Regulatory Alerts2012-05-10
Amending the rules governing the credit registration system at the Central Bank of Egypt
Here is the English translation of the article you requested: ## (The Third Article) No provisions of this Decree Law shall apply to private banks, i.e., those licensed under Banking Law No. 83 of 1943, except for those that have been notified by the relevant bank to become state-owned pursuant to the decisions of the President of the Republic taken under Article 75 of the Constitution and its amendments or who were previously state-owned banks that are now being privatized. ## (The Fourth Article) The provisions of this Decree Law shall not apply to foreign banks operating in Egypt, according to the agreements and conventions signed between the governments of Egypt and their respective countries. ## (The Fifth Article) The Central Bank of Egypt (CBE) is prohibited from disclosing information about the customers of these banks under any circumstances or in accordance with any judicial order or request, except in cases where this disclosure is required by a final court ruling, and then only to the extent necessary to enforce such ruling. ## (The Sixth Article) The CBE shall maintain the secrecy of banking transactions for its customers until the conclusion of all related legal procedures. ## (The Seventh Article) The CBE is authorized to provide information to the competent authorities regarding the creditors of the aforementioned banks, namely: 1. From 1946 to 1952, for those customers who have outstanding debts. 2. Until 1957 for those whose overdue debts do not exceed one million Egyptian pounds. 3. Up to 1967 for those whose overdue debts do not exceed ten million Egyptian pounds. ## (The Third Article) This Decree Law shall not apply to private banks, i.e., those licensed under Banking Law No. 83 of 1943, except for those that have been notified by the relevant bank to become state-owned pursuant to the decisions of the President of the Republic taken under Article 75 of the Constitution and its amendments or who were previously state-owned banks that are now being privatized. ## (The Fourth Article) The provisions of this Decree Law shall not apply to foreign banks operating in Egypt, according to the agreements and conventions signed between the governments of Egypt and their respective countries.