Egyptian Banks Not Hurt By Frequent Power Outages

Most bankers said that the frequent power outages occurred since the hot summer months began did not affect the banking sector in Egypt as all banks have electric converters which made the banks resume its work amid power outages.

The Central Bank of Egypt (CBE) conditions on new banks to acquire electrical converters or batteries so as to resume their transactions amid power outages. Each bank has an emergency plan in case of power outage, sources said.