Egyptian stock exchange and banks will close on Sunday to mark the occasion of Moulid El-Nabi, the Prophet Muhammad’s birthday, according to the Central Bank of Egypt.
The prophet was born on the 12th day of Rabi Al-Awwal, the third month of the Islamic lunar calendar, which falls on Saturday, already a weekend day in Egypt.
The country’s stock exchange will also close for the holiday on Sunday, an official told state news agency MENA on Monday.
Earlier this week, the cabinet said that Sunday will be a paid holiday for the public sector and government employees to mark the holiday.
Also, the minister of manpower said earlier that Saturday will be a paid day off for the private sector.
The Moulid is celebrated by Muslims across the world, and in Egypt, traditional sweets are sold to mark the holiday.
Source: Ahram online
