2013-04-22

Emphasizing the necessity of adhering to what was stated in 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 letter reminds the recipient of the Central Bank of Egypt's decision regarding the amendment of rules governing the credit registration system and the inclusion of non-compliant clients in negative lists. It highlights the need for accurate data and the removal of clients with outstanding fees, commissions, and interests without actual fund withdrawals. The letter also emphasizes the importance of updating client data upon repayment and registering the repayment date. Non-compliance with these directives may result in penalties as per the Central Bank, the Banking Sector, and the Currency Law No. 88 of 2003.

Egypt

Central Bank of Egypt

Show thumbnail