Egypt’s banking system is solid, resilient: CBE deputy governor ElKholy

The Central Bank of Egypt (CBE) is working around the clock to ensure the soundness and stability of the banking system, Deputy Governor Tarek ElKholy said in a press conference on Wednesday.

ElKholy emphasised that Egypt’s banking sector is solid and resilient with capital adequacy ratio (CAR) amounting to 18.6 per cent, much higher than the international minimum capital ratio requirements of 10 per cent.

Liquidity levels currently stand at around 37 per cent, the CBE official noted.