Regulatory Alerts2013-04-22
Added · Updated
Emphasizing the necessity of adhering to the decision of the Board of Directors of the Central Bank dated January 3, 2012 regarding amending the rules governing the credit registration system at the Central Bank of Egypt
The Central Bank of Egypt reminds banks to strictly adhere to the Board of Directors' decision of January 3, 2012, concerning the credit registration system, specifically regarding the removal of non-compliant customers from negative lists by the end of June 2012. Banks are required to promptly update customer data upon repayment and ensure that issuing repayment receipts coincides with recording the repayment date in the Central Bank's information network. Failure to comply, as verified through customer complaints, may result in the application of measures stipulated in Article 135 of Central Bank Law No. 88 of 2003.
Topics
Share