2016-03-07

Circular dated January 11, 2016 regarding the third amendment to the instructions for money market funds

In a letter to the Chairman of the Board of Directors of a bank, the writer refers to a previous communication from the Central Bank of Egypt regarding amendments to the regulations for Money Market Funds. The Egyptian Central Bank's Board of Directors has decided to modify the instructions, including setting a maximum limit on the total amount of funds that can be invested in Money Market Funds and Fixed Income Funds. The letter emphasizes the importance of ensuring that only the bank's clients subscribe to these operations and requests the bank to halt the issuance of new investment documents until compliance with these limits is achieved.

Egypt

Central Bank of Egypt

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