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With a rate of base deposit of 8.75%
and a rate of base borrowing of 10.75%, Egypt central bank
is the main bank of Egypt. The bank dates from 1961 and has
a paid-up capital of 1000 million of Egyptian pounds.
The
Egypt's central bank has many employees, a deputy governor
and, of course, the main governor of the bank.
The bank provides important and numerous functions such as:
the supervising of the Egypt systems of payment, the
regulation and the supervising of the Egyptian banks
activities and of the Egypt's banking system, the
formulation and implementation of the Egypt's credit,
monetary and banking policies as well as the interbank
rates.
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Among the other bank functions is
the issuance of the currency and of the banknotes, the
prices stability maintenance, the management of the
Egypt foreign exchange reserves, the management and the
regulating of the Egyptian presence on the foreign market of
exchange, the management of the Egypt private and public
external debts, the management of the Egypt's reserves of
gold and foreign exchange.
The central bank of Egypt has many
associates such as the Egypt's Industrial Development Bank,
with 100.00%, the Holding Egyptian Banking Institute, with
100.00%, the Arab African International Bank of Egypt, with
49.37% and the United Bank of Egypt, with 99.90%.
Also, the bank has investments in the Union de Banques
Arabes et Françaises from France of 6.49% and in the Holding
British Arab Commercial Bank from the United Kingdom of
7.86%.
Also, the bank has investments in the Union de Banques
Arabes et Françaises from France of 6.49% and in the Holding
British Arab Commercial Bank from the United Kingdom of
7.86%. |
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The central bank of Egypt publications is the annual
report, published in English and Arab, as well as the
Economical Review Volumes and the Egypt External Position
Quarterly Report Volume. The bank also publishes a monthly
statistic bulletin.
For the valuation of the numerous employees` data, the bank
uses the HRMS (Oracles` E Business Suite Human Resource
Management System) which makes the valuation data process
much more easy. |
For the valuation of the numerous employees` data, the bank
uses the HRMS (Oracles` E Business Suite Human Resource
Management System) which makes the valuation data process
much more easy.
More, the central bank of Egypt has a partnership with Sun
Microsystems for a project of 2.85 million $ that implies
the modernization of the bank's computer network, security
centers, the whole IT infrastructure.
This implementation will also improve the communication of
the bank with the other banks in Egypt, international and
local.
The central bank of Egypt as well as the entire banking
system of Egypt plays a major role in the Egyptian economy
and not only. The entire process of development in Egypt
relies on the banking system. This system is made from the
local banks and banks that come from external countries,
and, of course, the main component of the system is the
central bank.
One of the largest and also oldest banking industries from
the Arab region is the Egyptian banking industry.
In case that you need to contact the central bank of Egypt,
the address is:
31 Kasr El-Nil Street, Cairo, Egypt.
The phone numbers are:
+20 2-2393-6127
+20 2-2393-6066
+20 2-2393-4134
+20 2-2393-8903
+20 2-2395-1769
Or, you can send a fax to: +20-2-392 63 61; 392 50 45
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