Egypt bans circulation of currency with text phrases

CAIRO – 4 March 2019: The Central Bank of Egypt (CEE) banned the circulation of any paper currency with text phrases, according to Extra News' urgent report.

CBE stressed in the report that it does not accept any transactions.

The CBE, on behalf of the Ministry of Finance, issued LE 1.75 billion in treasury bonds on Monday, March 4.

The T-bonds were offered in two installments, with the first valued at LE 750 million with a seven-year term and the second worth LE 1 billion with a three-year term.