:quality(75)/cloudfront-us-east-1.images.arcpublishing.com/elcomercio/B32YDFTNVJEL3BVJLFUWSKX2BQ.jpg "interest rate caps | Asbanc maintains that there is room to lower the interest rate without caps | YOUR MONEY")
Congress approved -in the morning- the bill that sets interest rate caps on loans provided by financial institutions, now if there is no government observation, the determination will pass to the Central Reserve Bank (BCR) of the maximum rates. Martín Naranjo, president of the Association of Banks (Asbanc), indicated that this type of measure requires … Read more
Today Congress, in its last session of the year, will resume the debate on the bill that would impose caps on interest rates in financial institutions. Given this, the head of the Ministry of Economy and Finance (MEF), Waldo Mendoza, spoke on Twitter assuring that this measure will boost informal loans. “If the law to … Read more
1:34 PM Friday 25 December 2020 – I wrote – Manal Al-Masry: Yesterday, Thursday, the Assets and Liabilities Committee of the National Bank of Egypt and Egypt decided to reduce the annual return by 1% on their high-yield savings certificates with a maturity of (three years), according to statements from officials of the two banks … Read more
Hisham Okasha, Chairman of the Board of Directors of the National Bank of Egypt, said that the Assets and Liabilities Committee of the National Bank of Egypt decided today to reduce the annual return on its 3-year platinum certificate by 1%, starting with the issuance that takes place after the end of work today, Thursday, … Read more
:quality(75)/cloudfront-us-east-1.images.arcpublishing.com/elcomercio/LTWA7CF2BBDBPCKYSBXIK7GQSA.jpg "Financial entities warn that the interest rate cap puts 1.3 million mypes access to credit at risk | ECONOMY")
Congress has put on the agenda the bill that seeks to impose interest rate caps, in an expanded agenda to end its term, until December 29. “We express our total rejection and concern about the proposed measure, which does not take into account the difficult health, economic and social situation of Peru, in the framework … Read more
Until recently, however, it seemed that China was recovering the fastest from the economic decline caused by the pandemic. International Monetary Fund predicts that the local economy will grow by 1.9 percent in 2020. This is at least for the last forty years, but it is a significantly better result compared to other world powers. … Read more
During the last months, Elba saw her expenses increase by staying at home with her two children all day; to this he added the temporary loss of 40 percent of his salary for the pandemic, forcing her to stop paying a credit via payroll that he kept in HSBC for an amount still of 25 … Read more
11:28 PM Tuesday 01 December 2020 – I wrote – Manal Al-Masry: The National Investment Bank reduced the interest on investment certificates that are offered through the National Bank of Egypt between 0.5% and 1% depending on the type of certificate, starting tomorrow, Wednesday. The National Investment Bank uniquely sells investment certificates of different terms … Read more
Dr. Walid Gaballah, an economist and a member of the Egyptian Association for Economics, Legislation and Statistics, described the Central Bank’s decision to cut interest rates by 0.5% as a “courageous decision” that would contribute to countering inflation rates and encourage investment and job opportunities. He added, in exclusive statements to “The Seventh Day,” that … Read more
4:02 PM Wednesday 11 November 2020 – I wrote – Manal Al-Masry: 3 bankers suggested that the central bank’s monetary policy committee would fix interest rates on deposit and lending on Thursday in its penultimate meeting this year, referring to several internal and external factors. The Central Bank’s Monetary Policy Committee is discussing the fate … Read more