Regulatory Alerts2024-03-04 | CBE4.8Added · Updated
CBE Regulation Book 4.8 - Register of Expertise Houses Capable of Participation in Evaluating Collateral Provided to Banks
The Central Bank of Egypt establishes a register for expertise houses to evaluate collateral provided to banks, requiring submission of specific documents including commercial registration, CVs, and conflict-of-interest undertakings. Eligibility mandates that responsible managers hold a university degree, possess at least ten years of specialized experience, have good repute, and be registered with the Egyptian Financial Regulatory Authority's appraisal experts body. Expertise houses are held liable for the accuracy of their reports and are prohibited from conducting appraisals where conflicts of interest exist or from purchasing the evaluated collateral.
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