CBE Launches Treasury Notes for First Time with EGP 150 Billion Offering

The Central Bank of Egypt (CBE) has launched treasury notes for the first time, issuing instruments worth EGP 150 billion with a maturity period of 63 days, as part of efforts to enhance liquidity management and diversify monetary policy tools.

The newly introduced instruments began trading on July 16, 2026, and are scheduled to mature on September 17.

Unlike traditional treasury bills and bonds issued by Egypt’s Ministry of Finance to finance the state budget, the new treasury notes feature a floating return mechanism linked to the mid-corridor rate plus a 0.30% margin.

The structure provides the central bank with greater flexibility in managing financing costs, as the return adjusts in line with monetary policy conditions.

Official data published on the CBE’s website showed that the offering was fully subscribed. The auction received two bids with a combined value of EGP 150 billion, and all submitted offers were accepted, resulting in a 100% allocation rate matching the targeted issuance value.

The introduction of the new instrument marks a new step in Egypt’s financial market development, providing an additional tool for managing liquidity and supporting the effectiveness of monetary operations.