Regulatory Alerts2022-09-04
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Circular dated September 4, 2022 amending the periodicity of Board of Directors meetings
The Central Bank of Egypt amends the decision of January 23, 2019, requiring bank boards of directors to hold at least six regular meetings per year. The amendment establishes physical attendance as the norm, permitting remote participation via video or telephone for a maximum of two meetings per member annually, subject to the majority of the board attending in person. The circular also maintains the exceptions outlined in the March 17, 2020 circular and its subsequent updates.
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