VOL. XLVI

No 41

13-October-2003

EGYPT

REGIONAL BANKING

Government Issues Banking Directives As Egyptian Pound Remains Weak

The Egyptian Prime Minister, Atif 'Ubaid, issued directives at last weeks ministerial meeting, in an attempt to prop up the Egyptian pound, which has recently continued its slide against the dollar on the black market, and to address other economic and monetary problems. He said that the Central Bank of Egypt (CBE) would guarantee a daily supply of foreign currency to banks for...