Banks warn of fraud BANKS operating in Egypt have sent text messages to their customers, warning them of fraudulent practices they could be exposed to as a result of disclosing their account data. The warning came after a number of Banque Misr customers discovered that large sums of their deposited money were illegally withdrawn. The victims' accounts were accessed after getting phone calls from unknown fraudsters claiming to be bank employees asking them about certain codes and passwords. Banque Misr confirmed that it followed all precautionary measures to protect its clients from fraud and claimed full responsibility for any stolen funds. The bank halted electronic transactions from bank accounts to prepaid Meeza cards. Banque Misr Chairperson Mohamed Al-Etrebi said 13 fraud cases in which LE2.7 million had been stolen were recorded. "However, we assure citizens that their money is safe and that they should not be concerned," Al-Etrebi said. The prosecution has opened an immediate investigation into the incident, the first of its kind.
New green buses EGYPT on Friday introduced its first green microbus running on natural gas. Approximately 300 such buses will start running every month, Finance Minister Mohamed Maait said, adding that the initiative to replace aging vehicles with those running on natural gas has cost the state treasury LE92.8 million. So far, 31,000 people have signed up to trade their old vehicles for the latest technological four-wheelers. Iron, rubber, plastic and fiber parts of the vehicles will be recycled and funneled into other industries, according to Maait. Since the launch of the initiative in April, 4,508 private cars, 102 taxis and 91 minibuses — the manufacture date of which dates back to 2001 or earlier — have registered under the plan. By means of the initiative, owners of old cars wishing to replace their vehicles with environment-friendly vehicles will be offered a plan that equals 10 per cent of the price of the new car. The incentive is doubled for taxis. Microbus owners can reach 25 per cent of the new vehicle price. *A version of this article appears in print in the 26 August, 2021 edition of Al-Ahram Weekly
