RegAlertRule · CBE · 12 May 2026
Circular dated May 12, 2026 confirming expertise requirements for Bank Board of Directors members
The document emphasizes that when nominating members of bank boards of directors, it is necessary to ensure the availability of sufficient expertise specifically in economics, monetary affairs, banking, finance, law, accounting, or information technology. This requirement applies to the members of the boards of directors of banks to enable them to perform their entrusted responsibilities effectively. The issuer requests full compliance with these expertise standards.
Cairo on: May 12, 2026
Mr. Chairman of the Board of Directors
Bank
Greetings and salutations,
With reference to the circular issued on September 19, 2024, regarding "Governance and Internal Control Instructions for Banks" and its subsequent circulars, and especially what was addressed in the instructions regarding the necessity for members of bank boards of directors to possess diverse expertise, including banking, financial, and economic activities, and in order to enhance the efficiency and effectiveness of bank boards of directors and maximize the benefit from members' expertise to support the decision-making process, I would like to emphasize that when nominating members of the Board of Directors, it is necessary to ensure the availability of sufficient expertise, specifically in the fields of economics, monetary affairs, banking, finance, law, accounting, or information technology, which will enable them to perform the responsibilities entrusted to them in the best possible manner. Kindly provide instructions regarding full compliance with the above. Please accept our highest regards Tarek El Kholy
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