Cairo – Mubasher: The Central Bank of Egypt (CBE) shut down a single foreign exchange bureau and suspended six other offices for manipulating the prices of foreign currencies, according to Middle East News Agency (MENA).
The license of Print exchange office was revoked for repetitively violating the currency market regulations, a source at the central bank told MENA.
Moreover, the bank has stopped the activity of El Gomhoria, Mirage, Al Sabah and Al Farouk exchanges for a one year, while Abramco and Al Dyana Exchanges has been interrupted for six months, the news agency added.
The central bank has thus revoked the license of 24 bureaus and suspended 16 office for a relative array of violations, MENA clarified.
Based on the central bank’s data, there are 111 exchange bureaus operating in Egypt.
