Circular on Informing the Board of Directors of Central Bank Instructions

Cairo on: October 25, 2020 Mr. Chairman of the Board of Directors Bank

Greetings,

Further to the circular dated May 25, 2017, and with reference to the Bank Governance Instructions issued on August 23, 2011, regarding board members obtaining important information in a timely, clear, and accurate manner to enable them to fulfill their duties and perform their tasks to the fullest extent, with the necessity of continuing dialogue between board members and the supervisory authority to achieve the financial soundness of the bank.

I would like to emphasize what was stated in the aforementioned circular regarding the necessity of alerting and informing your bank's board of directors of all instructions, controls, and correspondence issued by the Central Bank, to be included in the file of all board of directors' meetings. I also point out in this regard that this matter will be subject to follow-up and review by the Central Bank.

Please ensure full compliance with the foregoing.

Sincerely, Gamal Negm