LE5.5B withdrawn from NBE last week: Chairman

CAIRO – 25 June 2017: Around 3.5 million cash withdraw transactions were completed through National Bank of Egypt (NBE) automated teller machine (ATM) during last week, NBE chairman Hisham Okasha said Sunday.

Over five days before Eid al-Fitr holidays, a total value of LE 5.5 billion has been withdrawn, Okasha told Egypt Today.

NBE’s financial import transactions and letters of credit (LoCs) have been valued at $9 billion since the flotation of the Egyptian pound in November. Around $25 billion has been paid in value of LoCs and more than $10 billion LoCs have been opened in the banking sector since that period.