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

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