Regulatory Alerts2020-03-17
Added · Updated
Circular dated March 17, 2020 regarding participation in bank board meetings via video or telephone during the year 2020
The Central Bank of Egypt exempts banks from the maximum limit of two video or telephone participations per board member per year and waives the requirement for a majority of board members to be physically present, provided prior approval is obtained from the Supervision and Inspection Sector. These exceptions apply until the end of 2020 to allow banks to function effectively under exceptional global circumstances, while all other provisions of the relevant governance instructions remain in force.
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