Notice: Trying to get property 'display_name' of non-object in /home/theproficientinv/public_html/wp-content/plugins/wordpress-seo/src/presenters/meta-author-presenter.php on line 40
Stock

Egypt’s central bank ready to intervene if necessary

imageForex10 hours ago (Mar 15, 2020 11:41AM ET)

(C) Reuters. Egypt’s central bank ready to intervene if necessary

CAIRO (Reuters) – Egypt’s central bank said on Sunday it was ready to intervene immediately to maintain banking and monetary stability if necessary, after the government announced steps to contain the coronavirus outbreak.

The central bank instructed banks to cancel fees and commissions for six months on ATM withdrawals, e-payments and transactions made on retail point-of-sale machines. It also told banks to postpone loan repayment demands for small and medium businesses and to suspend penalties for late payments.

The statement said the measures were “in line with the state’s direction concerning coronavirus developments and to ensure the stability and security of the banking sector.”

Egypt closed schools and universities for two weeks on Sunday to prevent the spread of the virus as the number of cases rose, reaching 110 on Saturday. Two people have died.

The suspension of classes follows previously announced measures including the cancellation of large public gatherings, restrictions on the time allocated for mass prayers and the halting of local football league matches for two weeks.

Egypt’s central bank ready to intervene if necessary

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Most Popular

Your daily news source covering investing ideas, market stocks, business, retirement tips from Wall St. to Silicon Valley.

Disclaimer:

TheProficientInvestor.com, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice.
The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2021 TheProficientInvestor. All Rights Reserved.

To Top