Suez Canal project investment certificates available in Egyptian pounds only

(Before It's News)

The investment certificates which the government of Egypt will issue to finance a project to extend the Suez Canal will be denominated in Egyptian pounds only, the governor of the Central Bank of Egypt (CBE) said on Sunday.

Speaking at a press conference, Hisham Ramez explained that Egyptians living abroad will be able to buy the certificates in Egyptian pounds through local banks with ties to the issuant banks in Egypt.

Earlier this month, Egypt started digging a 72 kilometre-long waterway parallel to the Suez Canal, with the aim of increasing the capacity of the vital international shipping route …. http://english.ahram.org.eg

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