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

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