Central Banking

Egypt cb opens new check clearing house

EGYPT - The new electronic Cairo Clearing House at the Central Bank of Egypt (CBE) was inaugurated yesterday. Its services will be available to banks nationwide and its computerized system will be capable of clearing up to 100,000 cheques a day.

After the opening ceremony CBE Governor Mahmoud Abul-Oyoun said that the new clearinghouse would shorten the time for drawing one cheque to one day for central Cairo banks and just a few days in other parts of the country. The period was previously 20-

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