2012-05-09

Reducing the reserve ratio from 14% to 12%

In a letter dated March 22, 2012, the Central Bank of Egypt's Assistant Governor, Gamal Negm, informs the Chairman of the Board of Directors of a bank that the Central Bank's Board has decided to reduce the reserve requirement ratio by 2%, from 14% to 12%, effective from the reserve period starting April 17, 2012. This decision is part of the Central Bank's ongoing efforts to support the banking sector during the challenging period faced by the country.

Egypt

Central Bank of Egypt

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