Regulatory Alerts2015-07-09
Adding the activity of providing banking services to the small and medium enterprises sector to the activities carried out by small branches of banks
Dear Esteemed Professor / Chairman of the Bank's Board, I would like to refer you to the letter of His Excellency Governor on December 8, 2014 regarding the rules approved by the Central Bank Board at its extraordinary meeting on December 2, 2014 regarding opening small branches, as the aim is to encourage them to expand financial inclusion and serve more customers in areas where these branches will operate, contributing to promoting the concept of comprehensive financial inclusion. Accordingly, the Central Bank Board has approved, at its extraordinary meeting on April 8, 2015, the addition of providing banking services to small and medium-sized enterprises (SMEs) under the previously approved activities by the Central Bank's Board on December 2, 2014, as stated in His Excellency Governor's letter. I hope you accept my high regards, Sincerely, Dr. Tarek Fayed