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17 banks involved in financing limited and middle-income housing

“There are 17 banks and three companies participating in the CBE’s initiative to finance [housing for] limited and medium-income [people]. There are negotiations to enter two new banks and another company within the initiative in the coming period,” said Mai Abdel Hamid, head of the MFF. She explained that the number of beneficiaries of this …

Daily News Egypt

Small construction companies demand banks to support them

The small and medium-sized companies working in the construction sector demanded that the financing obstacles faced by these companies, especially the serious companies qualified to participate in the development plan adopted by the state, be canceled. According to Daker Abd Allah, a member of the board of directors of the Egyptian Federation For Construction & …

Hossam Mounir

CBE raises banks’ reserve requirement

The Central Bank of Egypt (CBE) decided to raise the reserve requirement ratio of banks from 10% to 14%. The bank announced on Tuesday that this resolution will be applied starting 10 October. The CBE had maintained the reserve requirement ratio at 14% since 2001 until 2012, which was reduced gradually after the 25 January …

Mohamed Samir