Month: August 2026

Egypt’s Financial Regulatory Authority (FRA), chaired by Islam Azzam, has approved the launch of live testing for the first two projects under its fintech regulatory sandbox, FRA-Sandbox, marking a significant milestone in the initiative’s first year of operation. The two projects have been granted approval to conduct live testing for…

MIDBANK has launched the “MID Plus” savings certificate, offering individuals a secure investment option with a variable annual return of up to 19.65% paid monthly or up to 19.5% paid daily, with a guaranteed minimum return of 17%. The certificate has a three-year tenor. The launch comes as part of…

The Central Bank of Egypt (CBE) announced that domestic liquidity in Egypt’s banking sector stood at EGP 15.261trn in June 2026, down from EGP 15.330trn in May. Data released by the CBE showed that the money supply declined to EGP 4.492trn in June, compared with EGP 4.502trn a month earlier.…

Investment and Foreign Trade Minister Mohamed Farid Saleh stressed ongoing development in Egyptian-Russian ties, aiming to deepen economic partnership, boost Egyptian exports to Russia, and enhance joint investments. This came during his meeting with Russian Deputy Minister of Economic Development Vladimir Ilyichev on the sidelines of the 16th BRICS Trade…

The US dollar edged higher on Friday, against both the Japanese yen and the euro, extending gains from the previous session as growing doubts over reaching a peace deal with Iran bolstered the greenback’s safe-haven appeal. The dollar also gained additional support from rising US Treasury yields following a Financial…

The Central Bank of Egypt (CBE) announced that its net international foreign exchange reserves rose to $56.30 billion at the end of July. This increase reflects the ongoing improvement in the country’s foreign liquidity position and strengthens the Egyptian economy’s ability to fulfill its international obligations. Official data released by…

Prime Minister Mostafa Madbouly met on Wednesday with Mostafa Ismail, Chief Executive Officer of the Micro, Small and Medium Enterprise Development Agency (MSMEDA), to review the agency’s strategic vision and action plan for the coming period. Madbouly stressed the pivotal role MSMEDA plays in advancing the state’s objectives of supporting…

The Central Bank of Egypt (CBE) has launched the preparatory process for developing a Sustainable Finance Taxonomy, forming an inter-ministerial technical working group to support the national drive toward sustainable finance and align Egypt’s financial sector with international best practices. The taxonomy aims to establish a unified framework for classifying…

Egypt’s Minister of Industry, Khaled Hashem, has discussed executive steps to increase local content in the automotive industry and manufacture vehicle bodies entirely in Egypt during an expanded meeting with the Presidential Advisory Council of Egyptian Scientists and representatives of automotive manufacturers and component suppliers. The meeting reviewed an automotive…