2020-06-24

A circular dated June 24, 2020 obliging banks to notify their irregular customers to delete historical information about them and lift the ban on dealing with them.

The letter, dated June 24, 2020, is addressed to the Chairman of the Board of Directors of a bank in Cairo, Egypt, and outlines amendments to the rules governing the credit registration system at the Central Bank of Egypt regarding non-compliant customers. The changes include reducing the disclosure period for historical customer information after repayment and lifting restrictions on dealing with certain categories of customers. The Central Bank of Egypt instructs banks to communicate these changes to affected customers and provide updates on their current status regarding the deletion of historical information and the lifting of conditional bans.

Egypt

Central Bank of Egypt

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