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Central Bank of Egypt

Central Bank of Egypt
البنك المركزي المصري

Headquarters	Cairo
Coordinates	30°03′16.9″N 31°14′48.0″E / 30.054694°N 31.246667°E / 30.054694; 31.246667 30°03′29″N 31°14′03″E / 30.0581°N 31.2343°E / 30.0581; 31.2343
Established	25 June 1898 (1898-06-25)[1]
Ownership	100% state ownership[2]
Governor	Hassan Abdullah
Central bank of	Egypt
Currency	Egyptian pound EGP (ISO 4217)
Reserves	US$40.361 billion[2]
Bank rate	12.25[3]
Interest on reserves	11.25%[3]
Preceded by	National Bank of Egypt (until 1960)
Website	www.cbe.org.eg

The Central Bank of Egypt (CBE; Arabic: البنك المركزي المصري) is the central bank and monetary authority of the Arab Republic of Egypt.

Since the trading of gold and silver coins in Egypt and until 1834, there was no one unit of currency to unify the country. In 1834, a decree was realised stating the forging of an Egyptian currency based on the two metals (gold and silver). In accordance with said decree, the minting of a currency in the shape of gold and silver Riyals began. In 1836, the Egyptian pound was first introduced and it became open for public use.^[4]

The bank floated the Egyptian pound during the morning of the 13th of November 2016.^{[5] [6]}

Its functions include^{[citation needed]}

• Regulates banks and the banking system of Egypt;
• Formulates and implements Egypt's banking policy, monetary policy and credit policy;
• Issues banknotes;
• Manages gold and the foreign exchange reserves of the Arab Republic of Egypt
• Regulates and manages Egypt's presence in the foreign exchange market;
• Supervises the national payments system;
• Manages Egypt's public and private external debt.

Following is a list of the Governors of the Central Bank of Egypt:^[7]

• List of central banks of Africa
• Economy of Egypt
• List of central banks

• Official website

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