Regulatory Alerts2024-11-10
A circular dated June 12, 2017 regarding the requirements for appointing foreigners (non-Egyptians) in banks
Mr. Chairman of the Board of Directors, Bank, Greetings, I would like to inform you about the procedures for declaring and renewing the declaration of foreign individuals (non-Egyptians) according to Article 43 of the Central Bank and Banking System Law No. 88 of 2003, the instructions of the Central Bank of Egypt regarding the obligation of banks to declare and renew the declaration of their foreign customers, the letter of the Governor dated August 20, 2015, and the letter dated October 26, 2015, regarding the need for the bank to obtain the approval of the Central Bank of Egypt. In this regard, the bank is keen to adhere to the procedures for declaring and renewing the declaration of these individuals, and in this context, we would like to inform you of the following requirements: 1. A certified criminal record (CRD) from the country of origin or the countries where they have resided, certified by the Ministry of Foreign Affairs of Egypt. 2. A reference letter from the bank where they worked in the countries where they resided for at least 6 years. Yours sincerely, Tarek Fay