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2024-10-01

Added 2024-10-01 · Updated 2026-09-12

Circular dated October 1, 2024 regarding persons who are seconded by some entities to work in banks

The Central Bank of Egypt requires banks to submit the names and details of any individuals seconded by external entities to work at the bank to obtain prior approval before issuing the secondment decision. This mandate applies to all persons seconded from any entity to work within the bank.

Egypt

Central Bank of Egypt

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Cairo on: October 1, 2024

To: Chairman of the Board

Tahya Bank,

Greetings,

In light of the Central Bank's commitment to the quality and efficiency of banking personnel and the emphasis on the necessity of having diverse and relevant expertise in banking work, as this has a direct impact on the performance level of banks, which positively reflects on the integrity and stability of the banking sector, and in order to verify the efficiency of persons who are seconded by some entities to work in banks, I would like to emphasize the necessity of providing the Central Bank with the names and details of any person who is seconded from any entity to work in the bank, in order to obtain prior approval from the Central Bank before contacting the entity and issuing the secondment decision.

Please be kind enough to direct compliance with the above.

Accept my highest regards,

Tarek El-Khouly

Source: Central Bank of Egypt — original document

Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works