Hundreds of Egypt bank employees demonstrate against board decisions

Ahram Online, Sunday 28 Jul 2013

Protesting employees of public-owned Misr Bank call for strike, demonstration on Monday against restructuring plan

Employees Demonstrating
Employees Demonstrating at main branch of Misr Bank (Photo: Ahram Online)

A few hundred employees of the oldest national Egyptian bank, Misr Bank, gathered on Sunday at the main branch in downtown Cairo to call for the chairman to reverse his decisions to restructure the organisation and for his dismissal along with the board.

The employees started an online campaign titled Rebel (Tamarod) built on the spirit of the Rebel movement that called for nationwide protests and led to president Mohamed Morsi's ouster. It gathered momentum after board chairman Mohamed Kamal El-Din Barakat decided last Thursday to restrict job categories "in a way that would slow down promotion eligibility and pay raises", claim the protesters.

"The decisions include employment restructuring, which affected the entire bank's hierarchy", an employee who asked to remain anonymous told Ahram Online.

After the bank closed Sunday afternoon, the employees, including some from other branches throughout Cairo, called for a spontaneous demonstration. Many chanted, holding banners that read  "leave" and "invalid."

The protesting bank employees have also called for a strike and are planning to demonstrate on Monday at 9am in front of the bank building.

Mohamed Kamal El-Din Barakat, the current Chairman of the Board of Directors of Misr Bank was appointed to his current position in September 2011 during Essam Sharaf cabinet and Supreme Council of the Armed Forces (SCAF) rule. He was also elected as head of the Union of Arab Banks in April 2013.

Search Keywords:
Short link: