Regulatory Alerts2016-03-09
Added · Updated
Circular dated March 9, 2016 regarding instructions for the internal assessment of capital adequacy
The Central Bank of Egypt mandates that banks submit their Internal Capital Adequacy Assessment Process (ICAAP) reports within 90 days of the end of each financial year, with a one-time submission deadline of March 31, 2017, for the current year. Banks may apply for individual assessment instead of group-level assessment if strong justification is provided and approved by the Board of Directors. The regulations define the ICAAP as an integral management process requiring banks to ensure capital adequacy aligns with their overall risk profile, risk management efficiency, and strategic planning, subject to supervisory review.
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