Egypt central bank says banks liquid for Sunday reopening
CAIRO, Feb 2 (Reuters) - Egypt's central bank reassured investors that the country's banks will have enough funds to deal with a possible run when they reopen on Sunday after a week-long closure caused by anti-government protests.
Bankers have warned that investors and Egyptians, spooked by protests that have closed down much of the economy since they broke out on Jan. 25, will seek to send funds abroad or convert them into cash.
"We are expecting that transfers out of the country and dollarisation will be unprecedented," said a treasury dealer at a medium sized bank in Cairo.
"Bank runs are the major concern -- whether the banks will have enough cash in their branches to pay depositors. You should expect long queues," he said.