2017-10-04

Circular dated October 3, 2017 regarding increasing the reserve ratio from 10% to 14%

In a letter dated October 3, 2027, addressed to the Chairman of the Board of Directors of a bank, the writer, Jamal Najem, communicates a decision to increase the reserve ratio that banks must maintain with the Central Bank of Egypt from 10% to 14%. This decision is effective starting the reserve ratio period that begins on October 10, 2027, and is calculated based on the average balances from September 7, 2027, onwards. The letter also mentions that previous decisions made by the Board of Directors of the Central Bank of Egypt on this matter remain in force.

Egypt

Central Bank of Egypt

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