Egypt’s Interbank Market Will Be ‘Liquid’ When Operations Resume

Jan. 30 (Bloomberg) -- 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 asalha@bloomberg.net

To contact the editor responsible for this story: Shaji Mathew at shajimathew@bloomberg.net