Banks To Secure Tahreer Branches On Protests’ Return

Heads of Egyptian banks with branches in Tahrir and other vital squares are worried after the demonstrations have erupted again after deposed president Hosni Mubarak and the former minister of interior Habib Al-Adly were sentenced to life imprisonment and Mubarak’s sons and Al-Adly’s assistants were found not guilty.

Banking sources said that many banks plan to close their branches in Tahrir if million-man marches and violent clashes return to the square in wary of possible damages that may happen to these branches as many of banks and ATMs were damaged and stolen amid turmoil and clashes.

Alex Bank Intesa Saopaolo has set a high-level plan to secure its branches and ATMs amid crises and sit-ins, said Sherif Lokman, head of branches at Alex Bank, adding that the Bank’s 200 branches will be open tomorrow in regular working hours.

Alex Bank has not decided yet whether its branch in Tahrir Square will be open tomorrow or not, depending on the developments of the incidents there.

Arab African International Bank has taken precautionary procedures in the last period to secure its 50 branches after the increase in robberies and protests, said Amr Abdelal, head of branches at AAIB, adding that the Bank may close its branch in Qasr El-Nil nearby to Tahrir Square if violence returned to the region again.