2021-01-04

A circular dated January 4, 2021 regarding operational risk management instructions

The Central Bank of Egypt has issued instructions for the management of operational risk, which are mandatory for all banks operating in Egypt. The instructions include definitions, qualitative and quantitative requirements, and a standard approach for measuring operational risk. Banks are required to establish an independent unit for managing operational risk and to implement policies and procedures for identifying, measuring, monitoring, and mitigating such risks. The instructions also outline disclosure requirements and outline the calculation of capital requirements to cover operational risk.

Egypt

Central Bank of Egypt

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