Regulatory Alerts2024-11-11
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Circular dated October 26, 2015 regarding requirements for appointing foreigners (non-Egyptians) in banks
The Central Bank of Egypt requires banks to submit prior approval requests for the appointment or re-appointment of non-Egyptian personnel, including their CVs, state statements, and declarations. Banks must provide copies of these documents to the Supervision and Inspection Sector upon hiring and ensure the individuals have no criminal records or financial obligations. The circular mandates the use of a specific state statement form to verify the background and professional history of these foreign employees.
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