Circular dated May 25, 2017 regarding obligating banks to inform their boards of directors of all instructions, controls, and correspondence issued by the Central Bank

Cairo: May 25, 2017

Mr. Chairman of the Board of Directors

Greetings,

I would like to remind you of Circular No. 23 dated August 23, 2011, and Circular No. 5 dated October 5, 2011, regarding the obligation to inform the board of directors of all instructions, controls, and correspondence issued by the Central Bank. I also wish to point out that the board of directors of any bank must be informed of all instructions and controls issued to the bank, as well as any correspondence sent to the Central Bank. It is also necessary to ensure that the board of directors is informed of all instructions and controls issued to the bank, as well as any correspondence sent to the Central Bank, and that the board of directors is informed of all instructions and controls issued to the bank, as well as any correspondence sent to the Central Bank.

Furthermore, I would like to draw your attention to the importance of the board of directors' oversight of the bank's correspondence with the Central Bank. I would like to emphasize that the board of directors must be informed of all correspondence sent to the Central Bank.

Please accept my highest regards,

Gamal Najm