2021-01-11

A circular dated January 11, 2021 regarding banks’ distribution of cash dividends in light of the continuing Corona crisis

In a letter dated January 11, 2021, the Central Bank of Egypt decided not to allow banks to distribute cash dividends from their profits or retained earnings to shareholders for the year 2020. This decision was made to support the banks' capital base and safeguard against potential risks arising from the ongoing COVID-19 pandemic. However, banks are permitted to distribute bonuses to employees and pay out board of directors' compensation for the same year.

Egypt

Central Bank of Egypt

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