All investigated transactions are correct, allegations are unfounded: CIB

Mohamed Samir
1 Min Read

The Commercial International Bank (CIB) released a press statement on Saturday stating that after the bank conducted a comprehensive internal investigation, they found that all banking operations within the bank were carried out in accordance with the banking procedures and rules.

Moreover, according to the statement, all objected transactions were examined and found correct, and the circulated allegations that one of the bank’s employees seized money from the account of the complaining client are unfounded.

The CIB stated that all documents related to the aforementioned transactions are consistent with the internal regulations stipulated in the bank’s charters and operating procedures, as well as the Central Bank of Egypt’s instructions. The bank will notify, on Saturday, the complaining client to visit the bank’s headquarters to receive a formal response to his objections.

Earlier on Thursday, the CIB released a press statement indicating that they had received a complaint from a client regarding a discrepancy in his account statement.

Furthermore, the bank indicated that they will also inform the concerned regulatory authorities about the investigation’s results, giving them the chance to check all documents related to the issue in order to ensure that the client’s objections are incorrect.

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Mohamed Samir Khedr is an economic and political journalist, analyst, and editor specializing in geopolitical conflicts in the Middle East, Africa, and the Eastern Mediterranean. For the past decade, he has covered Egypt's and the MENA region's financial, business, and geopolitical updates. Currently, he is the Executive Editor of the Daily News Egypt, where he leads a team of journalists in producing high-quality, in-depth reporting and analysis on the region's most pressing issues. His work has been featured in leading international publications. Samir is a highly respected expert on the Middle East and Africa, and his insights are regularly sought by policymakers, academics, and business leaders. He is a passionate advocate for independent journalism and a strong believer in the power of storytelling to inform and inspire. Twitter: https://twitter.com/Moh_S_Khedr LinkedIn: https://www.linkedin.com/in/mohamed-samir-khedr/