2017-01-16

A circular letter dated January 11, 2017 amending the conditions for listing “supportive loans (deposits)” in accordance with the instructions of the capital adequacy standard.

On January 11, 2017, the Egyptian Central Bank issued a letter to the Chairman of a bank, referencing previous instructions from December 24, 2012, regarding the minimum standard for capital adequacy in accordance with the Basel Accords. The letter notes that international institutions and multilateral development banks are interested in providing supportive loans to Egyptian banks, allowing them to enter the Egyptian market and inject foreign currency resources. The Central Bank's Board of Directors has decided to amend paragraph 6/2/3/2 of the instructions to banks regarding the minimum standard for capital adequacy, specifying the conditions for supportive loans or deposits.

Egypt

Central Bank of Egypt

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