RegAlertRegulatory Alerts
2024-11-10

Added · Updated

Circular dated June 12, 2017 regarding the requirements for appointing foreigners (non-Egyptians) in banks

The Central Bank of Egypt requires banks to obtain prior approval for the appointment and renewal of appointments of foreign employees, mandating the submission of a specific form and a personal statement. Banks must verify that the foreign employee's criminal record certificate is authenticated by the Ministry of Foreign Affairs and that their reference bank certificate covers the last six years.

Central Bank of Egypt logo

Egypt

Central Bank of Egypt

Scan of the document's first page
Share

Get CBE alerts — same-day email on every new publication.

Dear Sir/Madam, Chairman of the Board,

Greetings,

I would like to draw your attention to the provisions of Article 43 of the Central Bank of Egypt and Monetary Authority Law No. 88 of 2003, and the instructions of the Central Bank of Egypt regarding the necessity of obtaining the approval of the Central Bank of Egypt for the appointment of foreigners (non-Egyptians) in banks, their renewal of appointment in the bank, and the submission of the attached form and a personal statement for these persons, as well as obtaining prior approval from the Central Bank of Egypt.

Furthermore, the Central Bank of Egypt has issued a specific form for the appointment and renewal of appointment of these persons, and requests that you forward it to your bank (upon request from the bank) as follows:

  1. The criminal record certificate (police record) of the foreign employee, in addition to their confirmation that it is authenticated by the Ministry of Foreign Affairs.

  2. Reference Bank certificate obtained from their place of work, i.e., the state where they worked for "the last 6 years".

Please accept my highest regards,

Tarek Fayed

Sign in to read the rest — it's free

Source: Central Bank of Egypt — original document

Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works

More from Central Bank of Egypt
All documents →

More like this from CBE

We email you every new CBE publication the day it's published.

Topics
aml
kyc