Egypt’s interbank market will “be a liquid market” when it resumes operations after security is restored, Deputy Central Bank Governor Hisham Ramez said.
Banks will be closed tomorrow and the Cairo-based central bank will evaluate the security situation on a daily basis to decide when the lenders will reopen, he said in a phone interview today. “Banks are very liquid,” Ramez said. “The interbank market ‘‘will function and will function properly. All needs will be covered.’’
To contact the reporter on this story: Alaa Shahine in Cairo at firstname.lastname@example.org
To contact the editor responsible for this story: Shaji Mathew at email@example.com