Pre-Trading Thoughts

The CBE has instructed all banks to charge a minimum interest rate of 24% on secured loans. The new rule that came into effect yesterday is intended to clamp down on the carry trade following the issuance of high-yield CDs by the country’s two largest banks. The government is planning to launch a central bank digital currency (CBDC) by 2030. The government is also aiming to achieve 100% financial inclusion by 2030 — up from 67.3% recorded in June. The government wants to help 1 million Egyp...