Regulatory Alerts2014-10-21
Added · Updated
Internal Control Instructions for Banks
The Central Bank of Egypt mandates that all banks operating in Egypt apply new internal control instructions to maintain the stability and safety of the Egyptian banking system. Banks are granted a six-month grace period to align their operations with these instructions, which take precedence over existing practices in case of conflict. Banks must submit a specific timeline to the Supervision and Inspection Sector demonstrating their compliance during this adjustment period.
Topics
Share