Regulatory Alerts2021-09-02
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Circular dated September 2, 2021 regarding instructions for recovery plans
The Central Bank of Egypt mandates all banks operating in Egypt to prepare and submit recovery plans to ensure financial stability and crisis response capabilities. Banks must submit their first recovery plan within 90 days of the end of the 2022 financial year, with systemic importance banks required to update their plans annually and others every two years. The instructions specify detailed requirements for plan content, including strategic analysis, quantitative and qualitative indicators, recovery options, stress testing scenarios, governance frameworks, and simulation exercises.
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