agent in both transactions, reinforcing its growing role in the Islamic finance market. These issuances align with the bank’s strategic objective to…

Domestic liquidity in Egypt’s banking sector rises to EGP 12.566trn in March 2025

May 10, 2025

Domestic liquidity in Egypt’s banking sector climbed to EGP 12.566trn in March 2025, up from EGP 11.636trn in December 2024—an increase of EGP 930.4bn, according to the Central Bank of Egypt (CBE). The Central Bank’s latest report highlights a notable rise in the money supply, which reached EGP 3.209trn in…

Gold surge adds nearly $3bn to Egypt’s international reserves in early 2025

May 10, 2025

The value of gold in Egypt’s international reserves rose sharply by approximately $2.985bn during the first four months of 2025, reaching $13.629bn in April—up from $10.644bn in December 2024. This surge played a critical role in supporting the Central Bank’s net international reserves, effectively offsetting a $2.112bn decline in foreign…

US, China commence sensitive trade negotiations in Geneva

May 10, 2025

Representatives from the United States and China began sensitive negotiations in the Swiss city of Geneva on Saturday, discussions that could influence the future of a global economy markedly affected by the tariff conflict initiated by US President Donald Trump. US Treasury Secretary Scott Bessent met with Chinese Vice Premier…

Annual urban inflation in Egypt rises to 13.9% in April

May 10, 2025

Egypt’s annual urban inflation rate rose to 13.9% in April 2025, compared to 13.6% in March, according to the Central Agency for Public Mobilization and Statistics (CAPMAS). However, monthly inflation showed signs of slowing, registering a 1.3% increase in April versus 1.6% the previous month. In a statement issued Saturday,…

Day: May 10, 2025