RegAlert2021-07-06
Added · Updated
Circular on Controls for Providing Commercial Registry and Documentation Services Through Banks
The Central Bank of Egypt authorizes commercial banks registered with it to provide commercial registry services to the general public and documentation (notary) services exclusively to their own customers as an initial phase. Banks must obtain prior approval from the Central Bank's Banking Affairs Sector, security clearance, and IT connectivity approval before signing agreements with the Ministry of Supply and Internal Trade and the Ministry of Justice. The regulations mandate strict operational separation between banking activities and these government services, requiring dedicated physical spaces, exclusive use of ministry-branded materials, and explicit customer disclaimers stating that the banks bear no liability for the services provided by the respective ministries.
CBE published 2 documents in the last 30 days — get each new one by email the day it lands.
Cairo: July 6, 2021
To: Mr. / Chairman of the Board of Directors
Greetings,
In light of enhancing cooperation between the banking sector and both the Internal Trade Development Authority under the Ministry of Supply and Internal Trade, and the Real Estate Registration Department under the Ministry of Justice, with the aim of providing commercial registry and documentation services to customers through bank branches, the Board of Directors of the Central Bank of Egypt, in its meeting held on June 20, 2021, approved the general framework enabling the provision of Commercial Registry and documentation services within bank branches, as well as the controls detailed in the attachment, as follows:
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Lineage: In force
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
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