Egyptian Commercial Service (ECS)’s Post

Last week was eventful in #Cairo, with the joint meeting of the Arab financial organizations (video), where #Buna was an important topic on the agenda, the Arab finance ministers meeting and the high-level policy roundtable on “Enhancing resilience to shocks and lifting growth: the role of macro-financial policies”, where it appeared that #Buna has a role to play as an infrastructure to support a more integrated Arab capital market. #crossborderpaymemt #regionalfinancialintegration #paymentasitshouldbe #financialintegration

📈 Exciting Economic Developments in Egypt! 🇪🇬 Despite a recent market dip, I'm thrilled to share some positive economic indicators for Egypt 1. Fitch upgraded Egypt's outlook to positive, signaling growing confidence in its economic stability. 2. Insights from a recent interview with the Minister of Finance hint at potential future economic reforms and partnerships, offering promising prospects. While the Egyptian Exchange (EGX) experienced a temporary decline, it's essential to note that markets often react to short-term fluctuations. I'm optimistic about Egypt's long-term potential and believe these positive signals are worth exploring. Check out my latest video where I delve into these topics further. #Economy #Egypt #Investing #FinancialOutlook #PositiveSignals #EGX #MarketUpdate

Delighted to be hosted by Maya Jureidini on Al Arabiya News Channel as we discussed the latest interest rate action by the Central Bank of #Canada, and what this mean for the #housing market. We also delved into the impact of the #US presidential elections on various #EmergingMarkets and #FrontierMarkets, focusing on #LATAM. Tune in to catch my insights on what to watch out for in the coming weeks, and what the results of #USelections could trigger in #EmergingMarkets and #FrontierMarkets alike.

Great to speak @ the Arab Federation of Capital Markets (AFCM) Annual Conference - Qatar 2024 and meet many of you in Doha. The Panel topic was "Islamic Finance in the Era of FinTech: Embracing a New World?" hopefully will talk more about that later isa. On the side had few interviews, below is a link to the live interview Alaraby Television Network: Fitch's Global Head of Islamic Finance Bashar Al-Natoor explains to Arab TV the technical and legislative disparities in Arab countries regarding the development of capital markets... https://lnkd.in/d7yPeQXx تفاوت في دول عربية عدة"..المدير العالمي للتمويل الإسلامي في وكالة فيتش بشار الناطور يوضح للتلفزيون العربي التباين التقني والتشريعي في الدول العربية فيما يتعلق بتطور أسواق المال Fitch's Global Head of Islamic Finance Bashar Al-Natoor explains to Arab TV the technical and legislative disparities in Arab countries regarding the development of capital markets... ➖➖➖➖➖➖➖➖➖➖➖➖➖➖➖➖➖➖🌐⬇️ 𝕱𝖔𝖗 𝖒𝖔𝖗𝖊 𝖔𝖓 𝕴𝖘𝖑𝖆𝖒𝖎𝖈 𝕱𝖎𝖓𝖆𝖓𝖈𝖊: https://lnkd.in/fucmrFT ➖➖➖➖➖➖➖➖➖➖➖➖➖➖➖➖➖➖#️⃣⬇️ #islamicfinance #sukuk #islamicbanking #capitalmarkets

Our CIO, Ahmed Jaber, IMC, at #ARO, was live on Al Arabiya News Channel discussing the latest out of #Canada's interest rate decision, the impact of #USelections on Corporate Bonds as well as anticipated impact from the US presidential race on #EmergingMarkets and #FrontierMarkets alike Tune in, and understand how to position your portfolio in #EmergingMarkets while staying ahead of the curve! 🌍 🎯 #AIMWITHARO

I am delighted to annouce the acceptance of my latest paper entitled "Evaluating the effectiveness of price monitoring mechanisms in alleviating the monopoly of basic goods in Egypt" for publication in IJDJL.

My interview today on Bloomberg Asharq on the outlook for the Egyptian economy Within the discussion, I was asked about the outlook, particularly in relation to economic growth and the expectations for the benefits of the recent monetary policy changes being seen across the economy in Egypt. I noted that the high rate of inflation must be brought down as quickly as possible to provide economic stability to help consumers and the poorest in society after a long period of very high inflation has diminished savings and spending. I also noted that the private sector also needs to see a fall in the rate of inflation to begin to increase confidence before then increasing investment increasing employment. Higher interest rates are also limiting the ability of the government, given its increased interest payments. Bringing down inflation will call upon the wider government to also look into undertaking action to look at the possible inputs of higher prices, including reviewing monopolistic and oligopolistic behaviour in the market. Investors domestically and internationally will be reviewing the wider government’s policy responses to the continuing economic stresses to ensure that Egypt has truly started a new economic path, which will include selling state assets, IPOs, continuing to boost the background for private sector investment and new ways to boost domestic economic sentiment. As I have noted for years, that a "New Deal" for Egypt to boost investment at a local level to increase employment and improve local services should be part of this long-term response. Not least within this is to review government spending, to ensure a more efficient and long-term economic benefit. In the short term, the Central Bank of Egypt and the Ministry of Finance are doing the right thing – now the wider government needs to focus to boost growth, domestic business sentiment and create better conditions to increase long-term investment for domestic investors and for the general public to have hope that there will be an economic recovery within which they see much lower inflation and within which they will have employment. There is no time for the government to relax. #Egypt #economy #centralbanks #inflation #monetarypolicy #economicpolicies #MENAregion #investment #interestrates https://lnkd.in/eXvG3K6f

Events The links below are my latest two interviews on Bloomberg Asharq. One interview discusses Iranian issues following the death of the former President of Iran, Ebrahim Raisi and the other interview discusses the Egyptian banking market, high liquidity levels and the actions of the Central Bank of Egypt and the high rate of inflation.   Iran In summary: No change in policies, domestic and foreign, and a control of the narrative of politics and a smooth transition to a new President albeit some controlled jostling of positions and a higher level of alertness for any demonstrations which would be, as usual, dealt with heavily. Regionally and further afield Iran’s role and participation as a destabilising force will continue. https://lnkd.in/dscCpSq5     Egypt In summary: There has been a rise in excess commercial bank liquidity in Egypt we discussed the responses of the Central Bank of Egypt (which continues to handle the stresses very well). We also discussed the continuing very high rate of inflation and interest rates and my expectation for the Central Bank of Egypt to continue to be cautious in cutting rates, with a potential cut in interest rates in July, assuming that there is a fall in the rate of inflation. (I remain concerned about the overall effects of these continuing and stubborn high inflation rates on the population and the long-term negative impact on consumer spending and its social toxicity, not least on the poorest in society. The risk of higher global food prices transmitting additional inflation into Egypt remains a red flag). #Iran #Egypt #MENA #MiddleEast #Economy #inflation #centralbanks #commercialbanks #InterestRates #geopolitics #politics   https://lnkd.in/d4aFktdp

Minister of #Supply to Al Mal: We seek to provide the largest strategic balance of wheat in #Egypt Egypt's #Minister of Supply and Internal Trade, Dr. Sherif Farouk, is working to increase the country's strategic #wheat balance to more than nine months, up from the current six months, in response to #geopolitical #tensions. To achieve this, the government is #importing 3.8 million tons of wheat, with 280 thousand tons already imported and #tenders being issued for the remaining quantities. Egypt, a new member of the #BRICS group, is also considering #trade #exchange in local #currencies with other member countries. https://lnkd.in/d3Br27Fn

Mr. Nicolas Boukather, President of RDCL, addressed Lebanon's critical situation in an interview with Annahar Newspaper's economic journalist, Mrs. Salwa Baalbaki: 📌 Lebanon faces a dire economic reality, with projections indicating a record low GDP of $12 billion if the conflict goes on for year, potentially ranking below Gaza and the West Bank. 📌 The current budget estimates, based on unrealistic GDP figures, threaten to exacerbate the crisis, leading to severe devaluation the national currency with irrecoverable repercussions on public institutions.  📌 Boukather emphasizes the urgent need for parliament to be opened, electing a president with the broadest possible consensus whom defend its constitution, implement international resolutions and enact essential reforms along with a reformist government. 📌 It is imperative that Lebanon rebuild its institutions and become a key player at the negotiating table, rather than a prey on the negotiation menu and a victim of others' conflicts on its soil. 📌 He calls on Lebanese leaders to heed the people's message whom have opened their hearts, welcoming their compatriots into their homes and schools. Parliamentarians needs to ensure building a sovereign state, with a strong national army, an independent justice, and a formal economy. 👉 For the full article  https://lnkd.in/d5f3h76d