Amending some provisions of the decision regarding the maximum limits of the bank’s investments with a single client, the client and parties associated with him — CBE — EG

Mr. Professor / Chairman of the Board of Directors at the Bank

Greetings and after,

I would like to refer to the decision of the Board of Directors of the Central Bank of Egypt No. (305) at its meeting held on February 7, 2006, regarding the maximum limits for the Bank's investments with a single client and the parties associated with him.

I am honored to inform you that the Board of Directors of the Central Bank of Egypt has decided at its meeting held on August 4, 2009, the following:

The repeal of the application of Paragraph Five of the decision of the Board of Directors of the Central Bank No. (305) at its meeting held on February 7, 2006, regarding the maximum limits for the Bank's investments with a single client and the parties associated with him.
The continuation of the application of the remaining paragraphs of the decision to all credit rating grades, including categories (1, 2).
Granting banks a compliance period ending on 31/12/2009. Please be so kind as to alert regarding the full compliance with what was stated in the Council's decision mentioned above, effective from the date of this letter.

Accept the highest respect,

Gamal Najm

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Amends

Decision No. 305 dated 2006-02-07Not in RegAlert
“The repeal of the application of Paragraph Five of the decision of the Board of Directors of the Central Bank No. (305) at its meeting held on February 7, 2006”