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Latest in Tag: customer accounts


Central Bank of Egypt

CBE allows banks to direct part of US dollar-denominated proceeds to cover temporary overdrafts on customer accounts

The Central Bank of Egypt (CBE) has allowed banks working in the domestic market to direct part of their proceeds denominated in US dollars to cover customers’ temporarily overdraft accounts. According to the CBE’s instructions received by banks on Tuesday, after covering imports on essential goods banks can direct 50% of their hard cash towards …

Hossam Mounir

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