The Central Bank of Egypt (CBE) has returned $500 million to Qatar on Monday. A deposit worth $500 million had been returned by Egypt to Qatar in November 1, a high level banking official told Youm7 newspaper.
In October, CBE Governor Hisham Ramez said that Egypt would return $1 billion deposit to Qatar over the coming two months. He added that this amount is divided into two deposits worth $500 million each and that Doha refused to renew their maturity after they came due. In an exclusive to Youm7 gazette, Ramez added that the first deposit will be return on November 3, while the second one will be returned on December 3, 2013. Ramez had also said in September that Egypt refunded $2 billion to Qatar, which had been sent by the latter to Egypt as a short-term deposit. Qatar was one of the few Arab states to support Egypt during President Mohamed Mursi's one year in office but ties have deteriorated since the army deposed Mursi on July 3 following mass protests against his rule.
In October, CBE Governor Hisham Ramez said that Egypt would return $1 billion deposit to Qatar over the coming two months. He added that this amount is divided into two deposits worth $500 million each and that Doha refused to renew their maturity after they came due. In an exclusive to Youm7 gazette, Ramez added that the first deposit will be return on November 3, while the second one will be returned on December 3, 2013. Ramez had also said in September that Egypt refunded $2 billion to Qatar, which had been sent by the latter to Egypt as a short-term deposit. Qatar was one of the few Arab states to support Egypt during President Mohamed Mursi's one year in office but ties have deteriorated since the army deposed Mursi on July 3 following mass protests against his rule.
Source:
Mubasher
