Requirement for Banks to Obtain Letter from Financial Supervisory Authority Before Employment with Controlled Companies

Banks must obtain a letter from the General Authority for Financial Supervision before granting or renewing credit facilities, conducting securitization operations, or providing employment to all companies subject to the Authority's supervision. The letter must confirm the companies' soundness of performance, compliance with standards and rules for their specified activities, and the absence of any outstanding violations, administrative measures, or penalties. This requirement applies to all companies under the Authority's control and reinforces obligations previously set in circulars dated October 13, 2019, and February 29, 2024.

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Greeting,

Cairo: September 24, 2025

With reference to the circular issued on October 13, 2019, regarding the regulations for granting credit facilities to companies/

Associations and civil institutions licensed to practice microfinance, as well as the circular issued in

February 29, 2024, regarding the regulations for financing leasing companies, which included the need for banks to obtain confirmation of

compliance of those companies with the rules and regulations governing their work and issued by the General Authority for Financial Supervision, and the absence of any

outstanding violations in this regard.

I would like to emphasize the necessity of full compliance by banks to obtain a letter from the General Authority for Financial Supervision before providing

(granting or renewing credit facilities, securitization operations, ......) to all companies subject to the Authority's supervision, indicating the soundness of the performance of

those companies and their compliance with the standards and rules for practicing the activity specified by the Authority, and the absence of any outstanding violations or any

administrative measures or penalties.

Please take the necessary action in this regard.

Please accept our sincere regards,

Tariq Al-Khouli

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Source: Central Bank of Egypt — original document

Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works