ECONOMY

Egypt c.bank tells banks to shut early ahead of army deadline

Egypt's central bank requested banks to close early today, ahead of the army deadline. (File photo: Reuters)

Egypt’s central bank has told banks to close their branches early and has advanced the time for a foreign currency auction, a banker said, ahead of an army deadline on Wednesday that could trigger a military takeover backed by protesters.

Banks must close their branches by 2:00 p.m. (1200 GMT) instead of the usual 5:00 p.m. The central bank will hold its currency auction at 10:30 instead of 11:00 and issue the result at 11:00 a.m. instead of 12:00 noon, the banker said.

The military has set a deadline of about 5:00 p.m. for President Mohamed Mursi to agree to a power-sharing deal with his rivals, an ultimatum that Mursi has rejected.

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Last Update: Wednesday, 3 July 2013 KSA 11:38 - GMT 08:38
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