Regulatory Alerts2024-07-02
A circular dated July 2, 2024 regarding the periodicity of reviewing internal policies in banks
The Central Bank of Egypt (CBE) will hold its Board of Directors meeting on July 2, 2024, according to instructions issued by the Banks Supervisory Authority dated August 23, 2011. These guidelines included requiring banks' Boards to periodically review their internal policies every three years at most and update them if necessary, under the supervision of the Banking Supervision Authority, and also updating operational procedures whenever deemed appropriate. The Central Bank has requested compliance with this decision and appreciates your high regard.