2021-09-02

Circular dated September 2, 2021 regarding instructions for recovery plans

The Central Bank of Egypt has issued instructions for banks to develop recovery plans to enhance their resilience and ability to respond effectively to potential economic or financial pressures. The plans aim to ensure the stability and safety of the Egyptian banking sector by addressing potential financial challenges and maintaining liquidity and profitability. Banks are required to submit their first recovery plan within 90 days of the 2022 financial year-end. The plans should include a strategic analysis of the bank, key performance indicators, recovery options, and stress test scenarios.

Egypt

Central Bank of Egypt

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