CBE Denies Freezing Banks’ Deposits

The Central Bank of Egypt (CBE), has asserted that the news which circulated on some websites regarding the freeze of CBE’s deposits are invalid.

CBE added in a statement that what were circulated are just a rumors so as to shook the confidence of the Egyptian economy.

The News circulated on some social networking websites such as Facebook and Twitter, asserting that CBE and Finance Ministry will provide a propose for the presidency by freezing the Egyptian assets in the banks for 3 months due to the economic and Financial deterioration, but the CBE denied that.

The total deposits of the banking system customers , including the governmental deposits recorded a jumping around EGP 10 billion, move up to EGP 1.169 trillion in May 2013 compared to EGP 1.159 trillion in April of 2013, according to CBE’s latest reports.