The Central Bank of Egypt (CBE) decided to close Egyptian and international banks on Wednesday and Thursday due to a wave of labor protests.
According to a state-run TV broadcast on Tuesday, the CBE did not clarify whether banks will reopen next week or not.
CBE shut banks on Monday and Tuesday after workers, including bank employees, began staging localized protests in the wake of the 25 January revolution which toppled former President Hosni Mubarak’s regime. Most are demanding better wages and working conditions.
The Egyptian stock market administration decided on Monday to extend its trading moratorium until next week due to the irregular banking schedule. The stock market has suspended trading since 31 January due to the nationwide protests.
