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Sada El balad
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Mohamed Wadie

Banks, Stock Exchange to Take Official Leave on Thursday- CBE

Taarek Refaat by Taarek Refaat
9:04 PM January 23, 2022
The domestic liquidity in the banking sector rose to EGP 6.280 trillion in the first quarter of 2022, compared to EGP 5.822 trillion in Q4 of 2021, an increase of EGP 457.5 billion, and a growth of 7.8%, according to the Central Bank of Egypt (CBE). Central Bank data revealed that the money supply recorded EGP 1.469 billion at the end of March, compared to EGP 1.382 trillion at the end of December 2021. Cash in circulation outside the banking system amounted to EGP 717.2 billion at the end of March 2022, compared to EGP 701.8 billion at the end of December 2021, according to the central bank. As for deposits in local currency, total deposits in banks - other than the government - rose to EGP 4.754 trillion in Q1 of 2022, compared to EGP 4.469 trillion at the end of December 2021, with a growth of 6.3% within 3 months. Central Bank data showed that deposits in local currency were divided into demand deposits, time deposits and savings certificates. Demand deposits recorded EGP 752.254 billion at the end of March 2022, compared to EGP 680.464 billion at the end of last year, while time deposits and savings certificates scored EGP 4.002 trillion in Q1 of 2022, compared to EGP 3.789 trillion at the end of December. Foreign currency deposits With regard to deposits in foreign currency, the total deposits of banks in foreign currency - other than the government - increased to reach EGP 808.372 billion Q1 of 2022, compared to EGP 650.825 billion at the end of last year, a growth of 24.2%, within 3 months. Deposits in foreign currency were divided into demand deposits in dollars, which amounted to EGP 223.049 billion, time deposits and savings certificates worth EGP 585.323 billion by the end of March 2022.

The Central Bank of Egypt (CBE) headquarters, Cairo, Egypt. File Photo

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The Central Bank of Egypt (CBE) announced the suspension of work in banks operating in the market  Thursday; on the occasion of the celebration of the anniversary of the January 25 revolution and Police Day.

CBE added that work in banks will resume as of Sunday, January 30.

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The Egyptian Stock Exchange also announced the suspension of work on the anniversary, adding that it will resume its activity next week on Sunday.

Tags: BanksStock Exchange to Take Official Leave on Jan. 25البنوك والبورصة المصرية عطلة رسمية الخميس المقبل بمناسبة 25 يناير وعيد الشرطة

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