Cairo – Mubasher: The foreign-denominated net assets held by Egyptians banks abroad jumped by 100% to record more than $20 billion in February, compared to $10 billion in April 2020, an official source at the Central Bank of Egypt (CBE) told the Middle East News Agency (MENA).
This reflects the strength of the Egyptian banking sector and the sound policies adopted by the CBE amid the repercussions of the coronavirus (COVID-19) pandemic, said Haitham Adel, Head of Treasury at the Industrial Development Bank.
Moreover, the international reserves held by the CBE amounted to about $41 billion, he added.
