2013-06-17

Banks' emergency plan to maintain cash balances

In Cairo, on June 16th, 2013, The Governor/ Chairman of the Board of the Central Bank of Egypt, Addressing the banking system, he emphasized that it is necessary to fully commit to the following: - Suspend operations for at least five days to refill the bank's reserves. - Set a minimum required reserve ratio by adding to the current required reserve ratio from each branch of your branches according to the central bank's reserve requirements, taking into account regional distribution across the network of branches to meet local government needs and foreign exchange in Cairo.

Egypt

Central Bank of Egypt

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