Regulatory Alerts2009-01-01
Central Bank of Egypt Board of Directors Resolution No. 66 of 2009 (Updated 2023) Regarding the Development Levy on Regulated Companies
The Central Bank of Egypt mandates regulated financial entities to pay a development levy calculated as a specific percentage of their gross revenues from supervised activities. Companies must submit audited financial statements and pay the levy within 45 days of the fiscal year-end, with daily interest applied to late payments based on central bank rates. The collected funds are strictly allocated to modernizing regulatory systems, enhancing market infrastructure, and improving the capacity of the Authority and market participants.
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