![[Explained] Islamic Sukuk](https://businessforwardauc.com/wp-content/uploads/2025/02/eduardo-soares-utWyPB8_FU8-unsplash-scaled-1-1024x683.jpg)
“Egypt’s First Islamic three-year Sovereign Sukuk with a yield of 11-11.6 percent” has been ricocheting across the news recently. Most of us have heard about sovereign bonds, but what is an Islamic Sukuk, and why did Egypt decide to finally tap this market for the first time, a move that has been anticipated for some […]
The IMF has long been scrutinized for prioritizing macroeconomic reform over inclusive development that is felt across social demographics and structure. What does Said Backache, IMF senior representative in Egypt, have to say about it?
Financial technologies (Fintech) have played a key role in the Egyptian startup scene’s growth spurt of the past decade. The youth bulge and a high rate of mobile phone penetration, topped by the government’s financial inclusion agenda, set the stage for more investment in Fintech solutions. The need for these solutions was even more intensified
![[Long Read]: Financial inclusion - Are small businesses being incentivized enough?](https://businessforwardauc.com/wp-content/uploads/2025/02/card-payment-1727353_1280a-1024x683.jpg)
More and more of our daily purchases are increasingly being done using the plastic in our pockets, not just at the cashier but online as well, with consumers all over the world gradually transitioning to cashless payments. In 2017, global non-cash transactions reached $538.6 billion in value, with $96.2 billion taking place in the Middle
On the sidelines of the Business Forum held earlier this year at the American University in Cairo (AUC), investor Christopher Schroeder spoke exclusively to Business Forward on what is needed to encourage a more entrepreneurial environment in the Middle East and on the promise of financial technology (fintech) in revolutionizing business and the lives of
On Monday, February 10, 2020, the Egyptian pound, on the back of stable foreign currency inflow, reached its highest value since the 2016 devaluation, hitting EGP 15.67 against the US dollar as announced by the Central Bank of Egypt (CBE). Seen as an indicator of a healthy economy, the stable appreciation of the EGP in
In August 2016, Egypt signed an agreement with the International Monetary Fund (IMF) to acquire a $12 billion loan, carrying with it a number of required reforms, setting the stage for the floatation of the Egyptian pound (EGP) in November of that year, after decades of following a fixed exchange rate policy by pegging the
While the 2019 World Investment Report ranked Egypt as the top host of foreign direct investment (FDI) inflows in Africa, with $6.8 billion in 2018, the amount records an 8.2% drop from the previous year ($7.4 billion), making people wary about how much FDI Egypt can actually attract. On the other hand, in February, the
While Egypt is targeting a 6%-economic growth rate in fiscal year 2020, the country is struggling in attracting and sustaining strong foreign direct investment (FDI) inflows. Previously, Minister of Investment and International Cooperation Sahar Nasr announced that FDI will reach around $8 billion by 2019/2020, regardless of global economy slowdown and trade tensions. However, the
Earlier this week, governor of the Central Bank of Egypt (CBE) Tarek Amer said that Egypt’s economic development depends on 1% of the population – namely the business community. If proper financial penetration was implemented in Egypt using fintech, economic growth levels will double from the current 5.5%, he suggested. Given the importance of financial
Although Egypt’s current economic reforms are underway, financial experts seem wary as the country is struggling to secure direct investments required for economic prosperity. During a seminar held by the Egyptian Center for Economic Studies (ECES) called “What is happening in the Egyptian capital market: A sectoral crisis or reflection of economic performance?”, former president
Maintaining a low and stable inflation rate is a primary objective of central banks and governments around the world; yet, it is never an easy task due to many factors that can derail it. A high and volatile inflation rate is bad news for the countries’ economic health; it directly hits consumers’ pockets, decreases the
