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Banks resume working amid unrest

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Banks returned to working normally starting Sunday for only three hours a day

Central Bank of Egypt Governor Hisham Ramez ( AFP - Photo)

Governor of the Central Bank of Egypt (CBE) Hisham Ramez instructed banks in Egypt to resume operations starting Sunday for 3 hours a day from 9 am to noon.
(AFP Photo)

By Doaa Farid

Despite the tenuous security situation, the stock market and banks resumed their work on Sunday after being closed since Thursday due to the escalating violence.

Banks worked on Sunday from 9am to 12pm for citizens’ services. Bassel Rahmy, the head of retail at the Bank of Alexandria confirmed that nothing hampered the work of the bank in any branch, explaining that the customers understand the exceptional circumstances facing the country.

Rahmy said police and security forces are cooperating to secure bank branches and avoid any violence during working hours.

He also predicted that the limited working hours for banks may last for few days until the violence in the streets is under control.

Fatma El-Gouly, the head of the communication department at Banque Misr, said: “the bank is conducting business as usual.”

The Central Bank of Egypt ordered banks to shut down early on Wednesday after the dispersing of the sit-ins by Mohamed Morsi supporters at Al-Nahda square in Giza and Rabaa Al-Adaweya in Nasr city.


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