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All investigated transactions are correct, allegations are unfounded: CIB - Daily News Egypt

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All investigated transactions are correct, allegations are unfounded: CIB

The Commercial International Bank (CIB) released a press statement on Saturday stating that after the bank conducted a comprehensive internal investigation, they found that all banking operations within the bank were carried out in accordance with the banking procedures and rules. Moreover, according to the statement, all objected transactions were examined and found correct, and …


The Commercial International Bank (CIB) released a press statement on Saturday stating that after the bank conducted a comprehensive internal investigation, they found that all banking operations within the bank were carried out in accordance with the banking procedures and rules.

Moreover, according to the statement, all objected transactions were examined and found correct, and the circulated allegations that one of the bank’s employees seized money from the account of the complaining client are unfounded.

The CIB stated that all documents related to the aforementioned transactions are consistent with the internal regulations stipulated in the bank’s charters and operating procedures, as well as the Central Bank of Egypt’s instructions. The bank will notify, on Saturday, the complaining client to visit the bank’s headquarters to receive a formal response to his objections.

Earlier on Thursday, the CIB released a press statement indicating that they had received a complaint from a client regarding a discrepancy in his account statement.

Furthermore, the bank indicated that they will also inform the concerned regulatory authorities about the investigation’s results, giving them the chance to check all documents related to the issue in order to ensure that the client’s objections are incorrect.

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