Regulatory Alerts2020-11-22
Added · Updated
Circular dated November 23, 2020 regarding extending the period of exceptions for participation in bank board meetings via video or telephone
The Central Bank of Egypt extends the exemption allowing bank board members to participate in meetings via video or telephone without adhering to the maximum frequency limit until the end of December 2021. The circular also maintains the exemption from requiring the physical presence of a majority of board members during this period. This extension applies to banks governed by the corporate governance instructions issued on August 23, 2011, and subsequent circulars.