Arabian World Magazine’s Post

The Saudi Central Bank – SAMA saw a significant boost in its reserve assets during the first half of 2024. By the end of June, the total reserve assets reached SAR1.754 trillion ($467.4 billion), marking an annual growth of 5.5% or approximately SAR92.049 billion compared to the same period in 2023. This represents the highest level of reserve assets for the year. Read more: https://lnkd.in/dvM_june #SaudiArabia #Banking #Finance #Assets #CentralBank

Islamic Banks in UAE See Significant Asset Growth, Surging by $23.41 Billion in 12 Months. According to the Central Bank of The UAE (CBUAE), Islamic banks in the UAE experienced substantial #growth, with their assets increasing by approximately #AED86Billion ($23.41 billion) over the past year, reaching AED717.7 billion ($195.39 billion) by the end of February 2024, marking a notable annual #rise of 13.61% from the previous year. #IslamicFinanceGrowth #UΑΕIslamicBanks #CentralBankoftheUAE #FinancialMarket #BankingIndustry #UAEEconomy #ArabTimes #ArabNews #ArabTimesNews

In its latest meeting, the Central Bank of Egypt (CBE)’s Monetary Policy Committee decided to maintain the current key interest rates. The bank noted that “the current monetary stance is appropriate to support the sustained moderation of inflation.” The overnight deposit rate remained at 27.25%, the overnight lending rate at 28.25%, and the rate of the main operation at 27.75%. The discount rate was also held steady at 27.75%. Read more: https://lnkd.in/dwWWYpAm #Egypt #Inflation #Economy #Deposit #CentralBank

We are thrilled to announce that AzeWallet has officially received its final license from the Central Bank of Kuwait (CBK)! 🎉 This marks a significant milestone in our journey to revolutionize digital payments and financial services. With this license, AzeWallet is now fully equipped to offer secure, innovative, and customer-centric wallet solutions in Kuwait, helping to pave the way for a more cashless society. 💳📱 A huge thank you to our dedicated team, partners, and stakeholders for their relentless efforts in making this possible. We are excited to bring more cutting-edge financial solutions to our customers and continue driving innovation in the fintech space. 🚀 Stay tuned for more exciting developments as we move forward with our vision to reshape the future of digital wallets and financial technology in the region. #AzeWallet #Fintech #Innovation #CBKLicense #DigitalTransformation #Kuwait #FinancialServices #DigitalWallet #CashlessSociety

The Central Bank of Egypt (CBE) has announced the renewal of the exemption from all expenses and commissions for transfer services through the instant payment network, Instapay. Read more > https://shorturl.at/qVSPP #ArabFinance #Egypt #Economy #News #Instapay #Payment

#Infographic | The assets of Egypt’s banking sector reached EGP 14 trillion in 2023, reflecting a year-on-year (YoY) growth rate of 24.2%. These assets account for 92.3% of the total assets in the financial sector, according to data from the Central Bank of Egypt (CBE). #ArabFinance #Egypt #Economy #News #Banks

البنك المركزى المصرى يبقى على أسعار الفائدة دون تغيير. the Central Bank of Egypt’s Monetary Policy Committee (MPC) decided to keep the CBE’s overnight deposit rate, overnight lending rate, and the rate of the main operation unchanged at 27.25 percent, 28.25 percent, and 27.75 percent, respectively. The Committee also kept the discount rate unchanged at 27.75 percent. The decision reflects recent developments and outlook at the global and domestic levels since the previous MPC meeting.

#Infographic | In 2017, the remittances stood at $24.7 billion, showing a slight increase to $25.5 billion in 2018 and further climbing to $26.8 billion in 2019, as per data from the Central Bank of Egypt (CBE). The upward trend continued in 2020, reaching $29.6 billion, and in 2021, the figure rose to $31.5 billion. However, the trend abruptly reversed in 2022, dropping to $28.3 billion. The downward trajectory continued into 2023, with remittances falling to $19.5 billion. #ArabFinance #Egypt #Economy #News #Finance

The Central Bank of Oman (OCB) has announced that the total value of government treasury bills allocated for this week amounted to OMR13.6 million ($35.33 million). In a statement, the central bank explained that the value of the bills with a maturity period of 28 days reached OMR5 million. Their average acceptable price was OMR99.660 and the lowest acceptable price reached OMR99.660 per OMR100. Meanwhile, their average discount rate reached 4.43214% and the average return was 4.44726%. Read more: https://lnkd.in/d3gXsKDa #Oman #Tbills #Finance #interestrates #banking

MPC decides to keep key policy rates unchanged Cairo, Egypt — In its meeting today, the Central Bank of Egypt’s Monetary Policy Committee (MPC) decided to keep the CBE’s overnight deposit rate, overnight lending rate, and the rate of the main operation unchanged at 27.25 percent, 28.25 percent, and 27.75 percent, respectively. The Committee also kept the discount rate unchanged at 27.75 percent. The decision reflects recent developments and outlook at the global and domestic levels since the previous MPC meeting.