Regulatory Alerts2014-11-19
Amending the instructions for banks conducting subscription operations on behalf of some entities issued on September 24, 2014
In a letter dated November 19, 2014, the author addresses the Chairman of the Board of Directors of a bank, referring to regulatory instructions issued by the Governor of the Central Bank of Egypt on September 24, 2014, regarding banks' handling of subscription processes on behalf of certain entities. The author clarifies that these instructions apply only to public subscription processes and do not include the establishment or increase of capital for closed companies.
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advisory