Latest news with #NationalBankOfEgypt
Zawya
7 days ago
- Business
- Zawya
Egypt: FRA approves establishment of five new firms for investment fund management, SME financing
Egypt - The Committee for the Establishment and Licensing of Companies, operating under the supervision of the Financial Regulatory Authority (FRA), has approved the establishment of five new companies. These include Saqr Real Estate Investment Fund, Nawy Shares Real Estate Investment Fund, Saqr for Real Estate IPO Promotion and Fund Management, Nawy Shares for Real Estate IPO Promotion and Fund Management, and Qardy for Medium and Small Enterprise Financing. In addition, the committee granted approval for Ahly Capital for Microfinance ('Tamkeen') to expand its licensed activities to include micro leasing, and for Irada for Microfinance to add medium and small enterprise financing to its business scope. The committee also approved the regularisation of the status of the National Bank of Egypt (NBE) and QNB for registration in the FRA's official registry, allowing both banks to trade in government securities and instruments on the secondary market. Established under FRA Chairperson's Decision No. 3060 of 2023, the Committee for the Establishment and Licensing of Companies is tasked with approving the formation of companies operating within the non-banking financial services sector under FRA oversight. Its responsibilities include granting activity licences; reviewing and approving requests to add new activities, mechanisms, or amend company bylaws; and overseeing regulatory transitions for firms entering or exiting the securities and consumer finance markets. The committee is also responsible for endorsing employee reward and incentive schemes, issuing initial or final establishment approvals, and making determinations on suspending decisions taken by the general assemblies of regulated firms. Additionally, it handles requests related to the opening, relocation, or closure of branches, as well as requests for liquidation, temporary or voluntary suspension of activities, and the registration, renewal, or delisting of company founders' representatives in the non-banking financial sector.
Zawya
26-06-2025
- Business
- Zawya
Egypt: USD/EGP exchange slightly down on Wednesday
Arab Finance: The exchange rate of the US dollar to Egyptian pound edged down on Wednesday, with the US dollar trading at EGP 49.87 for buying and EGP 49.97 for selling at the Commercial International Bank Egypt (CIB). The exchange rate hit EGP 49.87 for purchasing and EGP 49.97 for selling at Banque Misr, and it recorded EGP 49.85 for buying and EGP 49.95 for selling at the National Bank of Egypt (NBE). The USD recorded EGP 49.95 for buying and EGP 50.50 for selling at the Suez Canal Bank. At both the United Bank and Faisal Islamic Bank of Egypt, the exchange rate stood at EGP 49.85 for purchasing and EGP 49.95 for selling. The US dollar recorded EGP 49.85 for buying and EGP 49.95 for selling at Al Baraka Bank Egypt. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Zawya
19-06-2025
- Business
- Zawya
USD/EGP exchange rates continue rising at Egyptian banks
Arab Finance: The exchange rate of the US dollar to Egyptian pound edged up to EGP 50.5 for buying and EGP 50.6 for selling at the National Bank of Egypt (NBE), Banque Misr, and the Commercial International Bank Egypt (CIB). During Wednesday's mid-session, the USD traded at EGP 50.2 for purchasing and EGP 50.3 for selling. The US dollar has been recently witnessing fluctuations amid rising tension in the Middle East. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Zawya
17-06-2025
- Business
- Zawya
USD/EGP exchange rates stable at Egyptian banks on Monday
Arab Finance: The exchange rate of the US dollar to Egyptian pound hit EGP 50.21 for buying and EGP 50.31 for selling at the National Bank of Egypt (NBE) as well as Banque Misr on Monday. Likewise, the USD traded at EGP 50.21 for purchasing and EGP 50.31 for selling at the Commercial International Bank Egypt (CIB). At the United Bank, the exchange rate recorded EGP 50.20 for purchasing and EGP 50.30 for selling. Globally, the US dollar climbed against major currencies, backed by safe-haven buying from investors fearing the Israel-Iran conflict, which raised broader economic risks from disruptions in the oil-rich region. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Zawya
16-06-2025
- Business
- Zawya
USD/EGP exchange rates hike at Egyptian banks on mid-Sunday
Arab Finance: The exchange rate of the US dollar to Egyptian pound surged during Sunday's opening session, with the dollar recording EGP 50.77 for buying and EGP 50.87 for selling at the Suez Canal Bank. At the United Bank, the exchange rate traded at EGP 50.50 for purchasing and EGP 50.60 for selling. At Banque Misr, the US dollar recorded EGP 49.57 for buying and EGP 49.67 for selling at 11:42 AM. The USD registered EGP 50.6 for buying and EGP 50.7 for selling at Faisal Islamic Bank of Egypt. Meanwhile, it hit EGP 50.59 for purchasing and EGP 50.69 for selling at both the National Bank of Egypt (NBE) as well as the Commercial International Bank Egypt (CIB). © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
