Region

Jurisdiction

Regulator

2012-06-11

Reducing the reserve ratio from 12% to 10%

In May 2012, the CEO of Cairo's Botaica Bank addressed a board meeting regarding reducing the bank's reserve ratio from 14% to 12%, and discussed continuing support for the Egyptian banking sector. He requested the approval of his proposal. The Egyptian Central Bank's Board of Directors approved the proposal in their May 2012 meeting to reduce the reserve ratio from 12% to 10%. This change would begin on June 30, 2012, based on the existing capital. The decision was published in the Official Gazette.

Egypt

Central Bank of Egypt