2018-05-23

A circular dated May 22, 2018 regarding the need for banks to ensure that associations obtain a license to collect donation funds before opening accounts for them.

On May 22, 2018, a letter was sent to the Chairman of the Board of a bank, urging him to ensure that any associations listed by the bank as eligible recipients of customer donations have obtained the necessary license for fundraising from the Ministry of Social Solidarity. This is in accordance with the Law No. 70 of 2017 regulating the work of associations and other institutions operating in the field of civil work. The letter requests the Chairman to take necessary action in this regard.

Egypt

Central Bank of Egypt

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