Banking Industry Forum urges action to combat money-laundering, terrorism financing

Sun, 15 Nov 2020 – 03:43 GMT

SHARM El SHEIKH – 15 Novemeber 2020: Participants in the Banking Industry and Future of Financial Services Forum recommended on Sunday to unify efforts to combat the threats of money-laundering and terrorism financing, especially in light of the coronavirus pandemic.

This came at the concluding session of the forum held under the auspices of the Central Bank of Egypt (CBE). The three-day event was organized by the Union of Arab Banks (UAB).

The participants also called for preparing an overall study concerning the digital transformation in banks, stressing the importance of expanding financial digital lending technology platforms.

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Egypt’s central bank issues LE 11B in T-bonds Monday

Egypt Today staff

Mon, 16 Nov 2020 – 08:02 GMT


CAIRO – 16 November 2020: The Central Bank of Egypt (CBE), on behalf of the Ministry of Finance, issued LE 11 billion in treasury bonds on Monday, Nov. 11. 

The T-bonds were offered in three installments, with the first valued at LE 2.5 billion with a two-year term, and the second worth LE 5 billion with a five-year term.

For the current fiscal year, the budget deficit is estimated to record 6.3 percent of gross domestic product (GDP), planned by the ministry to be financed through treasury bills and bonds and through international and Arab loans.

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