Last Night’s Talk Shows: New foreign withdrawal limits + More on privatization
New foreign withdrawal limits imposed by some local banks headlined last night’s talk shows. Veteran banker Sahar El Damaty urged people to rationalize their USD use as the state works to secure FX assets in a phone call with Kelm Akhira (watch, runtime: 4:04), pointing the finger at those who withdraw excessive amounts while abroad to sell later through the black market. First Abu Dhabi Bank Egypt’s head of personal banking, Mariam Elsamny, also joined Kelma Akhira to explain why the bank has lowered its withdrawal limits (watch, runtime: 4:20). We break down the new withdrawal limits in this morning’s Banking section, above.
Economists call for more private sector participation: The state needs to exit sectors where its participation gives it an unfair advantage, economic analyst Hany Geneina told Al Mowagha (watch, runtime: 0:24). The private sector hasn’t been investing in the country as much as it once did and current conditions are to blame, Edita CEO Hani Berzi said (watch, runtime: 0:35 | 0:21). “It’s not the state’s role at all to work in certain sectors,” Berzi said, without elaborating. The Madbouly government is expected to lay out its state ownership policy — a roadmap for large-scale privatization of the economy — at the economic conference planned for the end of this month.
FACT CHECK- Shipping firms haven’t been looking at alternative routes to the Suez Canal after the Suez Canal Authority (SCA) said it will hike transit fees by 15% next year, the authority said in a statement. Al Hayah Al Youm had the story (watch, runtime: 2:51).