2013-06-17

Banks' emergency plan to maintain cash balances

In a letter dated June 16, 2013, the Egyptian Central Bank instructed a bank's chairman to comply with international practices and the current circumstances by developing an emergency plan to maintain sufficient cash reserves to sustain operations for at least 5 working days. The letter also emphasized the need to provide minimum reserve amounts in all branches, considering geographical distribution according to the bank's network, to meet the needs of different governorates and avoid concentration in the Greater Cairo area.

Egypt

Central Bank of Egypt

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