Regulatory Alerts2020-10-27
A circular dated October 25, 2020 confirming the obligation of banks to inform their boards of directors of all instructions, controls and correspondence issued by the Central Bank.
In a letter dated October 25, 2020, the Chairman of the Board of a bank in Cairo, Egypt, is reminded of the importance of keeping the Board informed of all instructions, guidelines, and correspondence issued by the Central Bank. This is to ensure that the Board can fulfill its duties effectively and maintain the financial health of the bank. The letter emphasizes that compliance with these instructions will be monitored and reviewed by the Central Bank.
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governance