Central Bank of Egypt
The Central Bank of Egypt (CBE; Arabic: البنك المركزي المصري) is the central bank and monetary authority of Arab Republic of Egypt.
Headquarters | Cairo |
---|---|
Coordinates | 30°03′16.9″N 31°14′48.0″E |
Established | 1898[1] |
Ownership | 100% state ownership[2] |
Governor | Tarek Amer |
Central bank of | Egypt |
Currency | Egyptian Pound EGP (ISO 4217) |
Reserves | 12 120 million USD[2] |
Bank rate | 16.75%[3] |
Interest on reserves | 15.75%[3] |
Website | www.cbe.org.eg |
Currency
Since the trading of gold and silver coins in Egypt and until 1834, there was no one unit of currency to unify the country. In 1834, a decree was realised stating the forging of an Egyptian currency based on the two metals (gold and silver). In accordance with said decree, the minting of a currency in the shape of gold and silver Riyals began. In 1836, the Egyptian Pound was first introduced and it became open for public use. [4]
The bank floated [5] the Egyptian Pound [5][6] during the morning of [6] the 13th of November 2016[5]
Functions
Its functions include
- Regulates banks and the banking system of Egypt;
- Formulates and implements Egypt's banking policy, monetary policy and credit policy;
- Issues banknotes;
- Manages gold and the foreign exchange reserves of the Arab Republic of Egypt
- Regulates and manages Egypt's presence in the foreign exchange market;
- Supervises the national payments system;
- Manages Egypt's public and private external debt.
List of Governors
Following is a list of the Governors of the Central Bank of Egypt: [7]
Name | Period |
---|---|
Ahmed Zaki | 1951–1952 |
Mohamed Fekry | 1952–1955 |
Ahmed Zaki | 1956–1957 |
Abd El-Gelil El Emary | 1957–1960 |
Abd El-Hakim El Refaie | 1960–1964 |
Ahmed Zendo | 1964–1967 |
Ahmed Nazmy | 1967–1971 |
Ahmed Zendo | 1971–1976 |
Mohamed Ibrahim | 1976–1982 |
Mohamed Shalaby | 1982–1985 |
Ali Negm | 1985–1986 |
Mahmoud Hamed | 1986–1993 |
Ismail Hassan | 1993–2001 |
Mohamed Abul Eyoun | 2001–2003 |
Farouk El-Okdah | 2003–2013 |
Hisham Ramez | 2013–2015 |
Tarek Hassan Amer | 2015–Present |
References
- http://www.bcl.lu/fr/publications/autres_publications/brochure_2008.pdf
- https://d-nb.info/1138787981/34
- "Press Release" (PDF). Central Bank of Egypt. 2019-03-28. Retrieved 2019-03-31.
- "نبذة تاريخية" (in Arabic). Central Bank of Egypt. Retrieved 28 June 2019.
- Hossam Mounir (November 2, 2017) — Flotation was boldest decision in history of Egyptian economic, banking sectors, published by Daily News Egypt - accessed 2020-02-14
- The EGP Devaluation: A new beginning, published by PwC - accessed 2020-02-14
- "CBE Governors". www.cbe.org.eg. Retrieved 2019-03-31.