Circular dated December 9, 2021 regarding the continued extension of the period of exempting banks from the application of Clause Two contained in the instructions for concentration ratios in the credit portfolios of the 50 largest clients and related parties issued on January 11, 2016

Cairo: December 9, 2021

Mr. Chairman of the Board of Directors of the Bank,

Greetings,

With reference to the circular letter dated March 31, 2021, which included the approval of the extension of the exemption of banks from the application of the provisions of the Board of Directors' decision dated June 6, 2016, regarding the waiver of the application of the provisions of December 2021. And in light of the Bank's keenness to play its role in supporting the economic sectors subject to the supervision of the Egyptian Central Bank, in light of the ongoing effects of the virus and its waves, the Board of Directors of the Central Bank of Egypt decided in its meeting held on December 7, 2021 the following:

"Continuing to exempt banks from applying Clause Two of the Central Bank of Egypt Board of Directors' decision dated January 6, 2016, issued pursuant to the circular letter dated January 11, 2016, regarding the limits of concentration of banks' credit portfolios among the largest 50 clients and related parties until the end of December 2022."

Please be informed of the above decision effective from its date, and to continue applying the provisions of the individual and sectoral risk limits contained in the guidelines for risk limits within the framework of the Basel III decisions issued pursuant to the circular letter dated April 7, 2019.

Please accept our highest regards,

Gamal Naguib