- Title: EGYPT: Bank employees protest against corrupt managers and low pay
- Date: 14th February 2011
- Summary: CAIRO, EGYPT: (FEBRUARY 13, 2011) (REUTERS) VIEW OF BANK EMPLOYEES GATHERED OUTSIDE ALEXANDRIA BANK IN CENTRAL CAIRO EXTERIOR OF ALEXANDRIA BANK VARIOUS OF BANK EMPLOYEE PROTESTERS CHANTING SLOGANS CRITICISING THE GENERAL MANAGER OF ALEXANDRIA BANK, MAHMOUD ABDELLATIF A PIECE OF PAPER SHOWING THE MANAGER'S MONTHLY SALARY AND READING "Where is Justice?" (SOUNDBITE) (Arabic) STRIKING BANK EMPLOYEE, MOHIELDEEN AHMED, SAYING: "The salaries are very poor. It is a tyrannical management. The inequality is just like an offence." A STRIKING PROTESTER SHOUTING IN ARABIC: "Corrupted …corrupted" (SOUNDBITE) (Arabic) BANK EMPLOYEE, NASSR SAMIR, SAYING: "I'm demanding that the new government should investigate this corruption; illegal commissions, bribes, etc… the corrupted National Democratic Party sold the bank with only ten percent out of its value, because they (National Democratic Party) got commissions. We will conduct a strike here until we get our rights." EXTERIOR OF MISR BANK, A PUBLIC BANK NAME ENGRAVED ON FRONT OF BUILDING READING IN ARABIC "Bank Misr - a joint-stock company" BANK EMPLOYEE PROTESTERS SHOUTING AGAINST THE MANAGEMENT OF THE MISR BANK (SOUNDBITE) (Arabic) MISR BANK EMPLOYEE, MOHAMAD SAAD, SAYING: "The general managers are appointed by the sons of President Hosni Mubarak - Gamal Mubarak and Alaa Mubarak. They (the general managers) are being paid incredible salaries. They have obtained titles and positions illegally. Some of them being paid up to 750,000 (Egyptian pounds) per month. They are assigned to improve and to add value to us, but nothing happens." PROTESTERS SHOUTING
- Embargoed: 1st March 2011 12:00
- Keywords:
- Location: Egypt, Egypt
- Country: Egypt
- Topics: Domestic Politics
- Reuters ID: LVAA5HXYVE7IF1K0PKSRH1HW8TVY
- Story Text: Hundreds of employees of private and publicly-owned banks in Cairo went on strike on Sunday (February 13) to demand better pay and a change of the managers of the banks, who they say are corrupt.
Employees of the privately-owned Alexandria Bank and the public Bank Misr stood outside their places of work chanting: ''Corrupt, corrupt.'' One protester, Mohieldeen Ahmed, said the salaries which bank employees receive are too low compared with those of senior managers.
"The salaries are very poor. It is a tyrannical management. The inequality is just like an offence,'' he said.
Bank employee Nassr Samir demanded an investigation into the former ruling National Democratic Party (NDP)'s involvement in bank bribes.
"I'm demanding that the new government should investigate this corruption; illegal commissions, bribes, etc… the corrupted NDP sold the bank with only ten percent of its value, because they (NDP) got commissions. We will conduct a strike here until we get our rights," said Samir.
The Bank of Alexandria is one of Egypt's largest banks, with a market share of about seven percent.
It became the first fully state-owned bank to be privatised when it was sold to Italy's Intesa Sanpaolo in 2006.
The employees on strike say that managers of the big banks in Cairo are appointed by the former leader of NDP, Gamal Mubarak, who is the younger son of the ex-President Hosni Mubarak. Mubarak was forced to quit office on Friday (February 11), the 18th day of mass protests against him across the country.
"The general managers are appointed by the sons of President Hosni Mubarak - Gamal Mubarak and Alaa Mubarak. They (the general managers) are being paid incredible salaries. They have obtained titles and positions illegally. Some of them being paid up to 750,000 (Egyptian pounds) per month," said Mohamad Saad, another striking employee.
Over the last few days, many labour organizations and workers from several sectors went on strike demanding the improvement of their economic conditions. - Copyright Holder: REUTERS
- Copyright Notice: (c) Copyright Thomson Reuters 2011. Open For Restrictions - http://about.reuters.com/fulllegal.asp
- Usage Terms/Restrictions: None
