2020-03-17

A circular dated March 17, 2020 regarding participation in bank board meetings via video or telephone during the year 2020

In a letter dated March 17, 2020, the Chairman of the Central Bank of Egypt, Tarek Amer, addresses the Chairman of the Board of Directors of a bank, referring to the governance instructions issued in 2011 and 2018, and their amendments in 2019, regarding the periodicity of the Board's meetings. Due to the exceptional circumstances faced by the world, the Central Bank of Egypt has decided to allow certain exceptions regarding the frequency of Board meetings and the participation of members via telephone or video conference until the end of the current year. These exceptions include removing limits on the number of times a Board member can participate remotely and waiving the requirement for a physical majority attendance.

Egypt

Central Bank of Egypt

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