2012-05-09

Reducing the reserve ratio from 14% to 12%

In March 2012, the CEO and Board of Directors of the Central Bank of Egypt decided to reduce its reserves by 2% to become 12%, down from 14%. This decision was taken in response to the impact on the banking sector due to recent global developments. The board also approved a new law for banks, amendments to the central bank's law, and various decisions regarding reserve levels. This reduction is expected to begin on 17 April 2012, with the reserve level being set at a constant 14% until then.

Egypt

Central Bank of Egypt

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