On Sunday, the Central Bank of Egypt (CBE) denied ordering banks to stop dealing with lawyers, judges, police officers, and journalists, according to a release issued by the bank.
(DNE Photo)
The CBE said a newspaper published a news piece regarding a lawsuit filed by a lawyer to the Administrative Court of the State Council against CBE’s governor.
In the lawsuit, the lawyer demanded the cancellation of a decision that forbids banks from issuing credit cards to lawyers. It came within inclusive instructions to reduce dealing with certain classes of the society: notably lawyers, judges, police officers, and journalists.
The CBE denied the accusations and claimed that they were untrue.
According to the release, the CBE affirmed that it is not logical that the CBE would issue instructions that discriminate between citizens, as it is the entity in charge, constitutionally, of the safety of the banking and financial system.
The CBE added that all supervisory instructions are issued as per standard, financial and economic indicators, without considering any personal or categorical criteria.
According to the bank, all banks working in the Egyptian market offer all services as per the standards and credit controls guaranteeing safety of the depositors’ money.
The CBE requested that the media be accurate and objective in addressing news related to the Egyptian banking system, to maintain the sector’s performance and its role in serving the national economy during this critical stage.
Abdel Rahman Abdel Baset, Head of the Central Banking Operations Sector at the Housing and Development Bank, also denied any rules against dealing with certain professionals or the issuance of any instructions by the CBE on this matter.
Abdel Baset said that when banks grant credit or funds, they also inquire on the client’s capabilities to re-pay the amount, regardless of their profession.
