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Egyptian Banks To Close Monday, Tuesday Amid Strikes -Central Bank

Posted in : Banks

(added last year!)

The Central Bank of Egypt said late Sunday that banks in Egypt will close on Monday and Tuesday due to workers' strikes and the birth of Prophet Mohammad. "Amidst the strikes of worker in some authorities, including public banks ... the central bank has decided to close banks on Monday Feb. 14 and Tuesday Feb. 15 on the occasion" of Prophet Mohammad's birth, the central bank said in an e-mailed statement.

Egypt's stock exchange said Saturday that it will reopen on Wednesday, three days later than planned, after political unrest in the country forced it to shut its doors on Jan. 27.

Egypt's bourse was originally planned to reopen Sunday, Feb. 13. The stock market closed following a 16% drop over a three-day period after protests intensified in the Arab republic. The central bank's announcement came two days after Hosni Mubarak resigned as president of Egypt, putting an end to his 30-year regime.

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(added last year!) / 171 views