The Central Bank of Egypt (CBE) denied what was recently circulated on some of the websites and social media platforms regarding the resignation of Gamal Negm, Deputy Governor of the bank from his position.
A statement issued by the central bank confirmed that “Negm” continues to perform its duties in a normal manner.
One of the news websites had claimed that Negm submitted his resignation, against the background of the appointment of Hassan Abdullah as acting governor of the central bank.
Today, Negm attended the Monetary Policy Committee’s meeting via the video conference system, to settle the interest rate in banks, as the committee decided to keep the interest rates unchanged for the second time in a row.
MPC, in its meeting today decided to fix the interest rates on deposit and lending overnight and the price of the main operation at 11.25%, 12.25% and 11.75%, respectively.
The Central Bank of Egypt decided to fix the credit and discount rate at 11.75%.