2022-08-22 | CBE7.2

CBE Regulation Book 7.2 - Instructions For Implementing The International Financial Reporting Standard 9 Experimental Application

The Central Bank of Egypt is committed to maintaining compliance with international best practices in the Egyptian banking sector, including the application of IFRS standards for financial reporting. To this end, the Board of Directors, in its meeting on January 17, 2018, decided that banks must apply IFRS 9 standards starting from 2019. Banks are required to submit quarterly reports to the Central Bank of Egypt detailing their progress in implementing IFRS 9, including a quantitative impact study (QIS) to assess the expected credit loss (ECL) resulting from the application of IFRS 9.

Egypt

Central Bank of Egypt

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