CBE denies plans to seize depositors' funds in return for real estate taxes

SHARM EL SHEIKH - 9 August 2018: The Central Bank of Egypt (CBE) denied on Thursday giving any instructions to seize depositors' funds in banks in return for real estate taxes.

The CBE did not take any decisions upon any instructions given by the Finance Ministry as regards the real estate taxes, Deputy CBE Governor Gamal Negm told reporters on the sidelines of meetings of the Association of African Central Banks.

As of Wednesday, social network websites began circulating rumors as regards CBE plans to seize bank clients' funds to get them pay real estate taxes.