10:21 am Saturday 25 April 2020 – I wrote – Manal Al-Masry: The three public banks, Al-Ahly, Egypt, and Cairo, decided to cut interest on regular savings accounts by up to 2%, after last month’s central bank decision to cut interest. The central bank had cut interest 3%, in an exceptional meeting of monetary policy … Read more
05:49 PM Monday 23 March 2020 – Cairo – Agencies: Six bankers told Reuters on Monday that the Central Bank of Egypt instructed banks to cut interest on dollar deposits to 1% above the London inter-bank interest rate (LIBOR), a maximum that will be spent every three months, instead of 1.5% above (LIBOR). “The aim … Read more
12:21 PM Monday 23 March 2020 – I wrote – Manal Al-Masry: The assets and liabilities committee of the National Bank of Egypt decided to reduce the interest rate by 2% on savings account slides, starting from next month, according to an official at the bank to Masrawy. The National Bank’s decision comes in conjunction … Read more
After bond yields fell and stocks fell due to the Federal Reserve’s sudden decision to cut interest rates, the price of gold domestically and locally witnessed a significant rise, with the yellow metal registering its highest levels in the month of March, an ounce of gold recording an increase close to $ 50 achieved 1645 … Read more
– Fed The US Federal Reserve believes that the monetary policy stance is “appropriate for a while”. – (Photo: AP) – – – – Washington The US Federal Reserve wants to hold on to its interest rate pause for the time being despite the virus crisis in China. The monetary policy stance is likely to … Read more
11:41 am Friday, February 14, 2020 – I wrote – Manal Al-Masry: The monetary policy committee of the Central Bank will meet next Thursday, February 20, to discuss the fate of reducing interest on deposits and lending, after it decided to install them last month as its first meeting in the new year. 3 banks, … Read more
4:58 PM Tuesday 04 February 2020 – I wrote – Manal Al-Masry: Today, Tuesday, the National Bank of Egypt decided to reduce interest rates by 1% for loans and personal murabaha for all segments of customers, whether employees or free professions. In a letter to the branches, Masrawy obtained a copy of it, the bank … Read more
11:08 am Thursday 09 January 2020 – I wrote – Manal Al-Masry: Bank of Egypt and Al-Ahly Bank of Egypt reduced interest rates on 3-year savings certificates by 1%, as of Thursday. In the National Bank, the interest on the 3-year platinum certificate decreased to 12% instead of 13% for the certificate with a monthly … Read more