CBE governor directs banks to expand funding

Central Bank of Egypt (CBE) Governor Tarek Amer on Sunday stressed the necessity of supporting small-sized and under-construction enterprises that offer applicable investment ideas.

During a meeting with presidents of banks, Amer called for expanding the funding base of banks in order to strike a balance between funds offered to mega and small-sized companies.

Amer directed banks to adopt an investment approach through creating diversified investment funds for real estate funds to capitalize on the current real estate portfolios.

The heads of the banks welcomed Amer's directives that aim at creating balanced investment portfolios and expanding the investment base in markets.

The meeting tackled funding SMEs and activating them through offering support to existing companies through the initiatives of the CBE, according to a statement issued by the CBE on Sunday.

Meanwhile, Amer reviewed the CBE monetary policy summary since November 2016 and its impact on the inflation rate that started to retreat at the end of Q1 and start of Q2 of 2017/2018 FY.

Source: MENA