Sisi review efforts to provide foreign exchange, banking sector activities

President Abdel Fattah El Sisi on Tuesday chaired a meeting attended by Governor of the Central Bank Hisham Ramez.

Presidential spokesman Alaa Yousef said the Governor of the Central Bank briefed the president on the the current economic situation, particularly efforts to provide the necessary foreign exchange to provide the citizens' needs on the occasion of the holy month of Ramadan.

Ramez said that the actions taken by the Central Bank on the exchange rate contributed to an increase in the dollar toll at the Egyptian banks.

Remittances from Egyptians expatriates became within the formal banking system of Egypt, he added.

Ramez also also briefed the president on the activities of the banking sector and its role in providing employment opportunities and promoting the business movement and the investment financing, that contributes to supporting the Egyptian economic capability, especially in light of the remarkable growing in size direct investments in Egypt in various sectors.

The Governor of the Central Bank noted that the recent economic decisions and actions have the greatest impact in raising the credit rating of Egypt from "stable" to "positive".