Regulatory Alerts2024-07-02
A circular dated July 2, 2024 regarding the periodicity of reviewing internal policies in banks
In a letter dated July 2, 2024, the Chairman of the Board of a bank in Cairo, Egypt, Mr. Hassan Abdullah, refers to the Bank Governance Instructions issued on August 23, 2011. The letter communicates a decision made by the Central Bank's Board of Directors on June 25, 2024, regarding the review and update of internal bank policies and associated work procedures every three years. Mr. Abdullah requests adherence to this decision, emphasizing the importance of ensuring that any revisions are approved by the Board of Directors.