Last Update 13:43
Wednesday, 21 August 2019

Egypt's Morsi calls on citizens to support economy through donations

Finance ministry opens account at central bank for financial donations from citizens, expats with view to bolstering Egypt's foundering post-revolution economy

Ahram Online, Sunday 4 Nov 2012
CBE
Central Bank of Egypt (Photo: Reuters)
Share/Bookmark
Views: 1870
Share/Bookmark
Views: 1870

President Mohamed Morsi has called on citizens and Egypt-based expatriates to support the Egyptian economy with financial donations, the finance ministry announced Sunday.

According to a ministry statement, all donations can be deposited in a recently-opened government bank account (no. 333/333) at the Central Bank of Egypt (CBE) under name Nahdat Misr, or 'Egyptian Renaissance.'

In the event that public monies pilfered by members of the former regime are recovered from abroad, the ministry statement added, they too will be deposited in the same account.  

According to Finance Minister Momtaz El-Said, the new bank account "will go towards meeting the demands of many Egyptian businessmen to bolster the economy."

El-Said went on to stress that all deposits and withdrawals into and from the account would be monitored by several state agencies, including Egypt's Central Auditing Authority.

It is not the first scheme of its kind. In March of last year, the finance ministry opened a similar account at the CBE (account no. 25-01-2011) for citizens' financial donations.

It remains unclear, however, how many donations – or their value – were made to this initiative, as the CBE was unavailable for comment on the issue. 

Short link:

 

Email
 
Name
 
Comment's
Title
 
Comment
Ahram Online welcomes readers' comments on all issues covered by the site, along with any criticisms and/or corrections. Readers are asked to limit their feedback to a maximum of 1000 characters (roughly 200 words). All comments/criticisms will, however, be subject to the following code
  • We will not publish comments which contain rude or abusive language, libelous statements, slander and personal attacks against any person/s.
  • We will not publish comments which contain racist remarks or any kind of racial or religious incitement against any group of people, in Egypt or outside it.
  • We welcome criticism of our reports and articles but we will not publish personal attacks, slander or fabrications directed against our reporters and contributing writers.
  • We reserve the right to correct, when at all possible, obvious errors in spelling and grammar. However, due to time and staffing constraints such corrections will not be made across the board or on a regular basis.
5



mo
05-11-2012 11:19pm
0-
1+
rediculus
Pathetic and sad, never heard of such idiotic approach or seen it practiced. it is time for this government to get off their bums and start doing some serious work to help the poor, pegging is not a good sign. I rather give my money directly to the poor that deposite it in a bank controlled by some one i don't know and truthfully don't trust.that is what this people of egupt elected and you got to live with your decision and choices but to tell you the truth things will not improve we will just slide bak and further into the dark ages.
Email
 
Name
 
Comment's Title
 
Comment
4



amira
05-11-2012 03:23pm
0-
0+
where are you Hosni
Where are you Hosni, Brotherhood make us beggars
Email
 
Name
 
Comment's Title
 
Comment
3



free lady
05-11-2012 12:00pm
0-
1+
Is it best MB can do?
Mr. President started his tenure by begging. MB is basically a religious charity organization and all their history have been living on donations from home and abroad. But its shameful if they cant leave their habit of begging till now. If country need better to cut the expenses and follow austerity measures, put new taxes but not start begging in streets.
Email
 
Name
 
Comment's Title
 
Comment
2



shah's
05-11-2012 10:37am
1-
1+
hard work honesty
People of egypt should with honesty and dedication , time is not far away Egypt will economic super power inshallah
Email
 
Name
 
Comment's Title
 
Comment
1



Aladdin, Egypt
04-11-2012 04:42pm
0-
0+
Work, wirk, work, ...
Yes, we should all work and be honest and proud too. We need living-wages not slave ones.
Email
 
Name
 
Comment's Title
 
Comment
Latest

© 2010 Ahram Online.