Regulatory Alerts2023-05-14 | CBE8.2Added · Updated
CBE Regulation Book 8.2 - Rules For Licensing, Control And Supervision Of Exchange Companies
The Central Bank of Egypt updates the licensing, control, and supervision rules for exchange companies, requiring a minimum paid-up capital of 25 million EGP and granting a one-year compliance deadline, extendable to September 2023 for capital requirements. The regulation establishes detailed procedures for initial and final licensing, branch establishment, and board member nominations, while mandating specific technical, security, and financial conditions for operations. It further regulates share ownership changes, mergers, and prohibited activities, such as lending, borrowing, and holding deposits, and sets specific fees for inspection and supervision.
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