Regulatory Alerts2014-03-16
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Providing the Central Bank of Egypt with the names of the candidates representing the membership or chairmanship of the board of directors of any of the sister or subsidiary banks abroad and the executive director of the bank branches abroad
Banks are required to submit the names of candidates for membership or chairmanship of the board of directors of sister or subsidiary banks abroad, as well as the executive director of bank branches abroad, to the Central Bank of Egypt to obtain prior approval. The submission must include the candidates' resumes, status statements, and declarations, in accordance with Articles 43 and 92 of the Central Bank, Banking System and Currency Law No. 88 of 2003 and the Central Bank of Egypt Board of Directors' decision of April 6, 2004.
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