Regulatory Alerts2020-03-05
Added · Updated
Circular dated March 5, 2020 regarding establishing a financial inclusion department in banks
The Central Bank of Egypt requires all banks to establish an independent Financial Inclusion Department reporting to the Executive President. This department must prepare a 3-5 year financial inclusion strategy and an annual action plan covering geographic expansion, product development for excluded groups, and digital services. Banks must submit the name of their designated contact person immediately and deliver their financial inclusion strategy by May 15, 2020.
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