Regulatory Alerts2020-11-18 | CBE6.1CBE Regulation Book 6.1 - Concepts Items Of Financial Position Data And Basis Of Its Preparation
Banks must submit monthly financial statements and analysis tables of assets, liabilities, business sectors, and economic activity sectors to the Central Bank of Egypt within eight days of the end of the reporting month. The data must be audited by the bank's financial department to match the bank's records. Banks must also provide the names and contact information of their financial managers to the Supervision and Control Sector for reference. The financial statements should be submitted on time and without subsequent modifications; non-compliance may result in penalties outlined in the Central Bank and Banking System Law No. 88 of 2003 and the June 2009 decision by the Central Bank's Board of Directors regarding amended financial penalties for banks violating credit registration regulations.