CBE Regulation Book 4.9 - Controls Reporting To Investigation Bodies

Banks must consult the Central Bank of Egypt (CBE) before reporting to investigation bodies regarding specific incidents. Reporting is mandatory for actual fraud, forgery, or document falsification, whereas reporting credit file discrepancies requires prior CBE approval and a detailed memorandum outlining the discrepancy, responsible parties, corrective actions, and preventive measures. The document references CBE letters from October 2000 and March 2000.

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Chapter Nine (1) Controls Reporting To Investigation Bodies

Banks must consult the opinion of the Central Bank of Egypt before reporting to investigation bodies regarding the following incidents:

First: In cases of actual fraud, forgery, or falsification of documents, banks must report such incidents to the investigation bodies with the knowledge of the Central Bank of Egypt within the specified timeframe.

Second: In cases of credit file discrepancies, banks must obtain prior approval from the Central Bank of Egypt before reporting to investigation bodies. The request must be accompanied by a memorandum detailing:

The discrepancy identified in the credit file.
The shortcomings or violations related to these credit files, along with the identification of responsible parties.
The corrective measures taken by the bank regarding these responsible parties.
The measures adopted to prevent the recurrence of such violations in the future.

1 Letter from Mr./ Deputy Governor of the Central Bank of Egypt dated October 29, 2000.
2 Letter from Mr./ Governor of the Central Bank of Egypt dated March 30, 2000.

Source: Central Bank of Egypt — original document

Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works