Regulatory Alerts2025-11-30
Added · Updated
Amendment to Governance and Internal Control Instructions for Banks Regarding Board of Directors Meetings
The Central Bank of Egypt amends clauses (2-5-1) and (2-5-4-2) of the Instructions for Governance and Internal Control for banks. Clause (2-5-1) requires the Board of Directors to meet at least six times annually, with actual attendance at no fewer than four meetings, and allows the Managing Director to request a meeting with a specific agenda. Clause (2-5-4-2) establishes physical attendance as the default, permitting video or telephone participation only if a majority of members are physically present and after notifying the Chairman and Secretary.
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