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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Bank
Dear Professor/Chairman of the Board of Directors Bank.

Greetings and best regards.

Cairo, November 30, 2025

With reference to the circular issued on September 19, 2024, regarding the "Instructions for Governance and Internal Control."

For banks," please be informed that the Board of Directors of the Central Bank approved in its meeting held on November 23, 2025, the amendment of.

The following two clauses of item (2-5) pertaining to Board of Directors meetings to be as follows:

Clause (2-5-1): The Board must meet regularly at least six times a year, provided that.

The actual attendance is not less than four times, upon the invitation of the Chairman of the Board, or a majority of its members, and the CEO.

The Managing Director of the bank may request the Chairman of the Board to invite him to convene, provided that it is accompanied by an agenda.

Of the business he wishes to present.

Clause (2-5-4-2): The default is physical attendance of members, and in case of impossibility, participation may be allowed via.

Video or telephone after notifying the Chairman of the Board and informing the Secretary of the Board, taking into account the attendance of a majority of the members.

The Board of Directors physically.

Please take the necessary measures to fully comply with the above.

Please accept our highest regards.

Hassan Abdallah

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Source: Central Bank of Egypt — original document

Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works