Circular dated January 9, 2018 regarding monitoring the accounts of deceased persons to avoid adding insurance and pension benefits to them

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Cairo on: January 9, 2018

Dear Mr. Chairman of the Board of Directors,

Bank

Greetings,

With reference to information received indicating that there are a number of accounts at some banks where insurance and pension benefits are transferred despite the death of their owners, I would like to emphasize the necessity of taking the appropriate measures to comply with the periodic monitoring of these accounts and notifying the Social Insurance Authority thereof, with the aim of clearing the accounts and avoiding the repetition of adding benefits to them without justification.

Please be so kind as to alert regarding taking the necessary action in this regard.

Accept the highest regards

Gamal Naguib