Regulatory Alerts2005-05-22
Added · Updated
Rules Regulating the Credit Registration System at the Central Bank
The Central Bank of Egypt mandates that banks, financial leasing companies, and real estate financing companies disclose customer details, including related parties, when processing credit applications exceeding 30,000 EGP. Financial institutions are required to submit monthly electronic reports on customer credit positions via the Central Bank's information network and notify the General Administration of Banking Credit Risk Aggregation of irregular payments within thirty days of taking specific legal or administrative actions. The rules also establish procedures for entering new customer data into the central system and define the specific formats and thresholds for credit reporting.
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