NBE: Stocking ATM with Cash, Withdrawals Rates Going Normally

Mohamed Ihab, head of transaction banking group at National Bank of Egypt (NBE), revealed that the bank’s Automated Teller Machines (ATM) shall be stocked with cash all over Egypt; noting that NBE owns 1500 ATM in Egypt.

Mohamed Ihab, in exclusive statements to Amwal Al Ghad, pointed out that the withdrawal rates are going normally. He also explained that the congestion on the ATM is due to Ministry of finance’s decision of early payment of the salaries during the current month. He assured that banks are still the safest place for people savings.

Mr.Ihab stated that NBE shall continue stocking ATMs with cash till next Saturday with the anticipation of the outcomes of next Sunday. Subsequently NBE shall identify the ATMs in which the bank will continue to stock it, in the light of the fear from robbery on money transport vehicles or sabotaging the ATMs.

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He added that during the period of 25th January 2011 revolution there were 25 ATMs were destroyed whereas each of which cost EGP 150-250 thousands. He calls upon the citizens to express their opinions peacefully without committing any acts of violence in which damage any facilities.

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