This is the fourth article in the series 'Egyconomy' by Egyptian Streets, where Marina Makary explores current trends and debunks popular misconceptions surrounding the Egyptian economy. The Central Bank of the UAE (CBUAE) and the Central Bank of Egypt (CBE) signed a bilateral currency swap agreement involving the UAE dirham and the Egyptian pound, last
India is in discussions with other jurisdictions to address the high cost of cross-border remittances, according to Reserve Bank Deputy Governor T Rabi Sankar. He described the current situation as "unconscionable" given the availability of cheap data connectivity. Sankar suggested that the introduction of a central bank digital currency (CBDC) could lower the cost of cross-border payments by bypassing the legacy correspondent banking system.
Large deposits greater than Dh20 million made up nearly 60 per cent of deposits in UAE banks until the end of 2022, data from the country's Central Ban..