Cairo Chamber raises capital of contingency fund to ten million pounds

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Wednesday - 24 April 2013 - 10:41 AM

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Mr. Ibrahim AlAraby-Cairo Chamber of Commerce declared that it will raise capital of  disaster protection

 

fund and contingency for traders from two million pounds to 13 million pounds to pursue commercial

 

activities cost rises and their risks in the country To be a monthly subscription of 255 pounds.

 

 

AlAraby also added during a meeting of the Chamber's board of directors that he addressed Mr. Hisham

 

Qandil Prime Minister and Mr. Morsi ElSayed Hijazi- Finance Minister, and Dr. Hisham Ramez, Central

 

Bank President that  the current dollar crisis and the need to find solutions for problems of trade and

 

economic consequences of the crisis.

 

 

It is noteworthy that Egypt is experiencing a period of political turmoil and security crisis since

 

the overthrow of former President Hosni Mubarak in a popular uprising early 2011; and these disorders

 

caused  the  slowdown in economic activities and often caused clashes accompanying the destruction

 

of all or part of the commercial enterprises which led to many of the risks faced by traders Because of

 

this security crisis and instability.