EGX follows CBE announcing Jan. 1 as official holiday

CAIRO – 27 December 2018: The Egyptian Exchange (EGX) announced that the bourse will be off on Tuesday, January 1, on the occasion of the banks’ holiday.

The Central Bank of Egypt (CBE) announced Wednesday that banks operating in Egypt will be off on Tuesday, January 1, on the occasion of the end of fiscal year for most of the banks on December 31.

Both institutions clarified that work will resume on Wednesday, January 2.

CBE announces 1st day of 2019 off for banks

CAIRO - 25 December 2018: The Central Bank of Egypt (CBE) announced that banks operating in Egypt will be off on Tuesday, January 1, on the occasion of the end of fiscal year for most of the banks on December 31. CBE added in a statement that work will resume on Wednesday, January 2.

Last official holiday for EGX and banks in Egypt was for the occasion of Al-Mawlid al-Nabawi al-Sharif on November 20. Al-Mawlid is a celebration of the birthday of Prophet Mohamed which is commemorated in Rabi' al-awwal, the third month in the Islamic calendar.

The Egyptian Exchange (EGX) reverted to the green zone by the end of Wednesday’s session after being colored by red for three consecutive session, and market capitalization gained LE 7.69 billion, amid Arab purchases.

The indices marked a collective rise as: EGX30 rose 1.34 percent, EGX50 hiked 1.32 percent, EGX70 increased 0.39 percent, and EGX100 inched up 0.71 percent.