Central Bank of Egypt

The Central Bank of Egypt (CBE; ) is the central bank and monetary authority of the Arab Republic of Egypt.[4]

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.[5]

The bank floated the Egyptian pound during the morning of the 13th of November 2016.[6][7] Financial reserves of the Egyptian pound stood at 2.24 trillion in December 2024.[8]

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;
• As part of this, launched an instant payment system called InstaPay in March 2022;
• Manages Egypt's public and private external debt.

List of governors

Following is a list of the Governors of the Central Bank of Egypt:[9]

See also

• List of central banks of Africa
• Economy of Egypt
• List of central banks

External links