Arab Finance: The Central Bank of Egypt (CBE) announced that all banks operating in Egypt will be closed on Thursday, May 7th, on the occasion of Labor Day, as per a statement.
Banks are scheduled to resume operations on Sunday, May 10th.
Last week, Prime Minister Mostafa Madbouly declared the same day a paid holiday for employees across ministries, government departments, public authorities, local administration units, public sector companies, public business sector companies, as well as the private sector
Labor Day originally falls on Friday, May 1st, but in 2020, the government said it would move vacation days, except Eid Al-Fitr, Eid Al-Adha, and Coptic Christmas, to the end of the week, to give workers the chance to enjoy a long weekend.
