success of upcoming period not to reflect on egypt only
Last Updated : GMT 05:17:37
Emiratesvoice, emirates voice
Emiratesvoice, emirates voice
Last Updated : GMT 05:17:37
Emiratesvoice, emirates voice

CBE Governor Hisham Ramez:

Success of upcoming period not to reflect on Egypt only

Emiratesvoice, emirates voice

Emiratesvoice, emirates voice Success of upcoming period not to reflect on Egypt only

CBE Governor Hisham Ramez
Cairo - Arab Today

The success of the upcoming period will not only be reflected in a positive way on Egypt but will also include the entire region, affirmed Central Bank of Egypt (CBE) Governor Hisham Ramez.
In his speech during Egypt Economic Development Conference (EEDC), which is currently being held in Sharm el Sheikh, Ramez said that the real challenge started in 2011 and the political changes which affected the country.
Also, the tourism sector was greatly affected during this period and the capital as well, he went on to say.
Despite the great challenges, the CBE dealt seriously with the market fears, he added.
The CBE fulfilled all the obligations of foreign currency to Egypt without any delay, he said.
Such commitments included foreign debts, including those to Paris Club, along with compensations to a number of European countries, which reached up to 22 billion dollars, said Central Bank of Egypt (CBE) Governor Hisham Ramez.
The CBE also manged to fulfill obligations related to importing main goods, he added.
The total volume of assets increased by 53% and the volume of deposits went up by 65%, he noted.
Also, the volume of loans inched up by 37%, he said, expecting more growth within the forthcoming period.
He, meanwhile, said that the CBE announced in March 2013 the initiative related to the mortgage loan.
In December 2014, the CBE also facilitated measures related to the issuance of Suez Canal certificates, which aimed to finance the New Suez Canal Project.
The upcoming period will witness opening new spheres for businesses, said Central Bank of Egypt (CBE) Governor Hisham Ramez.
He further affirmed the CBE's support to the small and medium-sized industries.
The CBE will focus on creating the necessary investment climate to facilitate funding and promote consumer protection, he said.
The CBE took courageous steps to ensure the effectiveness of the foreign currency market, he noted. In 2012, the CBE adopted a policy which banned trade on the black market, according to Ramez.
He further said that the CBE imposed rules which led to eliminating the black market.
The CBE witnessed a growth in sources, which were directed to official channels for liquidity and meeting Egypt's needs of foreign exchange, he said.
He also pointed out to the report of the International Monetary Fund (IMF) on the Egyptian economy.
The IMF commended the recent measures and serious steps taken by Egypt to improve the economy, he said.
The banking sector in Egypt is in good shape, he affirmed.
The CBE passed through several challenges but it managed to overcome them, he concluded.
Source: MENA

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

success of upcoming period not to reflect on egypt only success of upcoming period not to reflect on egypt only

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

success of upcoming period not to reflect on egypt only success of upcoming period not to reflect on egypt only

 



GMT 22:23 2018 Saturday ,13 January

Vardy fit to return against Chelsea

GMT 10:29 2017 Wednesday ,15 February

Syrian refugees shrug off peace talks but dream of home

GMT 16:17 2018 Thursday ,30 August

Five Saudi women pilots granted GACA licences

GMT 15:05 2011 Friday ,08 July

Pamplona bull gores \'reckless\' Australian

GMT 11:19 2012 Friday ,13 July

Sushi in 10 steps

GMT 14:20 2014 Sunday ,02 March

French film director Alain Resnais dies aged 91

GMT 00:44 2015 Friday ,10 April

Qatar's emir, Saudi king discuss developments

GMT 17:03 2012 Tuesday ,25 December

Olfat Omar reveals new role as talk show presenter

GMT 18:26 2017 Tuesday ,31 October

Army repels Saudi-paid mercenaries in Taiz

GMT 02:03 2014 Saturday ,28 June

North Korea criticises Kim assassination comedy
 
 Emirates Voice Facebook,emirates voice facebook  Emirates Voice Twitter,emirates voice twitter Emirates Voice Rss,emirates voice rss  Emirates Voice Youtube,emirates voice youtube  Emirates Voice Youtube,emirates voice youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

emiratesvoieen emiratesvoiceen emiratesvoiceen emiratesvoiceen
emiratesvoice emiratesvoice emiratesvoice
emiratesvoice
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
emiratesvoice, Emiratesvoice, Emiratesvoice