United Bank Opens new Account to Support ‘Long Live Egypt Fund’

In a quick response to the initiative launched by the Egyptian President and the central bank, the United Bank announced today the opening of a new bank account in favour of “Long Live Egypt Fund” to support national economy.

Governor of the Central Bank Hisham Ramez announced Monday the opening of a new bank account under the number 037037, a reference to the date on which President Abdel Fattah al-Sisi declared the ouster of former president Mohamed Morsi.

The account is known as the “Long Live Egypt Fund”, borrowing from Al-Sisi’s election campaign slogan, and has been set up to collect donations from Egyptian citizens and expatriates to support the economy.

From the same respect, Mohamed Ashmawy – chairman of the United Bank – said the donations will be sent to the Central Bank of Egypt (CBE) to support the Long Live Egypt Fund’s plans to help the country’s ailing economy.

The Egyptian official further referred that the United Bank is currently preparing an intensive nationwide and worldwide advertising scheme under the slogan “As far as your love for Egypt, Contribute to Long Live Egypt Fund”

The United Bank’s new account to support the national economy will be effective soon, he noted.

United Bank’s customers in Egypt willing to support the national economy can use any of the bank’s 48 branches across the country. For the expatriates, they can resort to one of 60 money transfer services companies that deal with the United Bank, notably MoneyGram Company, the second largest money order supplier.

Egyptian President al-Sisi announced Tuesday he would donate half of his monthly salary and half of his wealth and property, which he would cede “to Egypt”.

The remarks came during a speech at a graduation ceremony for a new group of students from the National Military Academy, in which he also called on Egyptians to avoid extravagance during the month of Ramadan.