Regulatory Alerts2013-07-07
Opening account No. 306/306 in the name of Egypt Support
Dear Esteemed / Chairman of the Board, I would like to express my appreciation for your excellent service and commitment towards supporting our national banks. I would also like to thank you for your cooperation in achieving the targets set by Egypt's Central Bank (CBE) in coordination with international organizations. The Egyptian Central Bank has recently accomplished the following: 1. No deductions from interest earned or any fees were made on incoming transfers to the aforementioned account. 2. Maintaining a net balance for the domestic and foreign banks without deducting any interest earned or fees on incoming transfers within their accounts. 3. Completely covering the CBE's obligations under the agreement signed with international financial institutions (SWIFT), which amounts to EGP 360 billion by November 4, 2020, and has facilitated the completion of the country's economic program. I would like to express my sincere thanks for your unwavering dedication and support, and I look forward to continuing this successful collaboration with you in the future. Sincerely, Jamal Naguib