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Egypt’s banks, Stock Exchange to go on holiday on October 5

The Central Bank of Egypt will suspend work for all banks operating in Egypt on Thursday, on the occasion of Armed Forces Day on October 6.

The Central Bank explained on Monday that work will resume on Sunday, October 8.

In turn, the stock exchange management have also decided that Thursday will be an official holiday, with trading to resume on Sunday.


Egypt’s victory

The 6th of October War is a historic victory celebrated every year in Egypt.

In 1973, Egypt and Syria waged war against Israel after Israel occupied the Sinai Peninsula in Egypt, the Golan Heights in Syria and the Gaza Strip and West Bank which were under Jordanian rule at the time.

The war commenced on October 6 as part of a plan by late President Mohammed Anwar al-Sadat.

Egyptian forces crossed the Ber Lev Line, fortifications built by Israel along the Suez Canal, in six hours hours only using water cannons. The Syrian forces meanwhile destroyed Israel’s fortifications in the Golan Heights.

The war officially ended on October 24 with an agreement after a crushing defeat for the Israeli army.

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