Regulatory Alerts2025-09-01
Added · Updated
Updated regulatory controls for exchange companies on combating money laundering, terrorist financing and financing the spread of arms
The Central Bank of Egypt cancels the July 29, 2008 regulatory controls for exchange companies regarding combating money laundering and terrorist financing and issues new controls that include financing the proliferation of arms. These updated rules apply to all exchange companies operating in the Arab Republic of Egypt and mandate specific governance frameworks, appointment criteria for responsible managers, customer due diligence procedures, and record-keeping requirements. Exchange companies are granted a six-month period from the date of issuance to reconcile their situations with these new obligations.