Business Hub _ Special _ Cairo
Mohamed Badir, CEO of QNB Al Ahli Bank, confirmed, The Central Bank of Egypt’s decision to raise interest rates by 2% yesterday, It came at an appropriate time to keep pace with the events and crises experienced by the economies of the world, which witnessed a significant rise in inflation rates as a result of many intertwined crises such as the Russian-Ukrainian war, the crisis of supply and supply chains, the rise in energy prices, and the repercussions of the Corona pandemic, which inflicted great losses on the global economy.
Mohamed Badir added, The Central Bank of Egypt uses what it deems appropriate from the monetary policy tools after careful study and deep analysis to control inflation rates, contain price increases and strengthen the Egyptian currency.
The CEO of QNB Al Ahli Bank praised, the monetary policies pursued by the Central Bank and its constant keenness to support depositors’ money, In addition to his interest in the owners of small, medium and micro enterprises, and the launch of special initiatives that support the agricultural, industrial, commercial and service sectors at an interest rate of 5% and 8% to contribute to the advancement of the national economy. He stressed the strength and resilience of the Egyptian banking sector in withstanding crises and its ability to overcome them and limit their negative effects on the economy.