UAE and Kuwait extending deposits reveals confidence in Egypt’s economy: Bankers ...Egypt

Banking experts said that the UAE and Kuwait’s extension of the deadline for deposits due soon to 2024 and 2026 contributes to supporting cash reserves at the Central Bank of Egypt, and comes in light of the major role played by Arab countries in supporting the Egyptian economy in light of global economic conditions. Banking expert Ahmed Shawky, stated that the announcement for the renewal of the two deposits is an indication of the strength of confidence in the Egyptian economy. The cash reserve is a last line of defense, he said, resorted to in times of crises. Shawky pointed out that before coronavirus pandemic, Egypt’s foreign currency reserve amounted to about $45 billion. During the pa

Read More Details
Finally We wish PressBee provided you with enough information of ( UAE and Kuwait extending deposits reveals confidence in Egypt’s economy: Bankers )

Also on site :

• Robert Kiyosaki recommends Bitcoin investment as a hedge against a potential global debt crisis
• France is betting Eutelsat can become Europe's answer to Starlink — but experts aren't convinced
• What’s in Trump and Senate Republicans’ tax and immigration bill?