Regulatory Alerts2022-04-26 | CBE1.1Added · Updated
CBE Regulation Book 1.1 - Rules For Licensing And Registering A Foreign Bank Or Branch
The Central Bank of Egypt establishes licensing and registration requirements for foreign banks and branches, mandating minimum capital of 5 billion Egyptian pounds for Egyptian joint-stock companies and 150 million US dollars for foreign bank branches. The rules define eligibility criteria, including ownership structure, financial viability studies, and fit-and-proper assessments for key personnel. The document outlines a two-step approval process involving initial consent and final licensing, specifying required documentation, application fees, and decision timelines. It further regulates the registration of licensed entities in a central bank register and sets procedures for modifying registration data.
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