Regulatory Alerts2014-11-19
Amending the instructions for banks conducting subscription operations on behalf of some entities issued on September 24, 2014
Cairo, November 19, 2014: Dr. Hesham Okasha, CEO and Chairman of the Faisal Islamic Bank of Egypt, informed that the instructions issued pursuant to Governor's Regulation No. (6) dated September 24, 2014 regarding banks' receipt of public funds will still be applicable for the ordinary accounts only, with the exception that this does not include establishment and increase of capital of closed companies. He requested everyone's cooperation and respectfully, Jamal Nageh.
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