It does not
seem so long ago that Egyptians were all so fired up over the prospect of
building a new Suez Canal that they managed to come up with EGP64 billion in a
mere eight days to finance it. But even more amazing was the fact announced by
Hisham Ramez, Governor of the Central Bank of Egypt (CBE), that some EGP27
billion of the total sum raised had come from outside the banking sector,
meaning that Egyptians had dug into their personal savings to finance the
project. That was less than a year ago, when the CBE issued investment
certificates to raise funds for the mega project, and they sold out in a few
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