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Banking

Egyptian banks to see more pressure from pandemic effects: Fitch Ratings

Fitch also expects the banking sector’s ratio of stage three loans to rise to 4 percent by the end of the year, compared to 3.4 percent in the Q3 of 2020

Egypt’s banking sector sees LE56.14B increase in foreign assets: CBE

Volume of foreign assets at the central bank declined to LE 619.18 billion in February, compared to LE 617.57 billion in January

World Bank amends Egypt’s GDP outlook, expects GDP to drop to 2.3%

The WB states that the expected decline is due to the ongoing effects of the pandemic, the renewed surge in COVID-19 cases and slow vaccine roll out

Investment fund companies can now finance buying of securities on margin: FRA

The FRA’s records show that there are 64 companies with a license to manage investment funds

FRA and finance companies discuss further developing financing activities

The Financial Regulatory Authority (FRA) and various finance companies’ representatives sat down recently to discuss proposals for developing a range of financial activities