2018-06-25

A circular dated June 24, 2018, in addition to the circular regarding opening accounts for private labor associations.

In Cairo, June 24, 2018: Dr. Al-Ashtar, Chairman of the Bank of Egypt and the Executive Director of the United Nations Development Programme (UNDP), stressed on the need for banks to ensure that civil society organizations (which employees can donate to) have the license to collect money from the authorities concerned in compliance with the provisions of Law No. 70 for the year 2017, which gives them the right to request approval from the competent authorities. To provide accounts for these organizations through which donations are collected only after obtaining the necessary licenses from the relevant authorities. He stressed on the importance of taking the necessary steps in this matter and requested their highest respect.

Egypt

Central Bank of Egypt

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