Regulatory Alerts2021-01-04
Added · Updated
Circular dated January 4, 2021 regarding operational risk management instructions
The Central Bank of Egypt mandates that all banks operating in Egypt replace the Basic Indicator Approach with the Standardized Approach (SA) for calculating operational risk capital requirements under Pillar 1 of Basel III. Banks are granted a transition period until the end of December 2021 to align their operations, during which they may continue using the Basic Indicator Approach. Banks must submit completed loss data collection forms quarterly to the Supervision Department starting from the end of December 2020.
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