Central Bank of Egypt (CBE)

The Central Bank of Egypt has approved amendments to the regulations concerning board meetings in banks. Board meetings should occur at least six times a year, with a minimum of four physical attendances. Members can participate via video or phone in exceptional cases, provided the board chairman and secretary are informed, and a majority of members are physically present. Banks are instructed to fully comply with these amendments.

The Central Bank of Egypt has announced amendments to the initiative supporting the tourism sector. The maximum limit for the initiative is now 50 billion Egyptian pounds. The withdrawal period is extended to a maximum of 28 months from the first withdrawal, with a grace period of 6 months to obtain an operating license, ensuring the rapid operation of hotel rooms.

The Egyptian government has approved amendments to the interest rates on real estate financing initiatives for middle-income individuals. According to the decision, the interest rates will be adjusted to 8% and 12% decreasing instead of 3% and 8% decreasing respectively. These amendments will not apply to customers who have already applied for reservations through the previous "Housing for All Egyptians" initiative. The decision aims to support citizens in accessing affordable housing while adhering to the Central Bank of Egypt's initiatives.

This letter, dated October 20, 2025, is addressed to the Chairman of the Board of Directors of a bank. It refers to a circular issued on March 24, 2003, and subsequent circulars regarding the controls to be observed when issuing bank deposit certificates for the establishment of companies or the completion of payment of issued capital, partially or wholly, or an increase in capital. The letter emphasizes the need to adhere to adding the amounts listed in these certificates to the company's accounts in the same currency as recorded in the commercial register and its special basic system.

This document, dated October 20, 2025, is addressed to the Chairman of the Board of Directors of a bank. It references a circular issued on March 24, 2003, regarding controls for issuing bank deposit certificates for company establishment or capital completion. The document emphasizes the need to adhere to these controls and ensure that released funds from these certificates are added to the company's accounts in the same currency as recorded in the commercial register and articles of association. It urges attention to the specified commitments and concludes with regards.

The Egyptian government has approved changes to the interest rates for real estate financing initiatives aimed at middle-income and low-to-middle-income individuals. The interest rate for middle-income housing finance will increase from 8% to 12%, while the rate for low-to-middle-income housing finance will rise from 3% to 8%. These adjustments will apply to all new loans issued under these initiatives starting from October 15, 2025.

This document is a reminder about the regulations regarding credit facilities and financing for companies and institutions. It emphasizes the need for banks to ensure that companies comply with the rules set by the Financial Regulatory Authority before providing credit or financing. It also specifies that banks must obtain confirmation from the Financial Regulatory Authority regarding the safety and compliance of companies before providing credit facilities. The document is addressed to those concerned and emphasizes the importance of taking necessary actions.

The document is a set of instructions regarding governance and internal control for payment system operators and payment service providers in Egypt. These instructions outline the minimum requirements for governance and internal control that these entities must adhere to. The instructions cover various aspects, including the organizational structure, responsibilities of the board of directors, risk management, and internal audit functions. The aim is to ensure the safety, efficiency, and soundness of payment systems and services in Egypt.

The document outlines the requirements for competence and technical eligibility for key officials of payment system operators and payment service providers, according to the provisions of the Central Bank and Banking System Law No. 194 of 2020. It emphasizes the need for these institutions to obtain prior approval from the Central Bank before appointing individuals to key leadership roles. The document details the criteria, procedures, and obligations related to ensuring the competence, integrity, and suitability of candidates for these positions within the payment ecosystem. The document sets the basic conditions and requirements for candidates for key positions in a payment institution, to verify the extent of their integrity, impartiality, competence, commitment and necessary expertise. It emphasizes on ensuring candidate's competence to perform the tasks and responsibilities of the nominated position, availability of sufficient experience, knowledge in payment services, and the capacity to make sound decisions.

The Central Bank of Egypt has approved a new initiative to expand banking services to underserved communities, including individuals, small and medium-sized enterprises. This initiative allows banks to establish banking service units outside their traditional branches, waiving the usual capital allocation requirements. These units can be mobile or fixed and offer various services, including cash transactions, account opening, loan applications, and financial literacy programs. Banks must coordinate with the Central Bank, adhere to security measures, and provide regular reports on their operations.

The Central Bank of Egypt (CBE) has issued updated regulatory controls for exchange companies regarding anti-money laundering (AML), counter-terrorism financing (CTF), and counter-proliferation financing (CPF). The circular cancels the previous regulatory controls issued in 2008 and introduces new, updated measures, including enhanced due diligence, risk assessment, and reporting requirements. Exchange companies are granted a six-month grace period to comply with the new controls and are required to ensure ongoing training and compliance with the updated measures.

The Central Bank of Egypt has issued a directive regarding the use of credit cards abroad. For traveling customers who have contacted the bank to use their cards abroad, the requirement to provide proof of card usage while abroad through entry and exit stamps has been waived. Banks retain the right to monitor customer's credit card usage to ensure it occurs while they are abroad and take action if customers fail to provide supporting documents.

This is a letter addressed to bank managers. It references Article 212 of the Central Bank and Banking System Law No. 194 of 2020, which mandates that transactions within the Arab Republic of Egypt must be in Egyptian pounds unless otherwise stipulated in an international agreement or law, or in cases determined by a decision from the Board of Directors. It also refers to the periodical book dated June 18, 2023, regarding the modification of software applied to electronic point-of-sale (POS) devices or their special converters, so that dealing in discount operations in foreign currency within the Arab Republic of Egypt is not accepted, except after obtaining the necessary approvals in this regard. Banks must ensure that settlements within the Arab Republic of Egypt are processed exclusively in Egyptian pounds via electronic POS systems. Banks are instructed to inform their clients accordingly, ensuring the provision of foreign currency needs according to their bank's policies. This directive is effective starting Sunday, August 17, 2025.

This document announces a change in the working hours of some bank branches. Initially, the working hours were extended until 5 PM on official working days (Sunday to Thursday), starting from Tuesday, July 8, 2025. However, a new decision has been made to revert to the original working hours, with the closing time set at 3 PM to serve the public. This change is effective until further instructions are issued.

Egyptian banks are adjusting their daily cash withdrawal limits. A recent directive increased the limit to 500,000 Egyptian pounds for individuals and companies, but this change is now being reversed. The new daily limit for cash withdrawals from bank branches will be 250,000 Egyptian pounds for both individuals and companies. Banks are asked to take the necessary actions to implement this change immediately.

The document is addressed to the Chairman of the Board of Directors of a bank, informing them about an update regarding the daily cash withdrawal limits. Initially, the daily withdrawal limit from bank branches was increased to 250,000 Egyptian pounds for individuals and companies, and 30,000 Egyptian pounds from ATMs, as per the circular issued on April 15, 2024. Due to current emergent circumstances, a temporary exceptional increase has been approved, raising the withdrawal limit from bank branches to 500,000 Egyptian pounds for individuals and companies until further notice.

The Central Bank of Egypt has announced an extension of working hours for some bank branches until 5 PM on weekdays, effective from Tuesday, July 8, 2025. This decision comes in response to the current emergency circumstances and aims to better serve the public. Banks must inform the Central Bank if they choose to extend their hours, and branches located in malls, clubs, and hotels will continue to follow existing regulations.

The Egyptian Ministry of Investment and Foreign Trade has issued a new decree (No. 273 of 2025) adding 65 new commodities to the list that require export operations to be conducted through a bank operating in Egypt. This decision, dated June 18, 2025, amends Ministerial Decree No. 235 of 2013, which aimed to tighten control over export proceeds. Exporters must now provide a bank certificate to customs to verify that transactions for these additional goods have been processed through authorized banking channels, ensuring adherence to foreign currency regulations.

A new ministerial decision has been issued regarding the collection of administrative expenses for imported goods. According to the decision, the Egyptian Customs Authority will now be responsible for collecting these expenses based on the customs-approved value of the goods. The collected expenses will be added immediately to the account of the Ministry of Investment and Foreign Trade, and goods will not be released until these expenses are paid. Banks are no longer responsible for collecting these expenses.

The Central Bank of Egypt has issued rules for licensing and registering payment system operators and payment service providers, aiming to enhance the safety and efficiency of payment systems. These rules apply to entities operating within and outside Egypt that provide payment services, including banks and other payment institutions. Compliance with these regulations is mandatory for those providing payment services or operating payment systems in Egypt, whether they are local or international entities serving residents. It is crucial for stakeholders to understand and adhere to these new guidelines to ensure regulatory compliance and maintain the integrity of Egypt's payment ecosystem.

The Central Bank of Egypt (CBE) is preparing the banking sector for the implementation of the Carbon Border Adjustment Mechanism (CBAM) by the European Union and the United Kingdom. This mechanism imposes additional taxes on products exported to these regions if they do not comply with carbon emission policies. The CBE is asking banks to assess the potential impact on their portfolios, particularly for companies in sectors like steel, aluminum, cement, fertilizers, and hydrogen. Banks are required to submit semi-annual reports to the CBE's sustainability department to monitor and manage the associated risks, starting from the second half of 2026.

The Central Bank of Egypt has issued new guidelines for banks regarding the preparation of financial statements. Banks can now choose between the cost method and the equity method for accounting for investments in subsidiaries and affiliates. This change aims to align Egyptian accounting standards with international practices and improve the comparability of financial statements. Banks that opt for the equity method must disclose the original cost of the investments in the financial statements for comparative analysis.

The Central Bank of Egypt issued instructions regarding the "Rules of the Code of Conduct for Banking Work" to ensure a work environment based on ethical principles. Banks are required to fully comply with these instructions and organize awareness sessions for all employees to ensure their application. The instructions include the minimum basic principles that must be included in the code of conduct, such as honesty, integrity, compliance with laws, confidentiality, and avoiding conflicts of interest. These guidelines aim to promote ethical behavior and maintain the reputation of the banking sector.

The Central Bank of Egypt has issued new instructions regarding the regulation of the credit registry system. These instructions aim to update the rules for collecting customer data who have received financing or credit facilities. The goal is to make this information available to banks and credit granting entities for review before providing financing or credit facilities. Banks and credit granting entities are given a grace period of 12 months to reconcile their status from the date of issuance, and the Central Bank will monitor the implementation on a quarterly basis.

The Central Bank of Egypt has decided to extend the exception for rice, beans, and lentils from the 100% cash cover requirement for import operations by another year, until March 15, 2026. This decision, based on the Central Bank's monitoring of the Egyptian market's needs and its commitment to facilitating import procedures to meet citizens' demands, applies to all import operations for all companies, subject to each bank's credit assessment. Banks are requested to take the necessary actions to implement this decision.

The Egyptian government has approved an initiative to support priority industrial sectors with a reduced 15% interest rate, effective January 16, 2025. This initiative, managed by the Ministry of Finance, allocates 30 billion Egyptian pounds to finance machinery, equipment, and production lines. Priority will be given to projects in areas most in need of development, particularly in Upper Egypt and the Suez Canal region, aiming to boost local value added and employment.

In reference to the real estate financing initiative, the Chairman of the Board of Directors of the Bank received a letter regarding the decision to limit the initiative to financing low-income individuals through the Social Housing and Real Estate Finance Fund. A subsequent cabinet decision modified the income brackets and interest rates for real estate financing, with the Fund communicating the interest rate for each client through its electronic system. The Bank is requested to adhere to these updates effective immediately.

In a letter dated February 3, 2025, the Chairman of the Board of Directors of a bank in Cairo, Egypt, communicates a decision by the Central Bank's Board of Directors to amend the instructions regarding the internal assessment of capital adequacy. The amendment extends the deadline for banks to submit their internal capital adequacy assessment reports to the Central Bank's Supervision and Control Sector, allowing 90 days from the date of the general assembly meeting. The report must be adopted and reviewed annually by the bank's Board of Directors, and any significant changes during the year must be communicated to the Central Bank.

The Central Bank of Egypt has issued a guidance document for banks to identify the real beneficiaries of their clients. This comes in light of the Central Bank's commitment to applying international standards related to combating money laundering and terrorist financing. The guidance includes methods for identifying real beneficiaries and common techniques used to conceal their identities. This is aimed at helping banks to access accurate data about the real beneficiaries of their clients, in accordance with local legislative and regulatory frameworks.

In a letter dated December 29, 2024, the Chairman of the Board of Directors of a bank in Cairo, Egypt, announces an increase in the daily and monthly transaction limits for financial inclusion accounts. This decision, made in coordination with the Anti-Money Laundering and Terrorist Financing Unit, aims to facilitate financial transactions and include targeted categories in the banking system. The new limits vary based on the type of account holder, such as individuals, micro-enterprises, and small businesses, with specific maximum limits set for account balances, daily transactions, and monthly transactions.

أصدر البنك المركزي المصري تعليمات جديدة لحماية حقوق العملاء، والتي تتطلب من البنوك تزويد العملاء بمعلومات واضحة وشفافة حول شروط وخصائص وتكاليف المنتجات أو الخدمات المقدمة. ونتيجة لذلك، قرر مجلس إدارة البنك إضافة بند إلى تعليمات حماية حقوق العملاء، والذي يتطلب من البنوك تزويد العملاء بملحق خاص بنماذج البيانات الأساسية التي تحتوي على تفاصيل الخدمة أو المنتج. يجب أن تتضمن هذه النماذج جميع الرسوم والمصاريف والشروط والأحكام ذات الصلة، مع مراعاة عدم تضمين أي أحكام جديدة لم ترد في العقود. يجب أيضًا أن تكون هذه النماذج متاحة إلكترونيًا إذا تم تقديم الخدمة إلكترونيًا، ومنح البنوك فترة ستة أشهر لتعديل عقودها وفقًا لذلك.

In a letter dated November 11, 2024, the Cairo bank manager informs the Chairman of the Board of a change in the minimum age requirement for youth to open bank accounts without parental consent. Previously, the minimum age was 16 years, but following a decision by the Minister of Interior to amend the regulations for issuing identity cards, the bank has decided to lower the minimum age to 15 years. The bank emphasizes the need for appropriate banking products that match the youth's legal capacity and risk profile and adheres to relevant regulations and instructions.

طارق فايد يكتب إلى رئيس مجلس إدارة البنك، بشأن كتاب محافظ البنك المؤرخ 20 أغسطس 2015، والذي يطلب من البنك تقديم أسماء جميع الموظفين الأجانب الذين يرغب البنك في تعيينهم أو تجديد تعيينهم، مع إرفاق السيرة الذاتية وبيان الحالة والقرارات الخاصة بهم. ويطلب فايد إرفاق نسخة من بيان الحالة والقرارات المذكورة، وتزويد البنك المركزي المصري بالمعلومات المطلوبة عند تعيين أو تجديد تعيين الموظفين الأجانب. كما يطلب من رئيس مجلس الإدارة اتخاذ الإجراءات اللازمة في هذا الشأن.

Mr. Chairman of the Board of Directors, Bank, Greetings, I would like to inform you about the procedures for declaring and renewing the declaration of foreign individuals (non-Egyptians) according to Article 43 of the Central Bank and Banking System Law No. 88 of 2003, the instructions of the Central Bank of Egypt regarding the obligation of banks to declare and renew the declaration of their foreign customers, the letter of the Governor dated August 20, 2015, and the letter dated October 26, 2015, regarding the need for the bank to obtain the approval of the Central Bank of Egypt. In this regard, the bank is keen to adhere to the procedures for declaring and renewing the declaration of these individuals, and in this context, we would like to inform you of the following requirements: 1. A certified criminal record (CRD) from the country of origin or the countries where they have resided, certified by the Ministry of Foreign Affairs of Egypt. 2. A reference letter from the bank where they worked in the countries where they resided for at least 6 years. Yours sincerely, Tarek Fay

In reference to the Prime Minister's decision no. 4151 of 2022, the Ministry of Finance will manage and follow up on new initiatives or modifications to existing ones, per the controls and provisions in the decision, with the approval of the Cabinet. The Cabinet approved, in its session no. 3 on July 24, 2024, the launch of the tourism sector support initiative with funding from the Ministry of Finance, with a maximum client financing limit of EGP 1 billion and EGP 2 billion for a client and its affiliates. The initiative's duration is 16 months or until October 30, 2026, whichever is earlier, with a 6-month grace period. The funded companies must obtain a temporary or permanent operating license within 6 months of the end of the drawdown period.

In a letter dated October 14, 2024, the Chairman of the Board of Directors of a bank in Cairo, Egypt, addresses the regulations governing the classification of financial inclusion products and services. The letter refers to the Egyptian Central Bank's directives and subsequent amendments, including the circular dated November 15, 2023, which increased the maximum limits for transactions on financial inclusion accounts. It emphasizes the possibility of opening financial inclusion accounts in foreign currencies for low-risk customers, including individuals, microenterprises, and small businesses. The letter also mentions the applicability of daily and monthly limits set for Egyptian pounds to these accounts, with transactions executed at the prevailing exchange rate for each foreign currency.

In a letter dated October 1, 2024, and addressed to the Chairman of the Board of Directors of a bank in Cairo, the writer emphasizes the Central Bank's focus on the quality and efficiency of banking personnel. To ensure the safety and stability of the banking sector, the letter requests that the bank submit the names and details of any individuals seconded from external organizations to the Central Bank for prior approval before issuing an assignment decision. The writer respectfully requests adherence to this process.

The letter is from the Central Bank of Egypt to the Chairman of the Board of Directors of a bank regarding the regulatory instructions for "Bank Governance" and "Internal Control of Banks." It emphasizes the importance of governance and internal control systems in maintaining the stability and integrity of the banking sector. The letter also highlights the role of the board of directors and senior management in ensuring compliance with regulatory requirements and promoting a culture of transparency and accountability.

أصدر البنك المركزي المصري تعليمات بشأن شروط الجدارة والصلاحية الفنية للمسؤولين الرئيسيين في البنوك، والتي تتضمن المعايير الفنية التي يجب توافرها في المرشحين لشغل مناصب رئيسية مثل رؤساء وأعضاء مجالس الإدارة والمديرين التنفيذيين. ويجب على البنوك الحصول على موافقة مسبقة من البنك المركزي قبل تعيين أي مرشح في هذه المناصب، مع التأكد من جدارتهم وصلاحيتهم. وتشمل المعايير المصداقية والنزاهة والخبرة والمؤهلات والكفاءة وسلامة الوضع المالي، بالإضافة إلى الاستقلالية وتجنب تعارض المصالح. وتنطبق هذه التعليمات على جميع البنوك المسجلة لدى البنك المركزي وفروعه ومكاتب تمثيل البنوك المصرية والأجنبية. كما تتناول الإجراءات الخاصة بترشيح المسؤولين الرئيسيين، ومتطلبات نقل المهام، والموافقة الصادرة عن البنك المركزي.

Cairo, Egypt on August 20, 2024: The Governor of the Central Bank of Egypt announced the instructions issued by the organized bodies to deal with money transfer companies in the Arab Republic of Egypt. According to the updated timetable for cash feeding ATMs through financial institutions, it is requested to adjust the feeding schedule of ATMs in cities to be before 10:00 PM daily. Please comply with this notice and accept our highest esteem. Governor of the Central Bank, Tarek El Khawly.

On August 20, 2024, a letter was sent to the Chairman of the Board of Directors of a bank in Cairo, Egypt, requesting a change in the timing of cash replenishment for ATMs within cities. The letter proposes that the replenishment be done from early morning until 10:00 PM daily. The sender, Tariq Al-Kholi, requests that the change be implemented immediately and expresses their highest regards.

The document outlines foreign currency exchange regulations and instructions for banks and businesses in Egypt, including rules for tourist establishments, shops, and casinos that deal in foreign currency. It also covers rules for foreign exchange markets and transactions, such as auction mechanisms and restrictions on certain types of transactions.

In reference to the regularly published book as at December 18, 2022 and following the reduction in reporting lag for specialized gold export operations from being 30 business days from shipment date to 7 business days, along with adjusting the relevant books of records for excluded activities involving either: i) exporting gold for external refining then re-importing it; or ii) importing gold for local refining and then re-exporting it; or iii) exporting gold mining operations, thus ensuring that specialized gold export operations are reported within 30 business days from shipment date. Considering the nature of private trade in gold, and with Central Bank support to ensure that suppliers of gold mining operations adhere to: i) extending the reporting lag for specialized gold export operations to 75 business days from shipment date; while ii) fully complying with all other pertinent guidelines. Please kindly abide by these changes. Thank you very much for your cooperation, Yours sincerely,

In a letter dated August 19, 2024, the Central Bank of Egypt announces an extension of the deadline for receiving export proceeds from gold jewelry exports to 75 days from the date of shipment. This extension aims to support exporters of gold jewelry due to the nature of their trade. The bank requests adherence to this decision and other applicable rules in this regard.

In a letter dated August 7, 2024, addressed to the Chairman of the Board of Directors of a bank in Cairo, Egypt, Mr. Tarek Al-Kholi expresses concern about the refusal of some banks to open accounts for non-resident foreign customers in Egypt, which has led to complaints and could result in increased financial transactions outside the banking sector. He emphasizes that there are no restrictions on opening accounts for non-resident foreign customers and that doing so does not compromise the safety of the Egyptian banking sector as long as regulatory guidelines and due diligence procedures are followed. He requests strict adherence to all laws and regulatory controls issued by the Central Bank and the Money Laundering and Terrorist Financing Combating Unit in this regard.

The Central Bank of Egypt has once again addressed the issue of foreign companies not having bank accounts in Egypt and receiving numerous complaints from these clients regarding banks' refusal to open personal banking accounts for them. This practice poses risks for Egyptian banks and impedes customers' access to financial services and products that require bank accounts, which must adhere to existing rules and regulations. Additionally, the Central Bank requests full compliance with all relevant laws and regulatory measures to combat money laundering and terrorist financing.

The Central Bank of Egypt (CBE) will hold its Board of Directors meeting on July 2, 2024, according to instructions issued by the Banks Supervisory Authority dated August 23, 2011. These guidelines included requiring banks' Boards to periodically review their internal policies every three years at most and update them if necessary, under the supervision of the Banking Supervision Authority, and also updating operational procedures whenever deemed appropriate. The Central Bank has requested compliance with this decision and appreciates your high regard.

Cairo, July 2nd, 2024: The Governor and Chairman of the Bank's Board of Directors addresses you cordially. In accordance with the instructions issued by the Banking Supervision Authority on August 23rd, 2011, and their amendments, as recorded in the Annex No. 11 of November 11th, 2021 relating to the composition of bank boards in order to enable banks to utilize the knowledge and experience of board members in managing their respective institutions efficiently and effectively when making decisions; the Board of Directors of the Central Bank has decided at its Extraordinary Meeting on June 25th, 2024 to amend paragraphs **3** of the aforementioned instructions as follows: - The composition of a bank board must include up to three non-executive directors - by the maximum limit. And in this regard, responsibilities lie with the non-executive directors to oversee high-level governance, and considering that the term of office for a non-executive director should not exceed two terms, or up to a maximum of six consecutive or non-consecutive years, with an option for an additional third term (three years) with strong provisions and upon approval by the Central Bank. I kindly ask you to adhere to **the stated decision.** I also request your highest regard and appreciation.

In a letter dated July 2, 2024, the Chairman of the Board of a bank in Cairo, Egypt, Mr. Hassan Abdullah, refers to the Bank Governance Instructions issued on August 23, 2011. The letter communicates a decision made by the Central Bank's Board of Directors on June 25, 2024, regarding the review and update of internal bank policies and associated work procedures every three years. Mr. Abdullah requests adherence to this decision, emphasizing the importance of ensuring that any revisions are approved by the Board of Directors.

تُعد حوكمة الشركات من أهم ركائز الإصلاح المصرفي، حيث تهدف إلى تعزيز ممارسات الحوكمة السليمة في البنوك، وضمان تحقيق التوازن بين مصالح المساهمين والإدارة العليا وحماية حقوق العملاء. وتتضمن تعليمات حوكمة البنوك أحكاماً عامة حول مجلس إدارة البنك، بما في ذلك التأكيد على أهمية وجود أعضاء مستقلين في المجلس، ودوره في تعزيز ثقافة الحوكمة داخل البنك. كما تتناول التعليمات أهمية وجود ميثاق أخلاقي وآليات للإبلاغ عن المخالفات، بالإضافة إلى ضمان الشفافية والإفصاح في المعاملات. وتتضمن أيضًا تفاصيل حول لجان المجلس، مثل لجنة المخاطر ولجنة المرتبات والمكافآت ولجنة الحوكمة والترشيحات، ودورها في تعزيز ممارسات الحوكمة السليمة. وتؤكد التعليمات أيضًا على أهمية العلاقة بين مجلس الإدارة والإدارة العليا، وتحديد السلطات والمهام بوضوح، وضمان وجود أنظمة رقابة داخلية فعالة.

On July 2, 2024, the Central Bank of Egypt issued a letter to the Chairman of the Board of Directors of a bank, referencing the Bank Governance Instructions of August 23, 2011, and subsequent amendments, including the most recent one from November 11, 2021. The letter announces a decision by the Central Bank's Board of Directors to modify the instructions regarding the composition of bank boards, emphasizing the need for a balance of executive and non-executive members, including at least two independent non-executive members, with a maximum term limit for non-executive members. The letter requests compliance with the decision.

The Central Bank of Egypt has agreed at its scheduled meeting on June 25, 2024, to phase out the temporary waiver for small and medium-sized enterprises (SMEs) regarding applying International Financial Reporting Standards (IFRS 9). This will take place in three stages until December 31, 2025. Additionally, a new rule has been put in place regarding employee loans. If SMEs cannot fulfill the conditions for debt relief/restructuring by January 1, 2026, they must adhere to the following timeline: - By December 31, 2024: A loan balance of not more than 180 days past due is allowed. - Between January 1 and June 30, 2025: A loan balance of up to 150 days past due is permitted. - After July 1, 2025: Employees' loans are to be repaid within a maximum of 120 days past due. - The employment extension period for promoting employees from the third tier to the second tier will apply if all criteria and requirements for the second tier have been met. Loans must be paid off or restructured, with a maximum 90-day grace period by December 31, 2025. The Central Bank of Egypt expresses its deep gratitude and appreciation to all stakeholders involved in this matter.

Dear all, Based on the temporary exemption for unorganized small and medium-sized enterprise (SME) loans from applying International Financial Reporting Standards (IFRS) No. 9, as stipulated in the Annual Report dated December 14, 2021, and the Annual Report dated June 14, 2023 on extending this exemption until June 2024, the Central Bank of Egypt's Board of Directors has decided at its extraordinary meeting held on June 25, 2024 to approve the following: - Gradually end the temporary exemption for SME loans by including employees in the third phase within a period of 18 months until December 2025. This means that these workers will be included in the third phase if they do not meet the conditions for loan deferral agreements, as follows: - Having overdue debts equal to or exceeding 180 days until December 2024; - Having overdue debts equal to or exceeding 150 days until June 2025; - Having overdue debts equal to or exceeding 120 days until December 2025; however, this will only happen if there are outstanding debts of 90 days or more since January 2026. - The employment period in the special program for upgrading employees from the third phase to the second phase, provided that all the required and specified conditions for the second phase are met and payments are settled for a period of 90 days; this will happen until December 2025. I would like to express my sincere thanks. Best regards,

In a letter dated July 1, 2024, the Chairman of the Board of Directors of a bank addresses the gradual phasing out of an exception for classifying Small and Medium Enterprises (SMEs) customers in the third stage of loan repayment over an 18-month period until December 2025. This decision is based on the continued impact of various crises on the economy and the Central Bank of Egypt's commitment to supporting the SME sector in meeting its financial obligations, maintaining operations and production, and preserving employment. The letter also extends the provision for upgrading customers from the third to the second stage of repayment until December 2025 if all quantitative and qualitative elements are met.

The document outlines instructions for Egyptian banks regarding the application of the International Financial Reporting Standard (IFRS) 9 during the COVID-19 crisis. It allows banks to issue abbreviated quarterly financial statements while requiring annual comprehensive statements by the end of their fiscal years. It also addresses the 6-month deferral of credit installments for customers, which should not be considered a significant indicator of increased credit risk. Banks are instructed to review models used for calculating expected credit losses, assess the quality of their information systems, and ensure the accuracy of expected credit loss calculations. The Central Bank of Egypt aims to maintain the stability of banks' financial positions and the quality of their assets.

The document outlines instructions for Egyptian banks regarding the application of the International Financial Reporting Standard (IFRS) 9 during the COVID-19 crisis. It allows banks to issue abbreviated quarterly financial statements while requiring annual comprehensive statements by the end of their fiscal years. It also addresses the 6-month deferral of credit installments for customers, which is not considered a significant indicator of increased credit risk. Banks are instructed to review models used for calculating expected credit losses, assess the quality of their information systems, and ensure the accuracy of expected credit loss calculations. The Central Bank of Egypt aims to maintain the financial stability of banks and ensure the quality of assets.

هذه الوثيقة هي مجموعة من القواعد والشروط التي وضعها البنك المركزي المصري لتنظيم عملية قيد مكاتب المحاسبة ومراقبي الحسابات في سجلاته. وتتضمن الوثيقة شروطًا عامة وقواعد محددة يجب استيفاؤها من قبل مكاتب المحاسبة ومراقبي الحسابات الراغبين في القيد في سجل البنك المركزي. وتشمل هذه الشروط متطلبات تتعلق بالجنسية والمؤهلات العلمية والخبرة العملية، بالإضافة إلى ضرورة استيفاء النماذج والإقرارات المطلوبة وسداد الرسوم المحددة. كما تتناول الوثيقة قواعد عامة يجب على مكاتب المحاسبة ومراقبي الحسابات الالتزام بها، بما في ذلك متطلبات التدريب والتطوير المهني المستمر، وآداب وسلوكيات مهنة المحاسبة والمراجعة. وتنص الوثيقة أيضًا على المساءلة التأديبية لمكاتب المحاسبة ومراقبي الحسابات في حالة مخالفة القواعد والشروط المحددة، بما في ذلك إمكانية توجيه التنبيهات أو إيق

The Central Bank of Egypt's efforts to issue the Internal Control Regulations for Banks were not in vain. The Board of Directors of the Central Bank of Egypt approved the Internal Control Regulations for Banks at its meeting on 19 August 2014. The Regulations aim to ensure that banks comply with the provisions of the Banking Law and its Executive Regulations, the Central Bank of Egypt's decisions in this regard, and the instructions issued by the Central Bank of Egypt's Board of Directors. The Regulations also aim to ensure that banks have an effective internal control system that is commensurate with the nature and size of their business and the risks they face. The Regulations require banks to have an internal control system that includes the following: First: The internal control system in banks should include the policies and procedures that ensure the continuity of the bank's business and the safety of its assets and funds. Second: These policies and procedures should be documented and available to all bank employees. Third: The bank's management should ensure that these policies and procedures are followed by all employees.

The document outlines the requirements for Egyptian banks to prepare an annual report evaluating the effectiveness of their internal control systems. It references relevant laws and guidelines, emphasizing the role of internal auditors in ensuring continuous improvement. Banks are required to submit a report to their audit committee and board of directors for approval, including corrective action plans.

هذه الرسالة موجهة إلى رئيس مجلس إدارة أحد البنوك في مصر، مؤرخة في 7 مايو 2024، وتتعلق بتعليمات حماية حقوق العملاء الصادرة عن البنك المركزي المصري. وتنص التعليمات على ضرورة وجود آلية واضحة للتعامل مع الشكاوى لتعزيز ثقة العملاء في الجهاز المصرفي وزيادة معدلات الشمول المالي. وقرر مجلس إدارة البنك المركزي أن تلتزم البنوك بجميع المتطلبات الخاصة بآلية التعامل مع الشكاوى، بما في ذلك توفير كوادر بشرية مدربة ومؤهلة، وتحديد السلطات المعنية باتخاذ القرارات، وتوفير أنظمة آلية فعالة للتعامل مع الشكاوى. كما يجب على البنوك توعية العملاء بحقوقهم وإتاحة خدمة استقبال الشكاوى مجانًا في جميع المراحل. وتتضمن الرسالة أيضًا نموذجًا استرشاديًا لتقديم الشكاوى.

هذه التعليمات هي تكملة لتعليمات حماية حقوق العملاء الصادرة في فبراير 2019، وتهدف إلى وضع قواعد تنظيمية للتعامل مع الشكاوى في البنوك وتوفير آلية فعالة وعادلة وشفافة ومستقلة. يجب على البنوك وضع آليات واضحة وعادلة وفعالة ومستقلة للتعامل مع الشكاوى، وتوفير خدمة استقبال الشكاوى مجانًا في جميع المراحل. يجب أن تتضمن هذه الآليات توفير الموارد المناسبة، بما في ذلك الموظفين المدربين والبنية التحتية الإلكترونية الفعالة. يجب على البنوك أيضًا تحليل الشكاوى ورفع التقارير عنها، وتحديد المشكلات المتكررة أو المتعلقة بالنظام، واتخاذ الإجراءات التصحيحية. يجب أن يلتزم البنك بمعالجة الشكاوى بسرعة وكفاءة، وتوفير الردود في غضون 15 يوم عمل، مع إمكانية تمديد هذه المدة في بعض الحالات. يجب على البنوك أيضًا إنشاء

The Central Bank's board of directors decided to implement a mechanism for sending account statements to customers either electronically or on paper, ensuring data protection and confidentiality. Banks are required to send account statements to customers every three months, with specific guidelines for both paper and electronic statements. The decision also emphasizes the importance of sustainability by encouraging electronic communication to reduce the environmental impact of the bank's internal activities.

يحدد الفصل السادس من التعليمات قواعد الملكية في رؤوس أموال البنوك والاندماج والانقسام والاستحواذ. ويشمل تعريفات للمصطلحات الرئيسية مثل "الاستحواذ" و"الانقسام" و"الاندماج" و"السيطرة الفعلية" و"الأطراف المرتبطة". كما يحدد قواعد التملك، بما في ذلك متطلبات تقديم الطلبات والموافقات والإفصاحات. وتنطبق قواعد مماثلة على حالات التملك لأسباب غير إرادية. ويلزم المساهمون الرئيسيون بالإفصاح عن أي تغيير في ملكية الأسهم التي تزيد عن 5% من رأس المال المصدر للبنك. كما يحدد الفصل التزامات البنوك، بما في ذلك الإفصاح عن أي مساهم يمتلك أكثر من 5% من رأس المال، ودراسة طلبات الاستحواذ/الاندماج/الانقسام من قبل البنك المركزي.

The chapter discusses the working hours for banks in Egypt. During the week, the public service hours are from 8:30 am to 2:00 pm, except during Ramadan when the hours are from 9:30 am to 1:30 pm. Friday and Saturday are the weekend days. The Central Bank of Egypt has mandated that all banks should extend their service hours until 5:00 pm during official working days, and banks must inform the Central Bank of any changes.

The letter outlines security measures that banks in Egypt must implement when dealing with cash transportation and related services, such as cash counting, sorting, ATM replenishment, and maintenance. Banks must ensure that cash transportation companies adhere to security protocols, including armored vehicles, surveillance cameras, fire safety, and armed guards. Detailed specifications are provided for vault rooms, cash processing areas, and security systems. Banks are responsible for conducting security audits and ensuring compliance with regulations. The guidelines also cover cash handling procedures, such as dual control for vaults, record-keeping, and segregation of cash storage. Companies must have contingency plans and alternative work sites to ensure business continuity during emergencies. Regular staff training and qualifications are emphasized, with a focus on security and cash management.

تحدد هذه التعليمات قواعد ترخيص وتسجيل البنوك الرقمية، بالإضافة إلى الإشراف والرقابة عليها. يجب أن يكون لدى البنوك الرقمية رأس مال مدفوع بالكامل لا يقل عن ملياري جنيه مصري أو ما يعادله بالعملات الأجنبية. يجب أن يكون أحد المساهمين مؤسسة مالية، ويجب ألا تقل نسبة ملكيتها عن 30% من رأس المال. يجب أن يكون لدى البنك الرقمي خطة عمل واضحة، ويجب أن يلتزم باللوائح التنظيمية للبنك المركزي المصري. يجب أن يكون لدى البنك الرقمي أيضًا سياسات لمكافحة الاحتيال وغسيل الأموال وتمويل الإرهاب. يجب أن يتقدم البنك بطلب للحصول على موافقة مبدئية من البنك المركزي المصري، ويجب أن يقدم المستندات المطلوبة. بعد ذلك، يجب أن يتقدم بطلب للحصول على ترخيص، والذي يجب أن يكون مصحوبًا أيضًا بالمستندات المطلوبة. أخيرًا، يجب تسجيل البنك الرقمي في سجل خاص لدى

أصدر مجلس إدارة البنك المركزي المصري تعليمات جديدة بشأن قواعد التملك في رؤوس أموال البنوك والاندماج والانقسام والاستحواذ. ويشترط على طالب التملك تقديم طلب إلى البنك المركزي قبل 60 يومًا على الأقل من إتمام تملك ما يزيد عن 10% من رأس المال المصدر أو حقوق التصويت لأي بنك. كما يجب على طالب التملك نشر طلبه في صحيفتين يوميتين واسعتي الانتشار، إحداهما على الأقل باللغة العربية، وعلى موقعه الإلكتروني (إن وجد). وفي حالة تملك شخص طبيعي أو اعتباري وأطرافه المرتبطة لنسبة تزيد عن 10% من رأس المال المصدر أو حقوق التصويت لأي سبب غير إرادي، يجب تقديم طلب إلى البنك المركزي في غضون 30 يومًا من تاريخ علمه بما آل إليه وأدى إلى زيادة النسبة.

On April 22, 2024, the Governor of the Central Bank of Egypt, Hisham Ramez, will announce the terms for accepting bids in Operation Main, which is a fixed-rate tender process that takes place every week. The rate of the offer will be decided by the Central Bank based on market conditions and global best practices. Ramez also announced that starting April 23, 2024, all bid submissions for Operation Main would be accepted instead of the previous selective bidding process. The results of each operation will be posted on the Central Bank's website. Furthermore, the Central Bank Governor emphasized that he will continue to manage liquidity to maintain equilibrium and match his operating targets, ensuring overnight interest rates between banks average around the fixed rate of the main operation.

In a letter dated April 22, 2024, the Central Bank of Egypt announces a change in the method of accepting bids for its deposit-linking main operation, moving from an allocation method to a full allotment approach starting April 23, 2024. This decision aims to align with international best practices for managing excess liquidity in the banking system and enhancing the impact of monetary policy decisions.

The Central Bank of Egypt took several measures to mitigate the economic impact of the COVID-19 pandemic, including reducing interest rates to stimulate economic growth, postponing credit payments for individuals and small and medium-sized enterprises, and facilitating the use of electronic payment methods.

In a letter dated April 15, 2024, the Central Bank of Egypt announces an increase in the daily cash withdrawal limit for individuals and companies from bank branches to 250,000 Egyptian pounds and from ATMs to 30,000 Egyptian pounds. The bank requests that the recipient review and update their internal policies to reflect these new limits and periodically revise their foreign currency cash withdrawal policies.

Cairo, April 2024: The Governor / CEO of the Central Bank of Egypt, referring to the book published on August 25, 2022 regarding the maximum limits for withdrawal and deposit operations, whether from bank branches or ATMs, as part of the Central Bank's commitment to providing more ease to citizens and companies. He has decided to increase the daily maximum limit for cash withdrawals from bank branches to 250,000 Egyptian pounds per person and company, and from ATMs to 30,000 Egyptian pounds per day. The local policy of your bank will be reviewed to reflect these limits, and there will be an update on the maximum daily withdrawal limit for foreign companies managed by your bank, with a regular review. Please note this notice carefully as it is effective from the date indicated. Kind regards, Hesham Abd El Hameed

أطلق البنك المركزي المصري مبادرات لدعم القطاع الخاص الصناعي والزراعي والمقاولات، بما في ذلك مبادرة عام 2015 التي ركزت على دعم العملاء المتعثرين، ومبادرة عام 2019 التي شملت الشركات العاملة في المجال الزراعي والتصنيع الزراعي وتعبئة المنتجات الزراعية والثروة السمكية والدواجن والحيوانات، بالإضافة إلى شركات المقاولات. كما تم تخصيص 1.2 مليار جنيه مصري لتمويل الدفعة المقدمة للشركات العاملة في مجال السيراميك والبورسلين. وفي عام 2024، وافق مجلس الوزراء على تعديل بعض بنود المبادرة، بما في ذلك خفض سعر العائد إلى 11%. وأخيرًا، في عام 2020، أطلق البنك المركزي المصري مبادرة بقيمة 7 مليارات جنيه مصري لضمان أرصدة الضمانات الصادرة من شركة ضمان مخاطر الائتمان لتغطية نسبة من المخاطر المرتبطة بتمويل الشركات الكبرى.

The Egyptian Central Bank Governor, and the head of Banque du Caire, has informed that the Council of Ministers approved on March 7th a funding initiative for private industrial and agricultural companies. The board of directors of the bank has decided to modify some of the initiative's guidelines starting April 4th, 2024 as follows: 1. The interest rate paid by customers will rise from 11% to 15%, but it may be reviewed within three months or when the loan interest rate and discount rates are adjusted. 2. The maximum loan amount for one client will increase to 100 million Egyptian pounds, up from 75 million Egyptian pounds. This is aimed at allowing the client and related parties to borrow a total of up to 150 million Egyptian pounds. 3. These changes will apply to all new loans and installments starting from now, with the previous 11% interest rate still applicable to used portions in previously agreed-upon contracts, until this decision is implemented (up until the repayment date) considering that there are active credit agreements for medium-term loans and used balances for funding working capital. Note: Please take note of the measures taken in this matter. We also request your acceptance of these changes.

The Central Bank of Egypt's Board of Directors has approved a loan program for small and medium-sized private manufacturing and agricultural companies with a net return rate of 11%. This approval was made in cabinet session number 284, set to be implemented from April 3rd, 2024. The program will now have a borrower's maximum limit raised to 100 million Egyptian pounds, up from the previous 75 million. Additionally, the loan repayment terms have been adjusted, increasing the borrowing capacity of one individual and their affiliated entities to 150 million Egyptian pounds. The new terms will apply to all new loans and some existing ones. Existing interest rates of 11% net return will remain in effect until April 3rd, at which point they will be revised based on loan agreement contracts in place.

In a letter to the Chairman of the Board of Directors of a bank, Mr. Tariq Al-Kholi informs him of amendments approved by the Cabinet of Ministers to an initiative for financing private industrial and agricultural companies. The amendments include an increase in the interest rate to be borne by the customer from 11% to 15%, an increase in the maximum financing limit for a single customer, and the application of these amendments to any new loans and new withdrawals for working capital financing.

تتضمن هذه الوثيقة تعليمات البنك المركزي المصري بشأن إدارة مخاطر التركيز للبنوك العاملة في جمهورية مصر العربية. وتهدف هذه التعليمات إلى تغطية المخاطر الجوهرية الأخرى التي لم تؤخذ في الاعتبار ضمن الدعامة الأولى، مثل مخاطر التركيز، ومخاطر أسعار العائد على المحفظة غير المتداولة، ومخاطر السيولة، والتأكد من توفر رأس مال إضافي كافٍ لمواجهة هذه المخاطر. وتنطبق هذه التعليمات على جميع البنوك، بما في ذلك الفروع الأجنبية، ويجب قياس مخاطر التركيز الائتماني على أساس فردي وفروع البنك في الداخل والخارج، وعلى أساس مجمع للمجموعات المصرفية. ويجب على البنوك تقييم مخاطر التركيز الناشئة عن جميع المخاطر الأخرى، مثل مخاطر السوق والسيولة والتشغيل، بهدف إدارة جميع أنواع مخاطر التركيز المتعلقة بأنشطة البنك المختلفة. ويمكن للبنوك تطبيق طرق داخلية لقياس مخاطر التركيز، ولكن لأغراض إدارة المخ

The chapter outlines the requirements of the second pillar of the Basel II Accords, focusing on interest rate risk for non-trading book positions. It defines interest rate risk, its types, and the need for issuing instructions on interest rate risk management for non-trading book positions. The scope of application includes all banks operating in Egypt, including branches of foreign banks, and the measurement of interest rate risk for non-trading book positions according to the standard approach. The chapter also covers essential concepts and criteria for distinguishing between trading and non-trading portfolios. It highlights sources of interest rate risk for non-trading book positions and their effects. The chapter details the supervisory role of the board of directors, the separation of duties and responsibilities, and internal control requirements. It also outlines the measurement of interest rate risk for non-trading book positions based on economic value of equity and earnings at risk. Finally, it discusses the role of the Central Bank of Egypt and provides rules for the standard approach to measuring interest rate risk for non-trading book positions.

هذه الوثيقة هي تعليمات من البنك المركزي المصري حول متطلبات اختبارات التحمل للبنوك. وتهدف اختبارات التحمل إلى تقييم قدرة البنك على مواجهة الصدمات والأزمات في ظل الظروف غير المواتية. يجب على جميع البنوك، بما في ذلك فروع البنوك الأجنبية، إجراء اختبارات تحمل شاملة وتفصيلية بانتظام. وتغطي التعليمات نطاق التطبيق، وأهداف اختبارات التحمل، ومتطلبات برامج اختبارات التحمل، واختيار السيناريوهات والمنهجيات، ومراجعة وتقييم برامج اختبارات التحمل، ومتطلبات الحوكمة. يجب على البنوك تقديم تقرير سنوي إلى البنك المركزي المصري حول برامج اختبارات التحمل، بما في ذلك البيانات الأساسية، وملخص التقرير، ومتطلبات إعداد وتصميم البرامج، والنتائج، ومراجعة وتقييم البرامج، ومتطلبات الحوكمة.

In summary, the guidance provided by the Financial Action Task Force (FATF) on identifying the characteristics of money launderers in sectors where they are most likely to operate involves several key factors. These include: 1. Identifying individuals or groups who may have access to large sums of money and a motive for money laundering, such as criminals, corrupt officials, terrorists, or organized crime groups. 2. Understanding the methods used by these individuals or groups engage in illicit activities, which are often linked to money laundering. 3. Recognizing the different stages of money laundering: a) The placement stage, where the launderer introduces large amounts of cash into the economy. b) The conversion stage, where the launderer transforms the illicit funds into another form (such as changing dirty currency to clean new one). c) The integration stage, where the launderer incorporates the laundered money into the legitimate economic system. 4. Identifying suspicious activities such as unexplained wealth, frequent large transactions, and maintaining multiple bank accounts for no apparent reason. 5. Developing an understanding of the various methods by which criminals and terrorist organizations finance their activities. This includes recognizing how they may attempt to exploit vulnerabilities within a banking system. 6. Recognizing the importance of international cooperation in combating money laundering, by sharing information and experiences between different countries and financial institutions.

The letter informs the Chairman of the Board of Directors of a bank about regulatory controls to combat money laundering and terrorist financing. It emphasizes the need to update customer data, documents, and information regularly, with a maximum interval of five years. The Central Bank's Board of Directors has approved a decision outlining the procedures banks must follow when updating customer data, including individual and corporate clients. The letter also highlights various provisions, such as not charging customers for delays and allowing updates at any bank branch, to ensure a unified approach across the banking sector and protect customer rights.

أصدر البنك المركزي المصري تعليمات جديدة للبنوك بشأن متطلبات تقارير اختبارات التحمل، والتي تهدف إلى تقييم قدرة البنك على مواجهة الصدمات والأزمات. ويجب على البنوك إجراء اختبارات تحمل شاملة وتفصيلية بانتظام، بما في ذلك اختبارات الحساسية والسيناريوهات، لتقييم تأثير الصدمات على المركز المالي للبنك. ويجب أن تغطي اختبارات التحمل جميع المخاطر الجوهرية، مثل مخاطر الائتمان والسوق والسيولة، مع مراعاة العوامل مثل حجم البنك وتعقيد أنشطته وهيكل ملكيته. ويجب أن تكون اختبارات التحمل متكاملة مع ثقافة إدارة المخاطر بالبنك، ويجب أن تتضمن السيناريوهات الشديدة لتقييم قدرة البنك على الاستجابة السريعة. كما يجب أن تأخذ في الاعتبار مخاطر التركيز ومخاطر أسعار العائد للمراكز المحتفظ بها لغير أغراض المتاجرة. ويجب أن تكون هناك عملية مراجعة وتقييم فعالة

On March 11, 2024, the Central Bank of Egypt extended the exemption period for rice, beans, and lentils from the cash cover requirement for import transactions for trade purposes by one year, until March 15, 2025. This decision aims to facilitate import procedures and meet the needs of the Egyptian market and its citizens. The decision applies to all import transactions of all companies, subject to the credit study conducted by each bank.

يحدد البنك المركزي المصري متطلبات ائتمانية للبنوك لتعزيز الاقتصاد الوطني وتشجيع المنتجات المحلية. ويشمل ذلك شرط الحصول على تأمين نقدي بنسبة 100% لخطابات الاعتماد التي تُستخدم لتمويل الواردات، مع استثناءات محددة للسلع الأساسية والمنتجات الطبية. كما يُحظر استخدام التسهيلات الائتمانية لتأمين الواردات، ويُشترط تغطية الواردات من خلال العملة الأجنبية. وتُطبق قواعد مصرفية عادية على الواردات الرأسمالية أو مستلزمات الإنتاج. وتُطبق هذه المتطلبات على الواردات التي تتم اعتبارًا من يناير 2016، مع استثناءات للشركات الصغيرة والمتوسطة التي تستورد السلع الغذائية الأساسية. كما يُسمح للبنوك باستثناء الأرز والعدس من متطلبات الغطاء النقدي حتى مارس 2025.

In a letter dated March 6, 2024, the Chairman of the Board of a bank in Cairo, Egypt, addresses efforts to meet customer foreign currency needs through the banking sector and regulate the foreign exchange market. The letter requests strict adherence to reviewing reports on foreign currency provisioning requests submitted regularly to the Central Bank, using the prevailing exchange rate on the execution day. It also emphasizes the removal of requests that customers refrain from executing. Banks are urged to scrutinize these reports and cleanse data to ascertain the actual volume of foreign currency provisioning requests.

The chapter discusses the prohibition of banks accepting their own shares as collateral or dealing with them, as well as the regulations for liquidating movable or immovable property that has been transferred to the bank in satisfaction of debts owed by others. It also highlights the importance of adhering to these regulations to ensure the proper management and liquidation of assets.

The Central Bank of Egypt's Board of Directors approved guidelines for auditors reviewing the financial statements of clients applying for bank credit facilities. These guidelines include requirements for auditors to be registered, have a minimum of five years of experience, and be independent of the client. The guidelines also specify the types of audits that must be conducted and the documentation that must be provided.

The Central Bank of Egypt has issued guidelines for the use of alternative data in credit scoring for micro, small, and medium-sized enterprises. These guidelines allow banks to grant financing to these businesses without requiring audited financial statements, provided they use digital assessment models that analyze customer behavior, social data, and financial and non-financial transactions. The maximum annual revenue for eligible businesses is set at 20 million Egyptian pounds, and the financing must be in local currency. Banks are required to develop policies and procedures for these models, which must be approved and periodically reviewed by their boards of directors.

Chapter VIII of the law outlines the requirements for expert houses to be eligible for evaluating guarantees presented to banks. Article 68 of the Central Bank, Banking System, and Currency Law No. 88 of 2003, along with Articles 22-25 of its executive regulations, set forth the rules, conditions, and procedures for registering expert houses with the Central Bank. The chapter also outlines the responsibilities of those in charge and holds these houses accountable for the accuracy of their evaluation reports.

The Central Bank is concerned about the quality of assets in the banking sector and has decided to unify practices regarding the management and write-off of non-performing loans in line with international best practices. Banks are required to include specific rules and procedures for writing off non-performing loans in their internal policies, emphasizing the instructions of IFRS 9 and the fundamentals of creditworthiness and provisioning. The write-off period for non-performing facilities is a maximum of 3 years, with efforts made to recover as much of the debt as possible during this time.

The text outlines regulations for granting credit, specifically for real estate financing. It mentions allowing specialized banks and mortgage finance companies to provide financing for real estate projects, with certain conditions and controls in place. These include a maximum loan-to-value ratio of 10% and a requirement for the borrower to contribute a minimum of 10% of the property value.

Banks must consult with the Central Bank of Egypt before filing criminal charges against customers. If a bank suspects a customer of committing a crime, it must first obtain the approval of the Central Bank of Egypt and provide a detailed report on the incident, including any negligence or fraud that occurred, the actions taken by the bank, and measures to prevent similar incidents in the future. This process is outlined in the letters from the Vice Governor and Governor of the Central Bank of Egypt, dated October 29, 2000, and March 30, 2000, respectively.

The chapter outlines regulations for banks to follow when using securities as collateral for secured loans, with the aim of preventing fraud and ensuring stable transactions in the securities market while protecting the rights of banks and traders. It emphasizes the importance of verifying ownership of the securities offered as collateral before granting credit and outlines the required documents for registering and lifting a lien on securities, as well as the procedures for selling pledged securities if the borrower defaults on their loan obligations.

The text appears to be a set of guidelines or regulations related to the classification of economic activities for banking clients. It mentions the International Standard of Industrial Classification of All Economic Activities (ISIC) and provides details on various aspects of the classification process. The document includes several forms or templates that seem to be related to the implementation of the guidelines.

The Central Bank of Egypt's board of directors approved the rules for assessing the creditworthiness of customers and forming provisions at its meeting on May 24, 2005. The rules were published in the Central Bank's 1991 manual. The Central Bank of Egypt's board of directors emphasized the need for banks to review their policies on creditworthiness assessment and provision formation, as well as when forming provisions for creditworthiness when granting loans. The rules cover the management of credit risk and the principles of creditworthiness assessment and provision formation for all types of customers, including individuals, companies, and medium-sized, large, and very large enterprises, as well as real estate loans, personal loans, and loans for the purchase of consumer goods. The rules on provision formation are based on the Central Bank's instructions to banks, which took effect on September 1, 2005. The Central Bank of Egypt's board of directors emphasized the need for banks to adhere to these instructions and inform the Central Bank of Egypt of any changes to their policies on creditworthiness assessment and provision formation within three months of the end of the fiscal year.

The document outlines regulations for credit facilities and leasing companies in Egypt. It includes general guidelines and specific rules for financing leasing companies, such as limits on the percentage of a bank's portfolio that can be allocated to leasing companies and conditions for financing them. The instructions are effective from the date of the circular and require banks to gradually reduce existing investments that exceed the prescribed limits, providing a corrective plan to the Banking Supervision Sector within 3 months and a quarterly report on the status of these investments.

In a letter dated February 29, 2024, the Chairman of the Board of Directors of a bank communicates several decisions made by the central bank's board during its meeting on February 20, 2024. These decisions outline requirements that the bank must adhere to when dealing with certain companies. The letter emphasizes the importance of compliance and requests the recipient's attention to ensure adherence to the outlined directives.

Alright, I'll try to simplify this for you so that it is easier for a beginner to understand. Here are the main ideas: 1. If you see someone in need and they don't ask you directly for help, assume they need your help but might be too shy or embarrassed to ask. 2. If someone is asking for something repeatedly, especially if it is something essential like food or medicine, try to assist them as soon as possible. 3. Don't judge people based on their appearance or the way they speak. They might have gone through difficult situations that changed them. 4. Be kind and helpful to everyone, especially those who seem lost, confused, or need directions. 5. If you see someone sleeping on the street, consider offering them food, water, or a warm blanket. 6. If you witness an accident, try your best to help the victim(s) until professional help arrives. 7. When driving, always be cautious and mindful of pedestrians, especially children, as they could suddenly step into the road. 8. Be kind to animals too, especially strays who might not have anyone looking out for them. 9. If you see any garbage on the street, pick it up and throw it in a bin. Keep your surroundings clean. 10. Don't hesitate to report any suspicious activity or individuals to the authorities. Your help could prevent harm or loss to others. Remember that even small acts of kindness can make a big difference in someone's life. Always try to be helpful, compassionate, and considerate towards others.

In a letter dated February 11, 2024, addressed to the Chairman of the Board of Directors of a bank in Cairo, Egypt, Mr. Tarek El-Wazzan emphasizes the importance of adhering to the guidelines for the use of credit cards for international travel. He references a previous circular dated October 29, 2023, which established regulations for the use of credit cards abroad and outlined the necessary actions to be taken in case of non-compliance. Mr. El-Wazzan reiterates that banks are required to block credit cards and report individuals who fail to comply with the regulations to the credit information company and the Central Bank's credit registration system.

In Cairo on February 11, 2024, the Governor of the Bank of Egypt and Chairman of the Bank Supervisory Committee announced a halt to the use of foreign-issued credit cards for travel abroad. The announcement follows an examination of foreign credit card usage regulations concerning overseas travel and follows discussions with stakeholders regarding restrictions on such cards. The Central Bank will monitor this closely, and in case the situation does not improve or worsens, additional measures may be taken. According to Al-Wolli, Governor of the Central Bank of Egypt, the decision was due to increased concerns about financial integrity and the potential risks posed by foreign credit cards.

On February 11, 2024, the Governor of the Central Bank of Egypt will discuss the following: 1. The decision to suspend and remove travel credit card providers who fail to comply with the updated guidelines set by the Central Bank. A new travel credit card system or opening up the existing ones for eligible financial institutions should be considered. 2. The Central Bank's plan to halt international use of credit cards by registered banks as part of a broader effort to combat fraud, particularly in Egypt's tourism industry. 3. Emphasize that there is no change in the existing instructions, and the suspension or cancellation will only apply to violators who do not follow the new guidelines, with the aim of improving Egypt's tourism sector.

In a letter dated January 18, 2024, the Egyptian Central Bank's Board of Directors approved an extension of the mandatory lending requirements for banks to increase their loan portfolios for micro, small, and medium-sized enterprises. The extension will last for one additional year, ending on December 31, 2024. Banks are also granted full freedom to obtain appropriate guarantees for credit facilities granted, including taking post-dated checks if necessary.

يحدد البنك المركزي المصري تعريفًا موحدًا للشركات والمنشآت متناهية الصغر والصغيرة والمتوسطة، ويطلب من البنوك توفير بيانات وافية ودقيقة عن هذا القطاع. ويحدد البنك المركزي المصري أيضًا النسبة الإلزامية الموجهة لتمويل هذه الشركات والمنشآت، والتي يجب ألا تقل عن 20% من إجمالي محفظة التسهيلات الائتمانية للبنك. ويشجع البنك المركزي المصري البنوك على تمويل هذه الشركات والمنشآت من خلال مبادرات مختلفة، مثل إعفاءات ضريبية وتسهيلات ائتمانية بأسعار فائدة منخفضة. كما يطلب البنك المركزي المصري من البنوك إنشاء وحدات تنظيمية متخصصة في تمويل وتقديم الخدمات المصرفية لهذه الشركات والمنشآت، مع التأكيد على أهمية دور المعهد المصرفي المصري في تدريب وتأهيل القائمين على هذه الشركات والمنشآت.

In Cairo on January 18, 2024, the Chairman/Chairman of the Board of Bank Al-Takamul stated that, taking into account the published Annual Report on February 22, 2021, which mandated banks to increase their reserve funds and guarantee facilities (direct and indirect) for small, micro, and medium-sized enterprises at a rate of up to 10%, 20% or 25% according to the Central Bank in December 2020. Furthermore, referring to the annual report dated December 15, 2022, concerning the validity period of these mandates as per the published Annual Report on February 22, 2021, which originally had a one-year term ending December 31, 2023, the Central Bank Board meeting held on January 16, 2024 approved the following measures: 1. Extending the duration of the aforementioned rules by one year until December 31, 2024, requiring banks to achieve a 25% reserve ratio in accordance with the Central Bank as of December 31, 2020 for small, micro, and medium-sized enterprises. Allocating 10% of this amount for funding small businesses, valid for an additional year ending December 31, 2024. 2. Providing full flexibility to banks in fulfilling all types of guarantees related to the allocated indirect loan guarantee facilities in line with the unsecured studies conducted for clients, as well as obtaining certificates if necessary. 3. Continuing the remaining provisions that were not amended. Please note the importance of compliance with what has been stated. I respectfully request your high regard and understanding.

Cairo, Egypt: On January 18, 2024, the Governor of the Central Bank of Egypt addressed the amendment to the bank's previous regulations from February 22, 2021. These changes included increasing the loan guarantee scheme for small, micro, and medium enterprises (SMEs) by 5% to 25%, effective until December 31, 2023. The Central Bank of Egypt's Board of Directors in its meeting on January 16, 2024, also approved the following: 1. Extending the implementation period of these measures for one year, ending on December 31, 2024; this includes a 25% loan guarantee scheme for SMEs and allocating 10% of that for small enterprises until December 31, 2024. 2. Allowing banks full freedom to satisfy all loan guarantees related to the covered credit facilities for SMEs and receiving certificates if required. 3. Continuing other provisions that have not been addressed. The Central Bank of Egypt kindly requests compliance with these measures, and respectfully asks for high esteem.

أصدر البنك المركزي المصري تعليمات جديدة للبنوك العاملة في مصر بشأن مكافحة غسل الأموال وتمويل الإرهاب. وتتضمن التعليمات الجديدة إلغاء الضوابط الرقابية الصادرة عن البنك المركزي عام 2008 وإصدار ضوابط رقابية جديدة للبنوك بشأن مكافحة غسل الأموال وتمويل الإرهاب. وتمنح التعليمات الجديدة البنوك فترة ستة أشهر لتوفيق أوضاعها من تاريخ صدور الضوابط. وتتضمن التعليمات الجديدة تعريفات للمصطلحات المستخدمة، مثل "العميل" و"الترتيب القانوني" و"المستفيد الحقيقي"، وتحدد نطاق سريان الضوابط. كما تتناول الحوكمة، وتقييم مخاطر غسل الأموال وتمويل الإرهاب، والسياسات والإجراءات والضوابط الداخلية، والعناية الواجبة بالعملاء، والمراقبة المستمرة للعمليات، ومتطلبات الإخطار عن العمليات المشتبه فيها، والتدريب في مجال مكافحة غسل الأموال وتمويل الإرهاب،

ينظم الفصل الثالث قواعد شركات الاستعلام والتصنيف الائتماني، بما في ذلك تعريفاتها، ونطاق تطبيقها، وقواعد وإجراءات الترخيص، ومتطلبات الحوكمة، والرقابة الداخلية، والإفصاح والشفافية، وحماية حقوق العملاء، وقواعد تشغيل ومعالجة البيانات، والرسوم وأسعار الخدمات، والجزاءات. يجب أن تتخذ الشركة شكل شركة مساهمة مصرية، ويجب أن يكون جميع أسهمها اسمية. يجب ألا يقل رأس مال الشركة عن 200 مليون جنيه مصري، ويجب ألا يتعارض الترخيص مع المصلحة الاقتصادية العامة للدولة. يجب أن تلتزم الشركات بسداد رسم رقابة سنوي قدره 100 ألف جنيه مصري. يجب أن يتقدم ذوو الشأن بطلبات الترخيص إلى البنك المركزي. يجب أن يتضمن مجلس إدارة الشركة عددًا مناسبًا من الأعضاء المؤهلين، بما في ذلك سيدتان على الأقل، ويجب أن يكون رئيس مجلس الإدارة عضوًا غير تنفيذي. يجب أن تلت

أصدر البنك المركزي المصري تعليمات جديدة لتنظيم عمل شركات الاستعلام والتصنيف الائتماني، والتي تشمل قواعد الترخيص والرقابة والإشراف على هذه الشركات. وتتضمن التعليمات الجديدة تعريفات واضحة للمصطلحات المستخدمة، ونطاق التطبيق، وقواعد عامة، وإجراءات الموافقة المبدئية والنهائية، وتعديل البيانات، ووقف نشاط الشركات أو تصفيتها، ومتطلبات الحوكمة، وضوابط تعيين المسؤولين الرئيسيين، وقواعد التملك في رؤوس أموال هذه الشركات، والقواعد المنظمة للعلاقة بين الشركة والمتعاملين معها، وحماية حقوق العملاء، وقواعد تشغيل ومعالجة البيانات، ودقة واتساق البيانات، وبحوث السوق، ورقابة البنك المركزي على هذه الشركات، والرسوم وأسعار الخدمات، والجزاءات. كما تضمنت التعليمات الجديدة مرفقات توضح المستندات المطلوبة للحصول على الموافقة المبدئية لمزاولة نشاط الاستعلام والتصنيف الائتماني، والقواعد المنظمة للإقرار عن

In Cairo on November 22, 2023, the Head/Chairman of the Board of Bank El Tatweer announced: Following the Anti-Money Laundering Law No.80 for the year 2002 and its amendments, I intend to amend the implementing regulations referred to by the Cabinet decision number 5331 for the year 2023, which has been published on the Central Bank's electronic website (eg.org.cbe.www), where you can view them via the following links: Main Page - Anti-Money Laundering - Related Laws. Please be informed and review them with great respect.

On November 22, 2023, a letter was addressed to the Chairman of the Board of Directors of a bank in Cairo, Egypt, informing him of amendments to the executive regulations of the Anti-Money Laundering Law (No. 80 of 2002) by virtue of the Prime Minister's Decision No. 3331 of 2023. The amended regulations have been published on the website of the Central Bank of Egypt and can be accessed via a provided link. The letter was signed off with respectful regards.

The chapter discusses the regulatory framework for financial inclusion in Egypt, aiming to integrate citizens, companies, and micro-enterprises into the formal financial system. Simplified rules for customer due diligence and anti-money laundering/counter-terrorism financing (AML/CTF) requirements are introduced for targeted groups, with low-risk banking products and services designed accordingly. The Central Bank of Egypt and the Anti-Money Laundering and Terrorist Financing Unit have issued instructions for these regulations, defining financial inclusion products/services and their beneficiaries. The maximum transaction and account balance limits for financial inclusion accounts are set, with procedures outlined for approval of technology-based products/services. The chapter also provides clarifications on simplified customer due diligence procedures and highlights key aspects of the regulatory framework.

These rules regulate mobile payment services in Egypt. They cover strategic, operational, and compliance risks, and outline the responsibilities of the bank's board of directors and senior management. The rules also include provisions on information security, customer identification, and anti-money laundering and counter-terrorism financing measures.

The chapter outlines the rules governing prepaid card payment services in Egypt. It defines key terms and outlines the responsibilities of the board of directors and senior management in overseeing the development and implementation of strategies related to these services. The chapter also highlights the risks associated with prepaid card payment services and the measures that banks must take to manage these risks effectively. It emphasizes the importance of customer due diligence, data security, and compliance with anti-money laundering and counter-terrorism financing regulations. The chapter further details the issuance of prepaid cards, the role of service providers, and the need for banks to establish clear contracts with customers outlining their rights and obligations. It also addresses incident response and management, performance considerations, data confidentiality, and customer security. Finally, it provides guidelines for obtaining a license to offer prepaid card payment services and outlines the process for banks to align their operations with the established rules and regulations.

In a letter dated November 15, 2023, the National Bank of Egypt announced an increase in the daily and monthly transaction limits for financial inclusion accounts, prepaid cards, and mobile payment services. The new limits are effective immediately and apply to both individuals and micro-enterprises, with the daily limit increased to 60,000 EGP and the monthly limit to 200,000 EGP for individuals. The letter also emphasizes the continued validity of other provisions in the referenced regulatory instructions.

The Central Bank of Egypt has increased the daily and monthly transaction limits for personal and non-corporate accounts, as well as corporate small entities with no evidence documents, proof of address, or where a third party cannot be confirmed. Daily limits are raised to 60,000 EGP (up from 30,000) and monthly limits are increased to 200,000 EGP (from 100,000). This increase follows the Central Bank's Third Definition of Non-Corporate Entities eligible for mobile payment services. These changes apply to all remaining provisions outlined in prior directives, as per the statement issued.

On October 29, 2023, the Central Bank of Egypt issued a letter to the Chairman of the Board of Directors of a bank, outlining new regulations regarding the management of non-resident accounts and foreign currency transfers. The letter mandates the opening of accounts for non-resident travelers, with specific requirements for account opening and maintenance. It also outlines procedures for banks to follow in case of non-compliance, including account suspension and reporting to the Central Bank. The letter emphasizes the importance of adhering to these regulations and states that further implementation guidelines will be provided subsequently.

Dear All, As per the recommendations of the Central Bank, in light of the decisions taken by the Monetary Policy Committee to reduce the reserve requirement ratio (RRR) by 1% for banks with a balance sheet size less than or equal to KD 5 million, and by 2% for banks with larger balances, I would like to kindly request your attention to the following: - The reduction in RRR will be effective starting from October 29, 2023. - The decision is made considering the financial inclusion strategy and aims at enhancing accessibility to finance for the general public as follows: 1. Banks are required to maintain a minimum interest rate on deposits. 2. Authorized banks should increase their Score-I rating of this type of clients to ensure that the interest rates offered by them would be in line with the new RRR rates. 3. The CBR will closely monitor the financial institutions and implement measures if necessary to protect the interests of small customers. Thank you for your attention and cooperation, Sincerely, The Governor of the Central Bank.

The letter informs the addressee of the Central Bank's decision to allow banks to include net interim profits in their Tier 1 common equity when calculating their capital adequacy ratio. This decision is in line with Basel III regulatory reforms and international best practices in banking supervision. The change aims to enhance the regulatory treatment of certain capital items, allowing banks to include net profits/losses in their core capital calculations.

يتضمن هذا الفصل معايير كفاية رأس المال، بما في ذلك الشروط العامة للتطبيق، مثل استبعاد الأصول غير المعتد بها وتلك التي تُخصم من القاعدة الرأسمالية، وإدراج البنود وفقاً لما أقرته الجمعية العامة للبنك دون الحاجة إلى موافقة البنك المركزي المصري، وضرورة الحصول على موافقة البنك المركزي المصري لإدراج الأدوات في رأس المال الإضافي. كما يتناول الفصل كيفية احتساب الدعامات التحوطية، والعناصر التي يتم خصمها أو لا يعتد بها، والتعديلات الرقابية على رأس المال، والمعايير العامة لإدراج الشريحتين الأولى والثانية في القاعدة الرأسمالية.

Dear Sir/ Chairman of the Bank Board, Greetings, By referring to the guidelines issued under Basel III, which amend existing rules for calculating the Core Tier 1 Capital ratio, it was decided at a meeting of the Bank's board on October 24th, 2023: "In line with Basel III, under the CET1 capital ratio, banks can include net income statements as part of their ongoing core capital. This is a first for this type of balance sheet account tracking, with a cap on the amount of regulatory accounts for financial institutions." Respectfully,

In a letter dated October 23, 2023, addressed to the Chairman of the Board of Directors of a bank in Cairo, the writer refers to previous circulars regarding the reduction of the follow-up period for receiving export proceeds for gold transactions to 7 working days from the date of shipment. Certain exceptions were also noted, including gold exported for foreign manufacturing and then re-imported or imported for local manufacturing, with a 30-day follow-up period for receiving export proceeds. The writer informs that gold jewelry exports will now be added to these exceptions, with banks required to verify the authenticity of export transactions and accept proceeds in cash or gold.

Cairo, October 23, 2023: The Governor/Chairman of the Central Bank of Egypt has announced that in line with the recorded reports on December 18, 2022 and April 5, 2023, which shortened the reporting period for gold exports to seven business days from the shipping date, exceptions including the export of unprocessed gold to be reimported and re-exported or domestically processed gold will remain at a 30-day reporting window from the shipping date. The Governor/Chairman has also informed that additional measures related to gold exports could possibly be added to those mentioned earlier, while requiring banks to follow mandatory procedures to verify the legitimacy of export transactions according to each case. Kindly refer to the guidelines provided earlier. Respectfully, Yours Sincerely,

In a letter dated September 13, 2023, the Egyptian Financial Regulatory Authority requested that banks use authenticated email communication for transmitting certificates regarding company capital payments, instead of regular mail or bank representatives. The Authority has created and activated an email address, eg.gov.fra@Bankcertificates, for receiving these certificates. The letter also requested that banks provide the Authority with their designated email addresses and authorized signatories for this purpose, along with their contact information.

In Cairo on September 13, 2023, the esteemed Dr. Ayman Ahmed, Chairman of the Financial Supervisory Authority (FSA), announced that banks must start submitting certified documents electronically directly with the FSA instead of using regular mail or couriers. The FSA will establish and activate an official electronic email address for this purpose (e.g., gov.fra@Bankcertificates). Bank representatives are requested to confirm their designated bank's electronic approval address, signatories, and responsible parties for submitting these documents and special communication channels.

تتضمن هذه الوثيقة تعليمات لتسهيل حصول ذوي الإعاقة والأميين وكبار السن على الخدمات والمنتجات المصرفية. وتنص على قواعد عامة وإجراءات العناية الواجبة ومبادئ العدالة والإنصاف، بالإضافة إلى تهيئة البنية التحتية للعملاء من ذوي الإعاقة وتدريب العاملين. كما تحدد فترة لتوفيق الأوضاع. وتنطبق هذه التعليمات على العملاء من ذوي الإعاقة والأميين وكبار السن، مع استثناء الأشخاص الذين لديهم قصور أو خلل كلي أو جزئي ذهني أو عقلي.

Here is the Arabic text of the letter translated to English: "I would like to inform you that the FDIC, the federal deposit insurance agency, has taken several actions to protect your deposits. Among these measures are the following: 1- **The first action:** The FDIC will cover all accounts up to $250,000 per depositor, for both individual taxpayers and small businesses. 2- **The second action:** The FDIC is working closely with the institutions that have received funds from the U.S. Treasury's Coronavirus Capital Purchase Program (CCPPP). This measure will enhance the capacity of these financial institutions to meet their obligations. 3- **The third action, concerning due process and fairness:** The FDIC has empowered banks to assist customers with assistance from within the branch and also provide such assistance upon completion of appropriate paperwork and compliance models for employees. This is done by at least two bank employees along with witnesses if requested by a customer. 4- **The fourth action, regarding transparency and accountability:** The FDIC has published the supervisory practices that banking personnel will follow after receiving their approval - audibly or visually - for all transactions that take place within the branch and make them publicly available at any time and ensure they are insured. 5- **The fifth action, regarding infrastructure establishment:** The FDIC has allowed branches to offer single check withdrawal services for seniors without the need for waiting and providing separate sequential account numbers for non-regular customers. 6- **The sixth action, concerning infrastructure establishment:** The FDIC allows home visits by bank personnel to elderly customers to provide banking services, subject to the imposition of guidelines and procedures for these visits, as well as the possibility of using mobile electronic channels to reach them if necessary. I kindly ask you to abide by what has preceded, within one month from the date hereof."

In an effort to enhance financial inclusion and ensure that all segments of society have access to banking services, the Egyptian Central Bank has issued instructions to facilitate banking services for the elderly (65 years and above) and illiterate customers. These include updating customer databases to reflect these categories, accepting stamps and fingerprints as valid signatures, allowing customers to seek assistance from bank employees when filling out forms, and documenting banking transactions through audio or visual means with the customer's consent.

In a letter dated December 25, 2022, the Central Bank of Egypt announces an extension of two initiatives to support the tourism sector: the Tourism Sector Support Initiative and the Retail Loans Initiative for Tourism Workers. The extensions, valid for three additional months until March 31, 2023, allow banks to continue accepting requests for payment deferrals while maintaining the existing terms of the initiatives.

On December 25th, 2022, the Governor and Chairman of the Board of Central Bank of Egypt announced the following decisions: 1. A three-month extension of the Sector Support Initiative for companies working in the tourism sector to end by March 2023, with no additional requests accepted after this period for deferring bank meetings with respect to the aforementioned initiative. 2. A three-month extension of the Tourism Employees Loan Programme to also end by March 2023. Banks will be allowed to reschedule loan repayments until January 30, 2023, for real estate loans, and for all other tourism employees working at Central Bank 2022, with the extension of these provisions applying only to existing employees in the sector. 3. No change will be made to the existing repayment timetables. 4. In accordance with IFRS9 (International Financial Reporting Standards), banks must ensure compliance with these standards. 5. The deferral of bank meetings for tourism industry employees who have been participating in the Tourism Employees Loan Programme since December 7, 2015, is allowed. Please note this as a matter of obligation **from its date**. Accept our highest regards,

On July 24th, 2023, in Cairo: The Bank of Alexandria's board of directors have decided to discontinue the low-yielding program called "Goodbye Deposit," and will now focus on long-term deposits and following the established guidelines. They request that all banks follow this decision as per the Council of Ministers' approved resolution dated July 5th, 2023. The Bank of Alexandria is currently in the process of preparing to issue a new deposit with higher interest rates, effective every three months or sooner depending on market conditions and interest rates. The council kindly requests compliance with this decision, considering it from its date of approval.

In Cairo on July 24, 2023, the Governor of the Central Bank of Egypt (CBE) will hold a conference on the future of the Egyptian economy. The conference aims to discuss and assess the current state of Egypt's economy and how to address its challenges. The Central Bank plans to amend regulations in order to enhance economic growth and financial stability. In this context, the CBE has requested approval from the Council of Ministers for a new draft law on canceling the previously established program, known as the "Suez Canal Economic Zone" initiative. This decision is due to its negative impact on Egypt's economy. As a result, there will be no new funding in this area, and the government will proceed with the implementation of the new policy and the amendment of related laws. It is also essential to comply with the decisions mentioned herein, starting from their respective dates. Your sincere cooperation is highly appreciated.

On July 24, 2023, a letter was sent to the Chairman of the Board of Directors of a bank in Cairo, Egypt, regarding a previous circular and a decree by the President of the Republic. The letter communicates that the Egyptian Cabinet, in its session held on July 5, 2023, approved the cancellation of the low-interest initiative for tourism development. As a result, no new financing should be granted under this initiative, pending the issuance of a presidential decree. A new initiative will be coordinated between the Ministries of Finance and Tourism to support the tourism sector.

This document, issued by the Central Bank of Egypt, outlines the rules for licensing, registration, supervision, and oversight of digital banks. It regulates the licensing process, defines the scope of services, and details supervision and oversight rules. It also covers procedures for revoking licenses, suspending operations, and deregistration. Digital banks and foreign branches must comply with all regulatory rules and instructions from the Central Bank, including specific rules on deposits, credit facilities, and anti-money laundering and terrorist financing.

On June 26, 2023, in Cairo, Dr. Al-Astaz, the Head of Board at Bank Al-Ahly, will address the following: Linking to the periodic report published on January 9, 2018, concerning monitoring social entitlements and beneficiaries; Request cooperation with the Social Insurance Authority in matters related to these accounts and notify them, as well as confirming adherence to Article (297) of the implementation regulations of the Social Insurance Law No. 148 for the year 2019.

In a letter dated June 26, 2023, addressed to the Chairman of the Board of Directors of a bank in Cairo, Mr. Gamal Najm requests the recipient's attention regarding the monitoring of pension accounts and their beneficiaries. He refers to a previous circular issued in January 2018 on the same matter and emphasizes the importance of ongoing coordination with the National Social Insurance Authority. Mr. Najm also stresses the need to comply with Article 297 of the Executive Regulations of the Social Insurance and Pensions Law No. 148 of 2019.

In a letter dated June 14, 2023, the writer informs the addressee, the Chairman of the Board of Directors of a bank, that the Central Bank of Egypt has approved an extension of the temporary amendment regarding the treatment of non-performing loans for small and medium-sized enterprises until the end of June 2024. This extension aims to support this vital sector in continuing its operations and production amidst ongoing challenges and economic crises. The letter also outlines specific conditions for customer inclusion and upgrading in relation to loan repayment and adherence to contractual obligations.

On June 14, 2023, the CEO of the Small and Medium Enterprises Development Bank, Egypt stated that due to the ongoing impact of various economic systems on small and medium-sized enterprises (SMEs), the Central Bank of Egypt's board has approved two main points: 1. Extending the timeframe for third-phase borrowers who do not comply with contractual requirements such as having outstanding debts exceeding 180 days, replacing the previous 90-day limit according to International Financial Reporting Standards (IFRS) 9. 2. Promoting third-phase borrowers to the second phase if they fulfill all the relevant and qualitative conditions of the second phase while settling overdue or troubled payments within 90 days, in accordance with current payment arrangements.

On June 14, 2023, the head of the Central Bank of Egypt stated that small and medium-sized companies would still be subject to temporary loan adjustments with instructions to apply International Accounting Standards (IAS) No. 9 until the end of June 2024. The Central Bank's board meeting on May 13 decided to continue implementing the following actions in compliance with IAS 9: - First, employees will be included in the third stage in case of non-compliance with loan conditions, such as existing debts exceeding 180 days (previously 90 days under IAS 9 guidelines). - Second, employees who have met all the quantitative and qualitative conditions required by the second stage and settled overdue payments for a period of 90 days will be upgraded to the second stage.

أصدر البنك المركزي المصري تعليمات محدثة لتنظيم شركات الصرافة، بما في ذلك قواعد الترخيص والرقابة والإشراف وتطوير أدائها. وافق مجلس إدارة البنك المركزي على هذه التعليمات في جلسته المنعقدة بتاريخ 10 مايو 2023، والتي تضمنت إصدار تعليمات خاصة بقواعد ترخيص شركات الصرافة والرقابة والإشراف عليها، ومنح مهلة لمدة عام لشركات الصرافة لتوفيق أوضاعها. كما تضمنت التعليمات قواعد وإجراءات الترشح لأعضاء مجلس إدارة شركات الصرافة، وضوابط اختيار مراقب الحسابات، وضوابط الرقابة والإشراف على شركات الصرافة.

أصدر البنك المركزي المصري تعليمات جديدة لتنظيم عمل شركات الصرافة، بما في ذلك قواعد الترخيص والرقابة والإشراف عليها. وتشمل التعليمات الجديدة متطلبات رأس المال، وإجراءات الترخيص والتسجيل، والضوابط الفنية والأمنية، وقواعد الحوكمة، ومتطلبات الرقابة الداخلية، وإجراءات اختيار أعضاء مجلس الإدارة، والجزاءات في حالة المخالفات. ويهدف البنك المركزي من خلال هذه التعليمات إلى تعزيز كفاءة إدارة شركات الصرافة وتحسين أدائها.

In a letter dated April 5, 2023, the Cairo administration decided to exempt certain gold export transactions from the standard 7-day period for monitoring the receipt of export proceeds. These exemptions include gold exports for foreign manufacturing and subsequent re-importation, as well as local manufacturing of imported gold, with a 30-day period for monitoring the receipt of proceeds/entitlements. The letter requests adherence to these directives.

In Cairo, on April 5, 2023: The Governor of the Central Bank of Egypt announced that certain exceptions will be applied regarding gold imports. These include: 1. Gold exports for the purpose of manufacturing abroad and then re-importing them to continue processing work. 2. The importation of gold for domestic production of obligations. Gold importers are requested to comply with these measures, and are highly appreciated.

The document outlines several measures taken by the Central Bank of Egypt to promote digital payments, improve financial services for citizens, and protect their rights. It also highlights the bank's efforts to include youth in the banking sector and address challenges faced by citizens, especially minors, in financial transactions related to guardianship over funds. The bank has issued guidelines to streamline procedures for financial transactions, such as receiving certificate benefits or pensions, opening accounts for minors, and accessing funds without a court order. Additionally, the bank emphasizes the legality of mothers opening accounts or linking savings schemes for their minor children without restrictions.

In a letter dated March 19, 2023, addressed to the Chairman of the Board of a bank in Cairo, the writer, Hassan Abdallah, highlights an issue regarding challenges faced by women during banking transactions. The letter emphasizes that mothers are allowed to open accounts or deposit savings on behalf of their minor children, as long as the funds are donated by the mother, in accordance with Article 3 of the Law of Guardianship over Money issued by Decree-Law No. 119 of 1952. The writer requests that the bank's management be informed of the importance of adhering to these regulations.

In Cairo on March 20, 2023, the Central Bank received numerous complaints about women facing issues during banking transactions. The most significant of these issues were refusals by some banks to open accounts under the woman's maiden name or to link beneficial ownership indicators with their names or family homes. To clarify, accounts can be opened using a woman's maiden name or linked with beneficial ownership indicators when the funds in them originate from donations as per Article 3 of the Money Laundering Act No. 119 issued by Decree Law 1952. The Central Bank kindly requests compliance with these requirements.

On March 13, 2023, the Central Bank of Egypt extended the period for banks to exempt rice, beans, and lentils from the 100% cash margin requirement on import transactions for trade purposes by one year, until March 15, 2024. This decision aims to facilitate import procedures and meet the needs of the Egyptian market and its citizens. The extension applies to all import transactions of all companies, subject to the credit study conducted by each bank.

Cairo, March 13 **2023** Mr. Professor/ Chairman of the Board Following the instruction in Mr. Governor's Central Bank book dated December 21, 2015 regarding import operations rules and his subsequent two books on March 10, 2022, permitting banks to exclude wheat, pulses, and oilseeds from their foreign currency positions at a rate of 100% for trade-related imports, ending on March 15, 2023, and taking into account the market's needs and his commitment to facilitating import operations in response to domestic needs, he decided to extend this measure for another year until March 15, **2024**. This decision applies to all import transactions for all companies with due consideration to the risk assessment studies conducted by each bank. Please be advised to strictly follow this decision.

هذه القواعد تحدد إطار عمل البنوك وتطبيقات الهاتف المحمول لمقدمي الخدمات على شبكة المدفوعات اللحظية، مما يتيح للعملاء والبنوك إجراء التحويلات اللحظية من خلال أدوات الدفع الإلكترونية وتقديم الخدمات المصرفية المناسبة لجميع فئات المجتمع. وتنطبق هذه القواعد على جميع البنوك العاملة في مصر، وتعتبر الحد الأدنى المطلوب لتقديم الخدمات المختلفة من خلال شبكة المدفوعات اللحظية. وتتضمن هذه القواعد أيضًا ضوابط وأهدافًا رقابيةً عامةً يجب التوافق معها لتقديم خدمات شبكة المدفوعات اللحظية. وتسري هذه القواعد فيما يتعلق بتقديم خدمات شبكة المدفوعات اللحظية، دون الإخلال بالضوابط الرقابية للعمليات المصرفية الإلكترونية والتعليمات والقواعد الخاصة بتنفيذ العمليات المصرفية وضوابط مكافحة غسل الأموال وتمويل الإرهاب. وتناقش القواعد أيضًا إدارة مخاطر خدمات

The President of the Central Bank of Egypt, Tarek Amer, announced an increase in daily and monthly limits for transactions within the national instant payment network. This follows data analysis showing an increase in activities and transactions through the system, indicating a need to raise daily and monthly transaction limits on applications such as PayPal. The new higher caps apply from 15 March 2023, with approval required from relevant regulatory bodies.

The letter informs the recipient of the launch of the national instant payment system and the completion of the connection with all banks in the country to facilitate various financial transactions through instant payment network applications and the InstaPay application, available 24 hours a day. It notes the increasing volume and value of transactions through this system, indicating the need to raise the daily and monthly limits for transactions made through the instant payment network application. Finally, it requests the implementation of an increase in the maximum limits for transactions through authorized service providers, as outlined in the relevant regulations.

The Central Bank of Egypt is working towards digitizing all types of payments and promoting the use of local payment systems. To achieve this, the National Payments Council was established to support and encourage the use of electronic transactions and develop the digital payment infrastructure. The Central Bank has also set regulations for banks to ensure efficient and secure payment services for citizens, including reducing the time for local transfers and eliminating fees for recipients.

These rules aim to define the framework for banks and all parties involved in the infrastructure for providing tokenization services for electronic payment cards to allow maximum flexibility and security and provide appropriate banking services to all segments of society, with the aim of promoting the use of electronic payment methods and achieving financial inclusion. The rules include the general definitions, scope of application, risk management, and the responsibilities and obligations of the board of directors and senior management. They also cover anti-money laundering and counter-terrorism financing, as well as the general rules for banks to provide tokenization services on electronic devices. The document also outlines the technical requirements, security measures, and the necessary licenses.

تهدف هذه القواعد إلى تحديد إطار عمل البنوك ومقدمي خدمات ترميز بطاقات الدفع الإلكترونية في مصر، مما يتيح أقصى قدر من المرونة والأمان وتقديم الخدمات المصرفية المناسبة لجميع فئات المجتمع. وتغطي القواعد المسؤوليات والالتزامات المتعلقة بإدارة المخاطر، ومكافحة غسيل الأموال وتمويل الإرهاب، والضوابط الرقابية، وإجراءات الحصول على التراخيص. كما أنها توفر إرشادات حول سرية وسلامة المعلومات، والبنية التحتية، والمتابعة الأمنية، وتقييم النظام الأمني، ورصد الأنشطة غير العادية، وتوعية العملاء، وما إلى ذلك. ويجب على البنوك التي تقدم خدمات ترميز البطاقات على تطبيقات الأجهزة الإلكترونية الحصول على ترخيص من البنك المركزي المصري.

The letter, addressed to the Chairman of the Board, refers to a document from the Central Bank dated November 21, 2022, which includes a decision by the Prime Minister regarding the mechanism for working with existing initiatives, the applicable interest rate, and the mechanism and periodicity of compensation. It also mentions that the Ministry of Finance will manage and follow up on new and future initiatives or any modifications to existing ones, per the resolution's regulations and provisions. The letter then informs that the Cabinet has approved an initiative to finance private sector companies and establishments in industrial, agricultural, and renewable energy activities with a reduced interest rate of 11%. Finally, it requests that the necessary action be taken to implement this initiative.

The second chapter discusses a database for financial inclusion of natural persons. It mentions the importance of maintaining a database that includes information about individuals' financial activities and transactions. The chapter also highlights the role of technology in facilitating financial inclusion and the need for secure and efficient systems to protect individuals' financial data.

The chapter provides a list of periodic data templates that banks are required to submit, including financial statements, letters of guarantee, asset and liability analyses, income statements, and various loan, deposit, and investment breakdowns. It also mentions several directives from the Deputy Governor and the Supervision and Control Sector, emphasizing the continuous and close monitoring of banks starting from early February 2011.

The Central Bank of Egypt's credit registration system contains information on the financing and credit balances of banks, leasing and finance companies, and mortgage companies. The system also includes a negative list of customers who have defaulted on loans of EGP 30,000 or more. The system has been automated and integrated with the Central Bank's credit information and scoring system. The Central Bank has also established rules for banks, leasing and finance companies, and mortgage companies to submit customer information and declarations when applying for financing or credit facilities. These rules include the types of documents and declarations required, such as proof of identity and declarations of related parties. The Central Bank has also set out the procedures for banks to access customer data and the types of data that can be accessed.

The Central Bank of Egypt's Board of Directors decided to prohibit banks from owning more than 40% of the share capital of financial companies. Banks were given three years to comply with the decision. To avoid potential losses, banks were required to sell their excess shares, and any losses incurred were to be reflected in their income statements.

According to Article 117 of the Central Bank, Banking System and Currency Law No. 88 of 2003, banks, exchange companies, and entities licensed to deal in foreign currency must provide the Central Bank of Egypt with data on their foreign currency transactions, whether conducted on their own account or on behalf of others. The Central Bank determines the timing, content, and submission method and deadlines for this data. To improve the Central Bank's information systems and facilitate electronic data exchange with the banking sector, a program called the "Foreign Currency System" has been developed, allowing banks to electronically input and transmit foreign currency statistics (receipts and payments) through the Central Bank's information network. This document outlines the statistical regulations related to foreign transactions, including general rules and specific guidelines for reporting via the Central Bank's network.

The Governor of the Central Bank of Egypt, Dr. Hisham Ramez, has stated that from December 29th, 2022, all importers are allowed to accept college degree documents for import operations. This is following the decision to gradually eliminate the requirement since February 13th, 2022. The Central Bank aims to completely abolish the aforementioned directive by December and accepts university degrees for performing all import activities.

On December 29, 2022, a letter was addressed to the Chairman of the Board of Directors of a bank in Cairo, Egypt, informing him of the decision to rescind a previous circular issued on February 13, 2022, which had suspended the use of collection documents for executing import transactions and mandated the exclusive use of letters of credit for such operations. The letter also referenced a subsequent circular dated October 27, 2022, which increased the value of shipments exempted from the aforementioned decision from USD 5,000 to USD 500,000 or its equivalent in other currencies. In alignment with the Central Bank's announcement of a gradual phasing out of these instructions, the letter communicated the cancellation of the February 13, 2022, circular and the reinstatement of the acceptance of collection documents for executing all import transactions.

In Cairo, on December 29, 2022: The Central Bank of Egypt announced that it will gradually phase out the decision to accept only bond documents for import operations and exclusively rely on supporting documentation. This was initially announced in February 2022 with a plan to completely cancel it by December 2022. It has now been decided to resume accepting bond documents along with other supporting documents for import activities. The Central Bank of Egypt (CBE) had previously issued Circular No. 27 dated October 27, 2022, which increased the exemption limit for imports from $5 billion to $500 million or its equivalent in any other currency. CBE has now decided to gradually phase out this decision until it is completely cancelled by December 2022. Accordingly, effective from the date of this circular, importers will be allowed to submit bond documents alongside other supporting documents for import activities.

On December 20, 2022, the Central Bank of Egypt announced several decisions to promote the use of electronic payment methods and reduce cash reliance. These include waiving fees for personal online bank transfers in Egyptian pounds and eliminating charges for micro, small, and medium-sized enterprises (MSMEs) activating e-commerce services for the first time. Additionally, mobile wallet transfers up to EGP 2,000 per month will be free, with a maximum fee of EGP 1 for transfers within the same service provider and 5.5% of the transfer value (up to EGP 15) for transfers to other providers.

The Central Bank of Egypt's Board of Directors has decided that banks must send account statements to customers every three months, either through registered mail or electronically. This decision aims to protect customer data and maintain its confidentiality while promoting sustainability by reducing the environmental impact of the bank's internal activities. The bank must obtain the customer's consent to send electronic statements and ensure data security, integrity, and encryption.

In Cairo on December 22nd, the Central Bank chairman pointed out that some credit and debit cards are being used in transactions outside Egypt despite the owners of these cards being within the country. Moreover, he highlighted that some individuals use foreign currency for travel outside Egypt without leaving the country. The chairman warned Egyptian banks to inform their clients about the ban on using credit and debit cards for those not leaving Egypt. This includes banning requests for foreign exchange transactions for traveling abroad without departing Egypt. Furthermore, Egyptian banks must review a sample of these card usage cases occurring outside Egypt as well as any suspicious circumstances involving currency exchange, which may indicate fraudulent activity. The Central Bank has requested Egyptian banks to stop dealing with the Score-I credit facility and take all necessary measures in this regard.

In a letter dated December 22, 2022, the Central Bank of Egypt alerts a bank's chairman to the misuse of credit and debit cards by clients who have not left the country. The bank is instructed to notify clients that using cards and obtaining currency for travel purposes without actually leaving Egypt is prohibited. The bank must also review a sample of card transactions made outside the country and currency requests for travel since December 1, 2022, and report any suspicious activity to the Central Bank.

In December 2022, the head of Banking Regulation alerted that some credit and debit cards were being used outside Egypt by customers holding those cards inside Egypt. The central bank also mentioned that some people are using these cards without leaving the country, and there is a need to report these occurrences to banks. Starting from December 2022, it is mandatory for banks to inform clients of the prohibition of repeated or suspicious card use outside Egypt and those who travel outside the country with their cards. The central bank also requires banks to report any such incidents continuously, including any other similar cases. They will take legal action against anyone found using a credit or debit card without traveling outside the country or misusing it, and the Egyptian Credit Bureau (Score-I) must implement all necessary measures in this regard.

The Central Bank of Egypt launched an initiative to stimulate the real estate sector for limited and moderate-income individuals. The initiative offers a 20% down payment and a maximum loan term of 20 years. The Central Bank of Egypt also issued unified conditions for banks to follow when providing mortgage financing to limited-income individuals.

The Central Bank of Egypt has launched an initiative to encourage individuals to replace their fuel-powered vehicles with dual-fuel ones by offering low-interest loans of up to 15 billion Egyptian pounds. The loan period ranges from 7 to 10 years with equal monthly installments. The Egyptian government will compensate banks for the difference in interest rates.

The Central Bank's Board of Directors, in its session held on October 26, 2022, decided that all banks operating in the Arab Republic of Egypt must integrate sustainable financing policies into their credit and investment policies and develop implementation procedures, aligning with the guiding principles of sustainable financing issued in July 2021. Banks are required to submit these policies and procedures to the Central Bank by October 1, 2023. The decision also mandates the establishment of a dedicated department for sustainability and sustainable financing, reporting to the CEO or their deputy, by April 1, 2023.

Banks in Egypt are required to maintain a reserve ratio of at least 18% of their Egyptian pound deposit balances with the Central Bank of Egypt, effective from October 4 to October 17, 2022. The calculation of this ratio is based on specific rules and regulations outlined in the document. Banks must also adhere to guidelines regarding the calculation period, which is based on the average daily balance over a two-week period, excluding weekends and official holidays.

In a letter dated December 18, 2022, the Central Bank of Egypt instructs banks to closely monitor gold export proceeds and take swift action if funds are not received within 7 working days from the date of shipment. If the bank's follow-up with the client for 3 days proves futile, the bank must notify the Central Bank, which will then instruct other banks to include the client on the defaulters list. The letter also emphasizes the importance of adhering to previous instructions regarding export proceeds for specific products, as per the directives of the Minister of Trade and Industry.

The Central Bank of Egypt (CBE) has issued a circular to banks on December 18, 2022, addressing the regulation of importing gold. In case no shipment of personal or affiliated gold imports enters within a period not exceeding seven working days from the shipping date - with the CBE following up on this matter without delay for a maximum of three subsequent working days - banks are required to inform the Central Bank and its branches about the customer and related parties, allowing the CBE to take control over banks' transactions. Additionally, the banks must also notify the Ministry of Trade and Industry (Foreign Trade Sector), the Customs Authority, and the Financial Regulatory Authority regarding any mandatory actions they may need to undertake. This comes in line with continuing the instructions released on April 28, 2013, and its subsequent amendments, emphasizing adhering to these guidelines. The circular encourages all banks to comply with the mentioned regulation.

The chapter discusses the prohibition of speculation in precious metals and foreign currency transactions, as well as the use of financial derivatives and the opening of Egyptian pound accounts for banks operating abroad. It outlines restrictions on banks' activities, including a ban on dealing or speculating in precious metals and strict regulations on foreign currency transactions. Banks are prohibited from engaging in margin trading on various assets and precious metals for client accounts. The chapter also outlines decisions by the Egyptian Central Bank regarding foreign exchange rate operations, forward contracts, and swap transactions, emphasizing the purpose of covering clients' commercial transactions and prohibiting speculation.

The Central Bank of Egypt's Board of Directors on December 15, 2022 approved the extension of the deadline for implementing instructions related to the Reserve Bank Credit Guarantee Scheme for Small and Micro Enterprises (SMEs) by one year until December 31, 2023. This decision is in line with maintaining the commitment of the Central Bank to support SMEs and encourage banks to continue financing them due to their importance in boosting economic growth. The Board also approved extending the deadline for implementing guidelines related to directing a 25% portion of the Reserve Bank Credit Guarantee Scheme for SMEs, with a 10% allocation for financing SMEs, until December 31, 2023 instead of December 31, 2022. The Central Bank of Egypt's Board of Directors has emphasized the importance of maintaining commitment to implementing these guidelines and reiterated that other instructions in this regard will remain unchanged as specified.

In a letter dated December 15, 2022, the Central Bank of Egypt's Board of Directors decided to extend the requirement for banks to maintain a 25% quota of their credit facilities for micro, small, and medium-sized enterprises for an additional year, until December 31, 2023. This decision aims to provide further support and incentives for banks to continue financing these businesses, recognizing their importance in boosting economic growth. The letter emphasizes the need for banks to comply with this directive.

Cairo, December 15, 2022 - The Board of Directors of the Central Bank of Egypt has decided to extend the deadline for implementing some instructions issued in February 2021 concerning **obliging** banks to allocate a certain percentage of their guarantees facilities to small and medium-sized enterprises (SMEs) until December 31, 2023. This will also include directing 10% of these funds towards financing SMEs during this additional year. The Central Bank of Egypt's Board of Directors agreed on the following: - Extending the deadline for implementing the February 2021 instructions regarding **obliging** banks to allocate 25% of their guarantee facilities to SMEs, as well as directing 10% of these funds towards financing small businesses. The new deadline is now December 31, 2023, replacing the previous deadline of December 31, 2022. The Central Bank appreciates your cooperation in implementing these important instructions and looks forward to your ongoing support during this transition period.

إنه مثل عبارة موجزة تحتوي على أساس وفري في ترجمة الإقليمية "Sudan" إلى غاية إنشاء مفهوم باقي. أصبح بعض المستخدمين يكثرون تستجيب إلى الإطار الموجز الذي تم تقديمه من قبلي. المفهوم الأصلي لـ "Sudan" يعني "البحر الأحمر". كان بدء القرن التاسع عشر ، وحتى خطور اختلاف جغرافية ، هذه الاسم "البحر الأحمر" كان مشير إلى الجزء الشمالي والبحر الآخر. عند نظر إلى الترجمة المفهومية "Sudan" كانت بسبب أن الجزء الذي تم طبقة القضية عليه ، وكان مشير إلى الجزء الجنوبي والبحر الأحمر. بدء عام 1898-1899 ، في سلسلة الخطوات التي تم تصنيف "البحر الأحمر" كجزء متحكم من العالم الإقليمي. الآن ، ستتتتد هذه الجغرافية وسط مجتمع مختلف يتبع شكل أرض وجغرافية تختلف. وبالإجابة على المسأله ، قد تصف لديك مثل هذا: "هل يمكنني أن أقول إن أشعر أنني في جزء مختلف من العالم الإقليمي ؟" عندما أكتب "غالبًا لا", هذا مثل موضوع طبيعي ، بسبب أن الجزء الشمالي والجنوبي يختلفان مقارنةً بينهما. على الرغم من ذلك، إذا كنت تطالب بترجمة "سودان" أو تسأل عن شكل أرض خاص بها في العالم الإقليمي، فإننه سيكون على جانبي أن تكتب "البحر الأحمر". أد شئ أخب بالتكل عنها على الأقل. إذا كنت مشك ، سيكون على جانبي أنني سمي "Sudan". في حالة اختلاف شكل الأرض الإقليمية ، سيكون على جانبي أنني "البحر الأحمر". على حد سيكون على جانبي أن تقص بأ شكل أرض مختلفة بالتكل عنها. هذا طبيع ، إذا كنت تطالب بترجمة "سودان" أو تسأل عن شكل أرض خاص بها في العالم الإقليمي، فإننه سيكون على جانبي أن تكتب "البحر الأحمر".

إذا كنت ترغب في استعمال مزيج من لغة إنجليزية وأربية، يُساد القيام بهذا بتعليم العلمة بأساس خبرتك. يتم تركيب معظم الجمل والفرص اللغوية في الإنجليزية ، ثم تمييزها أو تركيبها مع جمل اللغة الأربية. هذا هو شكل طبيعي لإستخدام مزيج من لغتي الإنجليزية والأربية في الإيقاع. يؤكد أنه لا يحدث شيء مثل ذلك ، وكان تم عرض تمام الجمل والجواب في الإنجليزية. وهكذا: - قد تتصرف بشكل مثال على هذا: أرسلت سخصًا على "على الأمان" و "تفتيط إنتاج الدقة". - أو تكون مثال: أرسلت بسخص على "التحقق من الأمان و تحسين الإنتاج الذي يلي ذلك". - أو بشكل أخر: أرسلت بسخص على "تفتيط إنتاج الدقة و مزيد من الأمان". يُساعد مثالًا هذا في عرض كيف يمكننا استخدام اللغة الإنجليزية والأربية في قيام هذه الأعمال. تأكد من أنك ستتحق طبعًا عن خبرتك وكيف يمكننا إستخدام اللغة الإنجليزية والأربية معًا.

The document outlines the suspension of the Industrial and Agricultural Private Sector Initiative, which offered loans at a decreasing rate of 8% to support these sectors. It emphasizes that the suspension does not affect existing loans, which will continue to be repaid at the agreed-upon rate until fully paid off. The document also provides instructions for banks to manage this transition effectively.

The letter, dated November 21, 2022, addresses the initiatives of the Egyptian Central Bank to compensate banks for the difference in interest rates on existing initiatives, as per the attached decision. It instructs adherence to the decision from its effective date and highlights the applicable interest rates and compensation mechanism. The letter also emphasizes the need for the concerned ministries and entities to ensure sufficient funds in their accounts with the Central Bank to cover the cost of the initiatives.

The letter outlines the Central Bank of Egypt's decision to mandate all banks operating in the country to adopt sustainable financing policies and procedures, aligning with the bank's sustainable development goals and Egypt's 2030 vision. The decision includes forming a dedicated sustainability and sustainable financing department, reporting requirements, and the use of environmental consultants for large projects.

In response to the recent market volatility, the Central Bank of Egypt has announced several measures intended to stabilize foreign exchange markets and support Egyptian businesses. These include: Firstly, allowing local banks and financial institutions to engage in foreign exchange swap operations for corporations, provided that: - The objective is to cover the corporate locations resulting from previous trading activities and that this can be done exclusively through the Bank. - The Central Bank ensures that local banks can carry out these transactions only with domestic banks and that no restrictions are placed on conducting such operations in the future. - Forward non-deliverable forwards (NDFs) for corporations, individuals, or entities will also be permitted under certain conditions, namely: - That the goal of these operations is to cover corporate locations resulting from previous trading activities and that this can be done exclusively through the Bank with a commitment that no restrictions will be placed on such operations in the future. - These operations will only be conducted with domestic banks. - The transactions are settled solely in the local currency. These measures, **with the understanding that any guarantees given to corporations regarding the non-withdrawal of funds in foreign currencies shall not constitute a liability for the Central Bank and that no financing is provided to support foreign exchange operations not for legitimate purposes**, should be taken into consideration. Please accept our thanks for your prompt attention. Sincerely, Central Bank of Egypt

On October 27, 2022, the Central Bank of Egypt issued a letter to the Chairman of the Board of Directors of a bank, informing him of an increase in the value of shipments exempt from the requirement to use documentary credits for import transactions. The exemption limit has been raised from $5,000 to $500,000 or its equivalent in other currencies, effective immediately. The letter expresses the highest regards.

In light of the current economic developments and the Central Bank's continuous monitoring of banks' activities, the Central Bank has decided to update the regulations regarding forward foreign exchange operations linked to the Egyptian pound and the interbank foreign exchange market. The changes include allowing banks to conduct forward FX operations with local banks for non-speculative purposes and permitting swap operations for corporate clients to cover their positions arising from specific commercial transactions. The Central Bank has also lifted the ban on non-deliverable forward FX operations for bank clients, allowing banks to conduct such operations with corporate clients only for specific purposes and with local banks for non-speculative purposes.

The Governor of the Bank of Egypt, on October 27th, 2022, pointed to the Central Bank's instructions issued on February 13th, 2022, which halted handling documents related to tuition fees for all import transactions and only processed them based on these documents. The Governor also mentioned that the correct interpretation of these instructions excluded shipments worth up to $5 million or equivalent work from these instructions. However, the value of exempted shipments according to this decision has been raised to 500,000 dollars or its equivalent work. In addition, they agreed to accept a high level of regard.

Cairo, October 27, 2022: The Governor of the Central Bank of Egypt referenced guidelines issued on February 13, 2022, which ceased all transactions involving educational documents and only allowed exceptions for shipments up to $5 million (USD) or equivalent. These limits have now been raised to $500 million (USD), or an equivalent amount of work. This comes as the US government granted Egypt a waiver in high regard.

The document contains a table with questions and answers regarding banking regulations in Egypt. The questions cover a range of topics, including the treatment of foreign companies, ownership structures, import procedures, and banking fees. The answers provide clarifications and guidance on how to comply with the regulations.

Cairo, September 22: The Governor of the Central Bank of Egypt stated that the Board of Directors decided on several issues including: 1. Increasing the reserve cash ratio from 14% to 18%. 2. This decision is applicable from October 4 to October 17, based on the average percentage, which ranges between 6-19 September. 3. Continuing the decisions of the Central Bank's Board of Directors regarding the reserve cash ratio.

On September 22, 2022, the Central Bank of Egypt's board of directors decided to increase the cash reserve ratio that banks must maintain with the central bank from 14% to 18%. This decision is effective from the reserve period starting October 4 to October 17, 2022, calculated on average balances from September 6 to September 19, 2022. The bank requests that the chairman take note and ensure the necessary actions are taken to implement this decision.

Hello, In compliance with the guidelines issued by central bank authorities on August 23rd, 2011 and in accordance with relevant provisions regarding those matters during multiple board meetings throughout the year, it is possible for board members to participate in board meetings remotely either through phone calls or video conferencing. Efforts are being made to streamline the procedures of holding these board meetings, especially if there's a need to convene more than six times a year. In light of this, it was decided during the Extraordinary General Assembly held on August 30th, 2022 that: - The attendance for board members will be physical unless otherwise stated. In case a member is unable to attend physically, they may participate remotely, either through phone calls or video conferencing, up to twice a year, subject to the approval of the chairman and secretary of the board. A minimum of half of the board members should be present in person at each meeting. - The existing procedures will continue as per the guidelines set out in the minutes of September 20th, 2018, unless otherwise stated in the resolution. Secondly, the existing guidelines issued on March 17th, 2020, and any provisions relevant to these matters during multiple board meetings throughout the year shall be followed with high regard, starting from the day of their issuance. Thank you for your cooperation and kind consideration. Respectfully, [Chairman's Name]

The letter refers to the Central Bank's Board of Directors' meeting held on August 30, 2022, and the subsequent decision to amend the previous resolution regarding the minimum number of board meetings per year and the conditions for members' participation through telephonic or video communication. The new resolution stipulates that the board should meet at least six times a year, with the original intention being physical attendance, but allowing for up to two remote participations per member per year if approved by the board's Chairman and Secretary.

Cairo, August 25, 2022: Dear all, I would like to inform you about the following amendments: - The maximum daily withdrawal limit for individuals and companies from bank branches and ATMs has been abolished. - The maximum daily cash withdrawal limit for individuals and companies from banks has been increased from EGP 50,000 to EGP 150,000 while the limit on ATMs remains at EGP 20,000. Please note that these changes will be effective as of August 25, 2022 and thank you for your cooperation. Sincerely, Hassan Abd El Hakim

Cairo, August 25, 2022 - Dear all, Below is a link to the circular issued on April 22, 2020 regarding the maximum limits for withdrawal and deposit of cash by individuals and companies either through bank branches or ATMs temporarily during the emergency measures taken to counter COVID-19 pandemic. Due to the continuing economic situation and efforts being made to ease it, the following has been decided: - Eliminating the upper limit on deposit transactions by individuals and companies at banks and ATMs. - Increasing the daily cash withdrawal limit for individuals and companies through bank branches from EGP 50,000 to EGP 150,000, with the daily limit for ATMs remaining at EGP 20,000. Please adhere to these arrangements starting from the date of issue. I appreciate your cooperation, and please accept my high esteem. Sincerely, Hassan Abd El Hakim

On August 25, 2022, the Central Bank of Egypt issued a decree removing deposit limits for individuals and businesses at bank branches and ATMs. The daily cash withdrawal limit for individuals and businesses at bank branches was also increased from 50,000 to 150,000 Egyptian pounds, while the ATM withdrawal limit remained at 20,000 Egyptian pounds. These changes aimed to ease restrictions on citizens and businesses in the aftermath of the COVID-19 crisis.

The Central Bank of Egypt is committed to maintaining compliance with international best practices in the Egyptian banking sector, including the application of IFRS standards for financial reporting. To this end, the Board of Directors, in its meeting on January 17, 2018, decided that banks must apply IFRS 9 standards starting from 2019. Banks are required to submit quarterly reports to the Central Bank of Egypt detailing their progress in implementing IFRS 9, including a quantitative impact study (QIS) to assess the expected credit loss (ECL) resulting from the application of IFRS 9.

The fifth chapter discusses the models for interest rates on loans, facilities, and discounted commercial papers, as well as deposit interest rates, savings systems, and savings accounts. It mentions the Central Bank of Egypt's decision to liberalize interest rates on loans and facilities and the discounted value of commercial papers. The chapter also includes the Deputy Governor's letter, which outlines the interest rate models and their application based on the contract's terms and conditions.

The document outlines the regulations set by the Central Bank of Egypt to maintain balance in currency positions for banks operating in Egypt, including foreign bank branches. These regulations aim to mitigate risks associated with currency fluctuations and ensure the safety of banks' financial positions. The maximum surplus or deficit in any single currency position is limited to 10% of the bank's capital base, while the total surplus or deficit across all currency positions (foreign or local) should not exceed 20%. Banks are required to adhere to these limits at the end of each business day.

Sure, here's a conversion of the table you provided to English: | | Week 1 | Week 2 | Week 3 | | |------|------------|----------|----------|-----| | M£¥ | KDAE8!í´j@7 | ºj&א·¹£ | | | | ¼אYD Y7 KCא | YD — M< | YD — M | − £אWאkYGאW א&8[ | | | | | | | | | ٪٣ | | | | | | | | | | | | ٪٢٠ | | | | | | | | | | | | ٪٥٠ | | | | | | | | | | | ٪١٠٠ | | | | | Weekly data: - M£¥: KDAE8!í´j@7 (in Hebrew, it might be a typo or an incorrect format) -> ºj&א·¹£ (in Hebrew, meaning "10th percentile"). - ¼אYD Y7 KCא is missing in English translation. It might not have been correctly converted. Based on the rest of the data: - The first three columns represent Weeks 1, 2 and 3 respectively. - The remaining rows (٪٣, ٪٢٠, ٪٥٠, ٪١٠٠) appear to be ages in years, possibly related to the subjects of this data set. It's hard to tell without more context.

The Central Bank of Egypt approved the attached rules regarding the assessment of creditworthiness of clients and the formation of provisions, which replace the rules for the classification of assets and the formation of provisions issued by the Central Bank of Egypt in 1991. The Board of Directors of the Central Bank of Egypt directed banks to review their internal policies for assessing the creditworthiness of clients when granting, increasing or renewing credit, as well as when forming provisions in accordance with these rules, which cover credit risk management and creditworthiness assessment and the formation of provisions for each of the following: commercial, industrial, real estate and personal housing loans, in addition to small loans for economic activities. The rules for the formation of provisions will be applied to the banks' financial statements for the quarter ending December 2005 or the year ending December 2005, with each bank required to amend its internal policies to comply with the requirements of these rules and to submit a copy of the amended policies to the Central Bank of Egypt within three months of the date of this circular. The Board of Directors also directed the following: 1. The importance of training bank employees on the application of these rules through the Banking Institute. 2. The importance

In a letter dated June 29, 2022, the Governor of the Central Bank of Egypt, Tarek Amer, announces several measures to promote the use of electronic payment methods and reduce cash reliance. These include waiving fees for certain online banking transactions and mobile wallet transfers, capping fees for others, and exempting citizens from fees for issuing prepaid cards and using contactless payment tools. Banks are also encouraged to waive fees for small and medium-sized enterprises (SMEs) activating e-commerce services for the first time.

The Central Bank held a meeting on May 5, 2022, to discuss housing loan programs. The current housing loan program with an 8% annual interest rate for the middle-income group will be expanded, and the maximum home unit price allowed within this program, which currently includes maintenance fees up to 10%, will remain unchanged. This expansion is expected to enhance access to these loans by the target demographic.

قرر مجلس إدارة البنك المركزي المصري في جلسته المنعقدة في 31 مايو 2022 إدراج أعمال رفع كفاءة خدمات االتصاالت وسرعة االنترنت ضمن أغراض مبادرة تمويل عمليات اإلحالل والتجديد الالزمة لفنادق اإلقامة والفنادق العائمة وأساطيل النقل السياحي، وذلك بأسعار فائدة مخفضة تبلغ 8%. ويأتي هذا القرار في إطار دور البنك المركزي في دعم قطاع السياحة وتلبية احتياجاته، خاصة مع استضافة مصر لعدد من الفعاليات السياحية الهامة هذا العام، بما في ذلك مؤتمر الرابطة الدولية لسياحة الملتقيات واإلجتماعات ومؤتمر األطراف السابع والعشرين الامم المتحدة لتغير المناخ.

On June 5th, 2022, during a session in Cairo, the CEO/Chairman of the World Tourism Organization (UNWTO) mentioned that according to the UNWTO's recorded data as of January 8th, 2020, the Bank's strategy for funding climate action and promoting sustainable tourism has been significantly expanded. They have organized various activities in the current year, with the aim to enhance the bank's role in providing funds and meeting the demands. The Board of Directors decided in November last year, and at its recent meeting on May 31st, to include measures to improve the efficiency of financial services and strengthen the internet-based component of the UNWTO's funding programs for climate action, as well as sustainable tourism infrastructure, with a return rate of 8%. I kindly ask you to adhere to these guidelines and appreciate your cooperation.

The Central Bank Board convened on May 5, 2022 and decided to add a new component to the Middle-Income Mortgage Refinancing Initiative, which was launched in December 2019. This includes mortgage refinancing within the framework of this initiative, up to 10% of the unit price, **plus interest**. The remaining conditions of the initiative remain unchanged. The new component will also include home maintenance fees and a maximum of 10% of the unit price, including interest. All other terms and conditions of the initiative remain the same.

In a letter dated June 5, 2022, the Central Bank of Egypt's Board of Directors announces a decision to include the financing of a maintenance deposit, up to a maximum of 10% of the unit price, as part of the 8% decreasing return financing initiative for middle-income housing loans. This decision aims to facilitate clients' access to financing and overcome obstacles within the housing loan initiatives, mirroring the conditions applied in the limited and middle-income housing loan initiative with a 3% decreasing return.

The Central Bank of Egypt has been actively promoting financial inclusion, establishing a dedicated central department and engaging all Egyptian banks in data collection efforts. The bank proposed a two-week celebration of the "Arab Financial Inclusion Day" on April 27th, as designated by the Council of Arab Central Banks and Monetary Authorities. To further emphasize financial inclusion, the Central Bank of Egypt suggested four events in 2019, coinciding with global occasions, to target a broader audience and include all societal segments in the formal financial system.

The Central Bank of Egypt (CBE) is considering plans to provide up to EGP50 billion ($3.24 billion) in soft loans for local tourism companies and to refinance existing debts, according to a report by Al-Borsa News. The proposed plan would involve the following measures: 1. Extending a guarantee of EGP3 trillion ($192.85 billion) to finance local banks that issue loans to tourism companies. This is subject to the conditions set forth in the following points. 2. A private company, Egyptian Credit Guarantee Company (ECGC), will be hired to provide a guarantee of up to 100% of the total debt owed by tourism companies from local banks. The Central Bank of Egypt will have a say over the terms and conditions of this arrangement. 3. A private company, Egyptian Credit Guarantee Company (ECGC), must provide monthly detailed reports that include the names of borrowers and amounts loaned, as well as the payment dates and names of debtors along with their overdue payments. 4. The Central Bank of Egypt is considering launching a plan to refinance transportation companies. This plan would involve replacing old vehicles powered by diesel with new ones that use dual-fuel (diesel and natural gas). This move is being encouraged due to the efforts made by the government to reduce emissions, and it is expected to contribute to lowering fuel prices. The Central Bank of Egypt has decided on a plan to provide EGP150 billion ($9.67 billion) in loans for Egyptian Credit Guarantee Company (ECGC), an entity that will guarantee the debt of transportation companies. The banks will take over 80% of this loan, with the remaining 20% being covered by the banks themselves. This initiative is expected to help transport companies who are currently suffering from the effects of the COVID-19 pandemic.

The Central Bank of Egypt has issued directives to banks regarding consumer loans and financing for installment sales companies. The directives include a cap on the ratio of monthly loan installments to a borrower's monthly income at 50%, including mortgage loans. Banks are also required to match the maturities of their assets and liabilities when granting consumer loans. Additionally, the Central Bank has set guidelines for financing installment sales companies, including limiting funding to domestic operations and requiring audited reports from these companies on their policies for monitoring loan installments relative to borrowers' monthly income.

The document outlines regulations for bank-provided financing for acquisitions of companies and the assessment of goodwill. It defines the circumstances under which the value of internally generated goodwill is recognized and how it is evaluated when resulting from an acquisition between unrelated companies. The document also sets out requirements for banks to follow when providing financing for acquisitions, including having an approved policy in place, assessing cash flow sufficiency, conducting comprehensive financial and legal due diligence, and performing financial analysis. There are also provisions for increasing risk-weighted capital requirements and limits on the total financing provided by banks for acquisition purposes.

The text outlines regulations for microfinance in Egypt, including guidelines for banks when providing microfinance to individuals, companies, and institutions. It emphasizes the need for internal policies, reporting requirements, and credit scoring systems. The Central Bank of Egypt's decisions from February 2017 and October 2019 are referenced, detailing obligations for banks and microfinance institutions. The text also includes credit criteria for assessing microfinance companies and a table of financial indicators for evaluating their performance.

يحدد القرار ضوابط تمويل البنوك لشركات التنمية العقارية العاملة في مجال إنشاء الوحدات السكنية بغرض بيعها، والتي تشمل امتلاك الأرض المقام عليها الوحدات أو وجود عقد تخصيص لها، والفصل بين تمويل الشركة وتمويل الراغبين في شراء الوحدات السكنية. كما يحدر القرار شروطاً معينة على البنوك اتباعها عند اتخاذ قرار التمويل، مثل إجراء الدراسات الفنية اللازمة والتأكد من جدوى المشروع، ومتابعة تنفيذه من قبل استشاريين مستقلين. بالإضافة إلى ذلك، يجب على البنك التأكد من استخدام التمويل في الغرض المخصص له وعدم استخدامه في المضاربة العقارية. ويشترط القرار أيضًا أن يكون التمويل الممنوح للشركة وفقًا لالتزامات المشروع وأموال الشركة الذاتية المخصصة له، مع مراعاة سداد العميل لنسبة معينة من قيمة الوحدة السكنية. كما يحدد القرار شروطًا معينة لخصم الأوراق التجارية المقدمة من شركات التنمية العقارية، مثل ضرورة استيفاء الشركة

The chapter outlines general guidelines for granting credit, including the risks associated with granting loans, such as the risk of default and the potential impact on the bank's reputation and customer deposits. It emphasizes the importance of adhering to established banking practices, regulations, and guidelines set by the Central Bank of Egypt. The chapter also highlights the need for banks to assess the purpose of loans, ensure compliance with agreed-upon terms, and maintain adequate provisions for potential loan losses. It further emphasizes the responsibility of banks to assess the financial standing of borrowers and the need to obtain adequate collateral or guarantees. The chapter provides detailed guidelines for various types of credit facilities, including loans secured by goods, commercial papers, and financial securities. It also addresses credit facilities for industrial, real estate, and hotel projects, as well as unsecured loans.

أصدر البنك المركزي المصري تعليمات لحماية حقوق العملاء لتعزيز ثقة المتعاملين في القطاع المصرفي. وتشمل التعليمات وجود إطار تنظيمي واضح يحدد العلاقة بين مقدمي الخدمات المصرفية والمستخدمين، وضمان العدالة والشفافية والحفاظ على سرية البيانات، وآلية واضحة للتعامل مع الشكاوى. كما تتناول التعليمات أهمية تقديم المنتجات والخدمات المناسبة للعملاء، وتوعيتهم بالخدمات المصرفية والمالية. وتسري هذه التعليمات على جميع الخدمات والمنتجات المصرفية التي تقدمها البنوك المسجلة لدى البنك المركزي المصري. وتتضمن التعليمات قواعد عامة لحماية حقوق العملاء، مثل التعامل بعدالة وإنصاف، وتقديم شروط وأحكام المنتجات والخدمات بشفافية، وقياس القدرة المالية للعميل. كما تتناول التعليمات آلية التعامل مع شكاوى العملاء، ونشر الثقافة والتوعية المصرفية، وحماية بيانات العملاء وسرية الحسابات.

The chapter introduces an initiative aimed at helping non-regular corporate clients with doubtful or bad debt (creditworthiness categories 9 and 10) and debts of less than EGP 10 million as of September 30, 2019, to resume payments and return to economic activity. The initiative offers incentives such as removal from credit registration blacklists, lifting of transaction bans, and dropping of legal cases upon agreement on repayment terms. Banks are instructed to inform eligible clients via registered letters and other means, ensuring reconciliation complies with the law.

تنظم هذه القواعد خدمات الإيداع والسحب النقدي من خلال مقدمي الخدمات في مصر، وتهدف إلى زيادة انتشار نقاط الإيداع والسحب النقدي، مع الحد من المخاطر المرتبطة بها. وتغطي القواعد التعريفات العامة، ونطاق القواعد، والقواعد العامة للبنوك فيما يتعلق باستخدام مقدمي الخدمات، وإجراءات الحصول على ترخيص لتقديم الخدمة، وسرية وسلامة المعلومات. يجب على البنوك التأكد من أن تبادل الملفات أو البيانات بين مقدمي الخدمات والبنوك يتم بشكل آمن، مع استخدام أساليب التشفير المناسبة. كما يجب على البنوك تنفيذ ضوابط إضافية للحفاظ على سرية وسلامة المعلومات التي يتم تداولها عبر نظم خدمات الإيداع والسحب النقدي. يجب على البنوك القابلة التي ترغب في تفعيل خدمة الإيداع/السحب النقدي من خلال مقدمي الخدمات أن تتقدم بطلب للحصول على موافقة البنك المركزي المصري، مع استيفاء مستندات محددة. يجب على البنو

يحدد الفصل السادس معايير إصدار وقبول المدفوعات الإلكترونية غير التلامسية، مع التركيز على ضمان أمن وسلامة المعاملات. ويحدد مسؤوليات والتزامات مجلس الإدارة والإدارة العليا في اعتماد استراتيجية العمل وإدارة المخاطر. كما يحدد قواعد مكافحة غسل الأموال وتمويل الإرهاب وأمن المعلومات، بما في ذلك الإبلاغ عن أي اختراقات للبيانات. ويحدد الفصل قواعد إصدار وسائل الدفع غير التلامسية، مثل وضع حد أقصى للمعاملات التي تتم بدون إدخال رقم سري، وضرورة تفعيل أدوات الدفع قبل تسليمها للعملاء، وتوفير التوعية اللازمة لهم. كما يحدد قواعد قبول المدفوعات غير التلامسية، مثل وضع حد أقصى للمعاملات، واتباع المعايير العالمية في وسائل التواصل الخاصة بالمعاملات، وضمان وضع ماكينات نقاط البيع الإلكترونية في أماكن آمنة. ويؤكد الفصل على أهمية توعية مستخدمي أدوات الدفع غير التلامسية بال

The chapter discusses a new initiative by the Central Bank of Egypt to assist individual customers who are irregular in their payments. The initiative aims to help these customers resume their dealings with the banking system, increase their purchasing power, and boost local demand. The initiative includes waiving legal cases, removing customers from credit bureau blacklists, and releasing non-cash guarantees and pledges.

The first chapter of the payment systems rules ## First: The list of the instant settlement system ## 1.1 **The list of the instant settlement of interbank payment orders** "RTGS" ## Introduction: (For the purpose of settling payment orders instantly, the Central Bank of Egypt provides the instant settlement system) RTGS (between banks) (subscribers) on their current accounts with the Central Bank and continuously during the working hours of the system. No settlement is made unless the subscriber has a sufficient balance in the system. This system allows for deduction from his account. This system aims to reduce credit risk as well as liquidity management risk for the participating banks) (subscribers) in the system. ## Article (1): Definitions | | تكو | | |----------|----------------|------| | | ن ل | | | | أللفا | | | | ظ والتعبي | | | | را | | | | ت التالية الوا | | | | ردة ف | | | | ي | | |

هذه القواعد هي الحد الأدنى المطلوب من البنوك للتعامل مع مقدمي الخدمات التكنولوجية للمدفوعات وميسري عمليات الدفع الإلكتروني. وتنظم هذه القواعد استخدام مقدمي الخدمات التكنولوجية للمدفوعات وميسري عمليات الدفع الإلكتروني فقط، دون الإخلال بالضوابط الرقابية للعمليات المصرفية الإلكترونية الصادرة عن البنك المركزي المصري. يجب على البنك إجراء الأبحاث اللازمة فيما يتعلق بالكفاءة والبنية التحتية والقدرة المالية لمقدمي الخدمات التكنولوجية للمدفوعات وميسري عمليات الدفع الإلكتروني قبل إبرام أي اتفاقيات معهم. يجب أن يغطي عقد البنك مع مقدمي الخدمات التكنولوجية للمدفوعات وميسري عمليات الدفع الإلكتروني المسؤوليات التعاقدية لجميع الأطراف، ويجب أن ينص على إمكانية إيقاف أو إلغاء أي من الشركات الفرعية. يجب أن تخضع جميع النظم والعمليات الخاصة بخدمات التحصيل من خلال مقدمي الخدمات التكنولوجية للمدفوعات وميسري عمليات الدفع الإلكتروني لنظام إدارة المخاطر وسي

The Central Bank of Egypt is committed to providing equal access to financial services for all citizens and increasing the use of these services in a secure, easy, and affordable manner. To achieve this, the bank is continuously supporting the payment systems infrastructure and providing various electronic means to banks to help them promote digital financial services and achieve higher levels of financial inclusion. In light of the challenges facing electronic acceptance in Egypt, the Central Bank of Egypt has launched an initiative to increase and activate electronic payment channels, including the deployment of 100,000 new electronic points of sale (POS) and the use of Quick Response (QR) codes for electronic acceptance.

In January 2020, the Central Bank of Egypt launched an initiative for irregular clients in the tourism sector with debts of 10 million Egyptian pounds or more. The initiative, which lasted until June 2021, offered debt relief and other benefits to eligible clients who made partial repayments. The initiative aimed to support the tourism industry, a critical sector for the Egyptian economy, by providing relief to struggling businesses and facilitating debt repayment.

The chapter outlines the criteria for approving the opening of new branches or agencies for registered banks and the use of mobile banking services. It details the requirements for banks to open new branches or agencies, including maintaining a minimum capital of EGP 20 million per branch and adhering to regulatory frameworks. Banks must submit requests for new branches in September, with the Central Bank of Egypt responding in December. The chapter also addresses the registration process for branches and agencies, the definition of a branch or agency, and the requirements for opening mini-branches or agencies. Additionally, it outlines the conditions for using mobile banking services, emphasizing security measures and the need for prior approval from the Central Bank of Egypt.

The chapter outlines the licensing and registration requirements for establishing a bank or a branch of a foreign bank in Egypt. Applicants must adopt specific legal forms, meet capital requirements, and demonstrate sound financial standing and integrity. The chapter details the necessary procedures, documents, and approvals for obtaining preliminary and final licenses, including conditions for foreign bank branches. It also covers registration processes, data to be recorded, and procedures for modifying registration details.

The chapter outlines the requirements and procedures for registering and licensing a representative office of a foreign bank in Egypt. Conditions include having no branches in Egypt, being subject to the corresponding regulatory authority in its home country, and limiting activities to market research and liaison. The required documents include the bank's name and address, approval from the Central Bank of Egypt, and evidence of regulatory compliance. The representative office must notify the Central Bank of any legal or administrative changes to the represented bank and provide annual reports.

According to Article 92 of the Banking Law, the Central Bank must be notified of any amendments to the bank's articles of association and management contracts before they are presented to the General Assembly. The notification must be made using a specific model, and any amendments to the bank's articles of association must be submitted at least 60 days in advance. This also applies to any proposed amendments to the bank's regulations and management contracts.

The chapter outlines the conditions under which a bank's license can be revoked and its operations suspended or terminated in Egypt. The Central Bank's approval is required for partial or total suspension of operations, and the bank must provide adequate guarantees or settle its obligations to depositors, creditors, and employees. The license can be revoked if the bank commits serious or repeated violations, endangers the economy or monetary policy, stops operating, or provides false information to obtain the license. The chapter also covers the procedures for partial and total suspension of operations and the consequences of the Central Bank's decision.

This chapter outlines the regulatory framework for providing banking services via the Internet. It covers the scope of the rules, the responsibilities and obligations of the board of directors and senior management, the security infrastructure, and the security controls for Internet banking services. It also includes the rules for combating money laundering and terrorist financing, as well as customer awareness and education.

يغطي هذا الفصل الضوابط التي تحكم العمليات المصرفية الإلكترونية وإصدار وسائل الدفع الإلكترونية. ويحدد الفصل تعريفات العمليات المصرفية الإلكترونية وأسباب حصول البنوك على ترخيص لتقديم هذه الخدمات والشروط اللازمة لذلك. كما يتناول الفصل تعريفات إصدار وسائل الدفع الإلكترونية وأسباب حصول البنوك على ترخيص لإصدارها والشروط اللازمة لذلك. ويحدد الفصل أيضًا المبادئ الاسترشادية لإدارة المخاطر المتعلقة بالعمليات المصرفية الإلكترونية وإصدار وسائل الدفع الإلكترونية. يحدد الفصل التالي المسؤوليات الاسترشادية للبنك والعملاء عند تقديم الخدمات وتلقيها عبر شبكات الاتصال الإلكترونية.

In an effort to measure financial inclusion in Egypt, the Central Bank of Egypt has decided to build a comprehensive database that includes information on micro, small, and medium-sized enterprises owned or managed by women. The definition of these enterprises is based on the criteria set by the Central Bank in March 2017. The Bank has also instructed banks to update their databases to reflect this definition for new accounts and gradually update existing accounts over a maximum of five years.

The Central Bank of Egypt's board of directors decided at its meeting on January 17, 2018 to require banks to prepare financial statements in accordance with IFRS 9 starting in 2019. This applies to banks that prepare annual financial statements at the end of December and to banks that prepare semi-annual financial statements at the end of June. The instructions for preparing financial statements in accordance with IFRS 9 are based on the experimental financial statements that banks prepared for 2018. The instructions apply to all banks and foreign bank branches operating in Egypt, including the Central Bank of Egypt and all of its branches. The instructions cover individual, consolidated, and combined financial statements.

The Central Bank of Egypt is committed to promoting sustainable finance, which aligns with its goals of supporting financial and banking stability and achieving sustainable development. The bank has launched several initiatives to promote sustainable development and green financing, including initiatives for small and medium-sized enterprises, the industrial, agricultural, and tourism sectors, real estate financing, and the conversion of vehicles to dual-fuel systems. The banking sector plays a crucial role in supporting economic development and sustainable development goals, including environmental and social challenges. The adoption of sustainable financing practices can positively impact companies' performance and reduce risks, attracting foreign investments. The Central Bank of Egypt has outlined the concept of sustainable financing and its importance at the national and banking sector levels.

The document outlines six guiding principles for sustainable financing, focusing on capacity building, integrating environmental and social elements into banking activities, managing climate change risks, engaging stakeholders, and applying sustainability principles to internal bank operations. It emphasizes training staff on sustainable finance concepts, modifying policies to include sustainability elements, and encouraging investment in sustainable projects. The principles also emphasize managing climate change risks, collaborating with government entities and experts, and reducing environmental impacts of bank operations through waste management, energy efficiency, and digital solutions.

The chapter outlines the regulations for issuing bank deposit certificates for company formation and those related to the bank's dealings with its clients. It highlights the role of the Capital Market Authority in regulating these processes and ensuring compliance with relevant laws and regulations. The chapter also emphasizes the importance of maintaining transparency and protecting the interests of all parties involved.

To increase transparency for bank customers, banks registered with the Central Bank of Egypt are required to fully disclose to customers, before contracting, the terms and conditions of the retail banking products offered, as well as the calculation basis for the cost or return of these products. This includes all means of communication with customers, such as brochures, websites, and customer service branches. The Central Bank of Egypt's Board of Directors is responsible for setting the rules for disclosure and the required statements, as well as the method of publication. Banks must disclose the effective annual interest rates for their financial products and services, either in the contract before signing, on their websites or customer service branches, or through other means of communication with customers.

The first chapter emphasizes the importance of financial inclusion in Egypt as a key driver of sustainable development and its relationship with financial stability and economic growth. To address the barriers that prevent access to banking services for all segments of society, especially the financially excluded, the Central Bank of Egypt directs all banks to establish a dedicated Financial Inclusion Department. This department will be responsible for coordinating internal bank efforts and liaising with the Central Bank on financial inclusion matters, including strategy formulation, geographic expansion, product development, digital service delivery, financial literacy, and support for entrepreneurs and innovative ventures.

The fifteenth chapter outlines the emergency liquidity instructions for banks in Egypt, as per the Central Bank and Banking System Law No. 194 of 2020. The Central Bank's Board of Directors approved the issuance of the general framework for emergency liquidity instructions to address potential crises and mitigate their impact. The instructions emphasize that emergency liquidity support is a last resort for banks facing short-term liquidity crises and is subject to strict eligibility criteria, including adequate collateral and higher-than-average interest rates. The Central Bank closely monitors recipient banks and may disclose emergency liquidity provisions to maintain financial stability and confidence in the banking sector.

في أغسطس 2021، أصدر البنك المركزي المصري تعليمات جديدة للبنوك العاملة في مصر بشأن خطط التعافي. تهدف هذه التعليمات إلى تعزيز إدارة الأزمات في القطاع المصرفي، وضمان استعداد البنوك لمواجهة الضغوط الاقتصادية والمالية المحتملة. يجب على البنوك إعداد خطط التعافي ومراجعة وتحديثها كل عامين، مع التركيز على نموذج الأعمال وحجم الأنشطة وهيكلها التنظيمي والمخاطر التي تواجهها. يجب أن تتضمن خطط التعافي مؤشرات كمية ونوعية، وخيارات التعافي، وسيناريوهات الضغوط، وإطارًا للحوكمة، وإجراءات محددة للإفصاح والتواصل. يجب أن تكون خيارات التعافي متنوعة وواقعية، مع إطار زمني واضح، ويجب أن تكون قابلة للتنفيذ من قبل البنك نفسه. يجب على البنوك أيضًا إجراء محاكاة لخطط التعافي لاختبار فعاليتها قبل تقديمها إلى البنك المركزي.

In a letter dated April 5, 2022, the Central Bank of Egypt decided to allow doctors of medicine, physical therapy, and dentistry to benefit from its January 2016 small business initiative at a decreasing interest rate of 5%. This decision was made to support the healthcare sector and create job opportunities for doctors, enabling them to open and equip private clinics. The bank also emphasized the importance of providing electronic payment methods to support digital transformation and financial inclusion for the funded doctors.

The Central Bank of Egypt has recently approved a plan to offer loans for medical professionals, such as physicians, dentists and nurses at an interest rate of 5%. This initiative stems from the importance of the healthcare sector in supporting the country's goals in Egypt, where job opportunities are limited. The approval includes permitting health practitioners to join labor unions with small or micro enterprises (SMEs) under a program by the Central Bank launched in January 2016 that charges a 5% interest rate. The bank will use these allocations to facilitate electronic payment methods for medical professionals within this initiative aimed at digital transformation and comprehensive financial inclusion. The loan plan, which is part of a larger healthcare financing scheme, allows medical practitioners to obtain loans to open or upgrade their clinics with the necessary equipment and facilities, without any minimum loan amount or legal obligation requirements. The Central Bank's board has recently decided that this loan program will be extended indefinitely, highlighting its significance in providing financial support for healthcare professionals and contributing to Egypt's overall economic development.

According to the United Nations World Tourism Organization (UNWTO), international tourism has rebounded with a record 1.5 billion tourists globally in 2019, and it is expected that the number of international tourists will return to the pre-pandemic levels around July 2022, while domestic tourism has seen an upswing thanks to COVID-19 restrictions on international travel. As countries continue to ease lockdowns and open their borders for tourists, there are a few things that could impact the full recovery of the tourism industry, including the pace of vaccine distribution, the rate of new infections, and the effectiveness of various measures taken by governments worldwide to contain the spread of the virus. However, assuming that the current trends continue: 1. If all goes as planned with the vaccination campaigns, and there are no major setbacks in distribution or efficacy, we can expect a return to **near pre-pandemic levels by July 2022** at the latest, though this timeline is subject to change depending on vaccine availability. As for domestic tourism within countries, if all goes according to the current plan: * The **timeline for a full domestic recovery will likely be in line with international tourism.** And if there are any disruptions in the supply of vaccines or their effectiveness: * A **slight delay is possible, but it should not significantly impact the overall trend towards a recovery in both domestic and international tourism**. 2. If we see a continued increase in the rate of vaccine distribution, and there's a steady decrease in new cases and hospitalizations, we could potentially see a faster return to **near pre-pandemic levels by June 2022.** However, the above scenarios are dependent on several factors such as travel restrictions being lifted, the resumption of international flights, and the general state of public health in each country. It's also worth noting that it is possible to **transition existing tourism infrastructure towards eco-tourism and clean energy usage.** Various projects are being implemented aimed at introducing natural gas and reducing transportation costs for a fee with an interest rate of 8%. This could potentially lead to: * A **more sustainable and environmentally friendly future for the tourism industry** by incorporating the use of cleaner energies such as natural gas, which is in line with the goals set forth by the United Nations Framework Convention on Climate Change (UNFCCC). * Additionally, transitioning vehicles within the tourism sector towards using natural gas could potentially reduce transportation costs for tourists and help offset some of the economic losses faced by the industry during the pandemic. In conclusion, while there are no guarantees in predicting the future, it is clear that with proper planning and implementation of sustainable practices, the tourism industry can continue to thrive and grow. The role of governments worldwide will be crucial in facilitating this transition towards a more sustainable and eco-friendly future for all.

According to recent news, the European Union plans to introduce a levy on non-green shipping from 2021 or earlier if possible, with a transition period lasting until at least July 2022. This means that: Option 1: A transition period of at least one year is planned for a green tax rate to begin. It could be introduced as soon as April 2021 and no later than August 2021, depending on the progress of the initiative. The deadline for the transition period will be extended if necessary. According to the second option, which appears likely: There would be a transition period lasting at least one year before the introduction of a green tax rate. It could start as early as April 2021 and no later than August 2021, depending on the progress of the initiative. The deadline for the transition period will also be extended if necessary. Both options state that: **By 2022**, ships must have at least one green technology installed (e.g., batteries, hybrid systems, etc.). In addition, there would be a deadline for installing green technologies on all ships by 2025. Additionally, it has been suggested that the tax rate could increase gradually over time, perhaps every two years or so, depending on the progress of the initiative and the availability of green technologies. This also implies that there is a possibility for the transformation of **maritime transport into green and clean energy use**. Projects include introducing natural gas and also taking into account the costs of converting different categories of ships to operate with natural gas, as part of an initiative by the central bank at a discounted rate of 8%. They also accepted a high level of ambition. "Patrick Gallus, Head of Unit for Climate Action in Transport, European Commission."

The letter informs the recipient of two circulars issued by the Central Bank of Egypt offering initiatives to support the tourism industry. The initiatives include financing for the renovation and renewal of hotels and floating hotels, as well as funding for the payment of salaries, wages, and maintenance expenses. The repayment period for these loans has been extended until June 2022, with the first installment due in July 2022. The letter also mentions that the bank is committed to supporting the tourism sector and its employees in light of the challenges faced by the industry internationally. Additionally, it emphasizes the possibility of financing the transformation of tourism establishments into green establishments and the use of clean energy, including projects for the adoption of natural gas for vehicles.

The chapter discusses the regulations for providing financial product sales services issued by Egyptian banks and issuing dollar savings books for the Central Bank of Egypt through the National Postal Authority. The agreement between the National Postal Authority and the bank should include clear rules and regulations, and the bank must obtain the Central Bank's approval to ensure the financial solvency of the bank providing these services. The interest and commission rates for dollar savings books should be determined by the Central Bank of Egypt.

يتناول الفصل الرابع من الوثيقة ضوابط مزاولة نشاط الاكتتاب، والتي تشمل ضوابط مزاولة نشاط تغطية الاكتتاب، وعمليات تلقي الاكتتابات نيابة عن بعض الجهات. يجب على البنوك الراغبة في مزاولة نشاط تغطية الاكتتاب تقديم طلب إلى البنك المركزي المصري للحصول على موافقة، مع مراعاة متطلبات معينة مثل الملاءة المالية وحدود التعرض. كما يجب على البنك تقديم دراسة جدوى اقتصادية وافية، والحصول على موافقة البنك المركزي المصري على عملية تغطية الاكتتاب. وفيما يتعلق بعمليات تلقي الاكتتابات، يجب على البنوك الراغبة في مزاولة هذا النشاط تقديم طلب إلى البنك المركزي المصري للحصول على موافقة، مع مراعاة بعض الشروط مثل الالتزام بحدود التعرض.

The chapter outlines regulations for primary dealers of treasury bills and government bonds, including minimum capital requirements, licensing procedures, and restrictions on activities. It also mentions the Central Bank of Egypt's decision to issue regulations for the dealers, with the aim of maintaining stability and transparency in the market. The chapter further emphasizes the importance of compliance with these regulations and the potential consequences for non-compliance.

The Central Bank of Egypt's board of directors approved the general framework for providing commercial registry and notary services within bank branches in June 2021. Banks registered with the Central Bank of Egypt can offer commercial registry services to all, while notary services are initially limited to bank clients. Banks must apply to the Central Bank for approval before contracting with the relevant ministries and ensure separation of these services from banking activities.

The Central Bank of Egypt is committed to developing the banking sector to enhance its safety, stability, and contribution to Egypt's sustainable economic growth. To keep up with the latest international practices in banking supervision, the Central Bank has adopted the Basel Committee on Banking Supervision's approach to identifying banks that are systemically important globally (G-SIBs) and locally (D-SIBs). This framework includes additional loss absorbency requirements for these banks to reduce the likelihood and impact of their failure or distress. The Central Bank has prepared a study to identify D-SIBs and, based on this, has decided that the Central Bank of Egypt will identify D-SIBs according to the attached methodology.

قرر مجلس إدارة الهيئة العامة لسوق المال في اجتماعه رقم 10 بتاريخ 10/2/2004 الموافقة على قواعد مزاولة نشاط بنوك الإيداع، والتي تضمنت تعريف بنوك الإيداع، وضوابط مزاولة النشاط، وحقوق والتزامات بنوك الإيداع، وحقوق والتزامات عملاء بنوك الإيداع.

The fifth chapter of the document outlines the regulations for the practice of custodianship activities. It was decided by the Council of Ministers on 28/02/2002 that the regulations for the practice of custodianship activities would be amended to include the following four articles. These articles outline the requirements and procedures for obtaining a license to practice as a custodian, as well as the responsibilities and obligations of licensees.

The chapter sets out regulations for banks to follow when engaging in bancassurance activities in Egypt. Banks must adhere to the Insurance Supervision and Control Law No. 10 of 1981 and its executive regulations, refraining from agreements with insurance companies that involve underwriting or claims settlement on their behalf. When advertising insurance products, banks must disclose the insurance company's full name and avoid claiming that insurance is free. Banks must also maintain account confidentiality and ensure the separation of banking and insurance operations when hosting insurance company employees on their premises. To engage in bancassurance, banks must obtain approval from the Central Bank of Egypt and comply with specific guidelines, including conducting due diligence on insurance partners and obtaining necessary licenses and approvals from the Financial Regulatory Authority.

يتناول الفصل الثاني عشر صناديق الاستثمار وأسواق النقد، حيث يُناقش الجزء الأول صناديق الاستثمار، ويُحدد القوانين واللوائح التي تحكمها، بما في ذلك دور البنك المركزي المصري في الإشراف والرقابة. بينما يركز الجزء الثاني على صناديق أسواق النقد، ويحدد بعض الضوابط الخاصة بصناديق الدخل الثابت، مثل الحد الأقصى للاستثمار في هذه الصناديق، ومتطلبات رأس المال الأساسي، والإجراءات اللازمة للتحقق من هوية العملاء.

The chapter discusses the rules and regulations regarding the maximum amount of bonds that banks are allowed to issue or guarantee. It also mentions the conditions that need to be met for the issuance or guarantee of these bonds. The chapter further emphasizes the importance of adhering to these regulations to ensure the stability and security of the financial system.

تتضمن هذه التعليمات التنظيمية تعريفات للحسابات الخاملة، والعملاء ذوي الحسابات الخاملة، والحسابات النشطة، والحسابات غير النشطة. كما أنها تحدد إجراءات إنشاء الحسابات، وتوضح متى يُعتبر حساب العميل خاملاً، وتنص على إخطار العميل. بالإضافة إلى ذلك، تتناول التعليمات حماية حقوق العملاء، والرقابة على الحسابات الخاملة، والاستثناءات من تطبيق هذه التعليمات. وتؤكد على أهمية مراجعة الرسوم المفروضة على الحسابات الخاملة، خاصة تلك التي تحتوي على أرصدة منخفضة، أو التي تم تصنيفها باستخدام قواعد التعرف على العميل.

Banks must obtain the approval of the Central Bank of Egypt for the issuance of new savings systems, including the rules governing customer withdrawals and the minimum duration before withdrawal. The minimum duration for withdrawal before the maturity date is six months, and the interest rate on the certificate is either fixed or variable. Full disclosure is required when announcing new issuances, including key features and terms, so that customers can make informed decisions before subscribing.

The first chapter of the Capital Adequacy Standard outlines the rules for application, including the scope, definitions, and various types of capital requirements. It also covers the calculation of capital adequacy, the treatment of specific risks, and the use of internal models. The chapter emphasizes the importance of maintaining sufficient capital to cover potential losses and ensure financial stability.

Banks registered with the Central Bank of Egypt must maintain a 10% reserve of their total foreign currency deposits. This reserve must be calculated at the end of each month and settled in US dollars. Banks must also submit a monthly report on their foreign currency deposits to the Central Bank of Egypt within a maximum of 15 days from the end of the month.

ينص الفصل السابع على الحدود القصوى لتوظيفات البنك لدى العميل الواحد والأطراف المرتبطة به والأطراف ذوي العلاقة بالبنك والمرتبطة بهم. ووفقاً لقانون البنك المركزي المصري، يجب على كل بنك الالتزام بالحدود القصوى لتوظيفاته، والتي تختلف باختلاف العميل وعلاقته بالبنك. كما يحدد الفصل تعريف توظيفات البنك ومفهوم العميل الواحد، حيث تشمل التسهيلات الائتمانية والقروض وأي صورة من صور التمويل. ويتم تعريف العميل الواحد على أنه أي شخص يمتلك أكثر من 5% من أسهم البنك أو له حق الإدارة أو السيطرة عليه.

The Central Bank of Egypt has issued instructions for the application of liquidity risk management in the framework of Basel III, which includes the gradual application of the liquidity coverage ratio to reach 100% in 2019 and the net stable funding ratio with a minimum of 100%. These instructions apply to all banks operating in Egypt, including foreign bank branches. Banks must prepare the liquidity coverage ratio and net stable funding ratio on an individual basis (bank branches inside and outside the country) every two months and on an individual and/or consolidated basis (including the banking group, bank, and all its branches inside and outside the country and all financial subsidiaries except insurance companies) at the end of each quarter. Banks must apply the liquidity coverage ratio gradually for both local and foreign currencies according to the following schedule: 70% in 2016, 80% in 2017, 90% in 2018, and 100% in 2019. Banks must also maintain a minimum net stable funding ratio of 100% for all currencies (local and foreign) and for each currency separately within a maximum period of three months from the end of

أصدر مجلس إدارة البنك المركزي المصري قرارًا بشأن ضوابط حدود تركز توظيفات البنوك المسجلة بالبنك المركزي المصري لدى الدول والمؤسسات المالية والمجموعات المالية في الخارج. يحدد القرار تعريفات للمفاهيم الواردة، مثل إجمالي التوظيفات لدى الدولة، والقاعدة الرأسمالية، والمجموعة المالية. كما يحدد التزامات البنوك، بما في ذلك وضع استراتيجية خاصة بحدود التوظيف لدى الدول. ويحدد القرار أيضًا حدود الدول، والتي تنقسم إلى حدود إجمالي التوظيفات، وحدود التوظيفات عالية المخاطر. ويحدد القرار أيضًا حدود المؤسسات المالية والمجموعات المالية. ويحدد القرار أيضًا التزامات البنك المركزي المصري، بما في ذلك إصدار القرارات التنفيذية والإشراف على تطبيق القرار.

In an effort to diversify banks' client bases and reduce credit risk concentration, the Central Bank of Egypt has issued instructions regarding the concentration of credit portfolios in a limited number of large companies. Banks are given a year to comply with the instructions, which include calculating the total credit facilities granted to the top 50 clients, considering used and unused facilities, and applying additional risk weights to the excess value when calculating the capital adequacy ratio. To support banks during the COVID-19 pandemic, the Central Bank of Egypt decided to exempt banks from applying credit portfolio concentration limits for the top 50 clients until the end of December 2022.

Banks may be permitted to use their own credit assessment methodologies for determining the creditworthiness of their securities financing transactions counterparties, subject to certain conditions. These could include, but are not limited to, requiring banks to apply conservative and stable haircuts on the value of collateral, with a cap on how much they can discount based on market volatility; setting requirements for liquidity coverage ratios (LCRs) or net stable funding ratio (NSFRs) for securities financing transactions; ensuring that banks have sufficient capital to cover any risks involved in their SFT activities; and allowing banks to calculate the haircuts they apply to their own synthetic securities based on their internal models, as long as these are conservative and well-diversified.

يتضمن هذا الفصل معيار كفاية رأس المال، الذي يحدد المتطلبات العامة لتطبيق المعيار، ومتطلبات المخاطر الائتمانية، ومخاطر الطرف المقابل، ومخاطر السوق، ومخاطر التشغيل. كما يحدد الفصل أيضًا متطلبات الإفصاح والمواءمة بين التصنيفات الائتمانية الداخلية ونظام التصنيف الائتماني الأساسي.

The second pillar of Basel II requires banks to conduct an Internal Capital Adequacy Assessment Process (ICAAP) to ensure that they have sufficient capital to cover their risks. The ICAAP should be embedded in the bank's risk management and internal control framework and should be subject to effective internal validation and review by the bank's internal audit function. The ICAAP should be subject to effective supervisory review and challenge by the Central Bank of Egypt (CBE).

The Central Bank of Egypt's board of directors decided to adopt the Basel Committee on Banking Supervision's best practices for banking supervision. Banks are required to apply the following regulatory instructions regarding operational risk using the standardized approach. Banks are given until December 31, 2021 to align with the new requirements. The standardized approach (SA) for operational risk will replace the current basic indicator approach. The instructions are part of the Basel III regulatory framework. All banks are required to adopt the standardized approach to calculate their regulatory capital requirements for operational risk. The approach simplifies the regulatory framework and addresses weaknesses in the previous four approaches allowed by the Basel Committee. It combines the bank's business indicator and the bank's operational risk losses to calculate the required regulatory capital. The approach also improves the sensitivity of the framework to risk and enhances comparability of bank results across banks and countries.

The Central Bank of Egypt is committed to applying the Basel Accords to ensure the stability of the Egyptian banking system. In this context, the Central Bank of Egypt has issued instructions regarding the leverage ratio, which is a measure of a bank's financial stability. The instructions include the scope of application, the components of the ratio, and the treatment of various types of assets and liabilities. The Central Bank of Egypt has also provided a model for calculating the leverage ratio.

يغطي هذا الفصل إدارة مخاطر السيولة، مع التركيز على تطوير نظام مراقبة إدارة السيولة في البنوك. ويحدد المتطلبات الأساسية لنظام مراقبة إدارة السيولة، بما في ذلك أهمية وجود سياسة واضحة لإدارة السيولة، وضرورة مراقبة وإدارة السيولة بشكل يومي، وأهمية تحديد آجال الاستحقاقات، وضرورة مراقبة التزامات الإقراض والاقتراض. كما يتناول الفصل العناصر الأساسية لسياسة إدارة السيولة، مثل تحديد أهداف السيولة، واختبار الضغط، وإدارة مخاطر السيولة.

The chapter discusses liquidity risk management, specifically the local and foreign currency liquidity ratios that banks in Egypt must adhere to as per the Central Bank of Egypt's regulations. The minimum liquidity ratios for local and foreign currencies are set at 20% and 25%, respectively. The components of the numerator and denominator for calculating these ratios are outlined, including various financial instruments and liabilities. Non-performing assets, collateralized assets, and liabilities are excluded from the calculation. The average daily balance method is used to compute the ratios, and non-compliance may result in penalties as per the Central Bank of Egypt Law.

On March 10, 2022, the Central Bank of Egypt extended the deadline for banks to provide a 100% cash cover for import operations for wheat, corn, and lentils until March 15, 2023. This decision aims to ensure the availability of essential goods and maintain stability in the Egyptian market. Banks are requested to take the necessary measures to implement this decision, considering the creditworthiness of each bank.

In Cairo on March 10, 2022, the Governor of the Central Bank of Egypt referenced a book dated December 21, 2015 and another published on March 23, 2021. He announced that starting from June 2022 until January 2023, banks will not be allowed to exchange old Egyptian pound notes and coins at a rate greater than 100%. This rule applies to individuals as well, with the exception of urgent transactions. The Central Bank also plans to end the process of exchanging old currency after January 2023. Therefore, it is recommended that individuals make use of this opportunity before it ends.

In Cairo, on March 10th, 2022, the Central Bank of Egypt discussed the limitations imposed by the Law No. 93/1948 regarding the foreign exchange remittances and interest rates. The law dated December 21st, 2015, limited such transactions to a certain percentage for each type of currency. This was followed up by another rule on March 23rd, 2021, which further narrowed it down to a total of fifteen major currencies. As per the recent decision on March 15th, 2023, all those who perform these transactions will have to comply with this rule as it focuses on addressing citizens' needs, especially in managing savings accounts and bank deposits. Therefore, the bank has urged people to abide by this new directive.

The letter, dated March 8, 2022, is addressed to the Chairman of a bank, informing him of a decision by the Minister of Trade and Industry that amends Article 17 of a previous ministerial decision regarding the clearance of imported goods for private use. The amendment exempts certain imports from the requirement to pay for them through recognized banking payment methods and instead allows for direct release by customs. These exemptions include goods valued below $25,000 imported once every six months, machinery and equipment for Egyptian companies' overseas projects, imports by embassies and consulates, and cases approved by the Minister of Foreign Trade. The letter requests the bank's compliance with the decision and consideration of the exemptions outlined in its second article.

The letter, dated January 10, 2022, is addressed to the Chairman of the Board of Directors of a bank in Cairo, Egypt, from Tarek Amer, and regards instructions for emergency liquidity. The letter outlines the Central Bank's approval of the general framework for emergency liquidity instructions, which are designed to support banks facing short-term liquidity crises and maintain the stability of the financial system. The instructions include eligibility criteria, such as financial soundness and adequate collateral, with a focus on short-term funding at higher-than-average interest rates. The letter also details the application process, required documentation, and terms for extending the funding period.

In a letter dated December 29, 2021, the Central Bank of Egypt requested that banks waive fees and commissions on various banking services, including electronic transfers, mobile payments, and ATM transactions, for a period of six months starting January 1, 2022. This initiative aims to reduce the reliance on cash and encourage the use of electronic payment methods, particularly among private sector merchants and micro, small, and medium-sized enterprises (MSMEs). Banks are also urged to promote the use of national payment cards and quick response codes for online transactions.

1. **تطوير مستشفيات البنك**: هذا يعني إصدار مستشفيات البنك لتحقق مع استضابات المالية الجديدة. يمكن أن تتضمن تطوير مستشفيات البنك بشكل خاص ، وذلك على أساس "Contactless" الذي يسمح للجاهِز بإجراء التحويلات على النظام الأصل بدون استخدام سطرة شفرات. 2. **تحديث ويب آلي (APIs)**: يقود مهمة تطوير "Contactless" إصدار ويب آلي (APIs) أكثر جودة وسرعة. يتضمن ذلك تحديث التقنيات في تجميع البيانات وإدخال "Payment Tokenization" وعمليات "Card on File". 3. **إصدار منظومة الأستثمار**: هذا يقود مهمة تحسين مكانات الاتصال بين جهي "Investment Accounts" وب عد أصب. تضم "Payment Tokenization" وعل تحين الإمال. 4. **إزم التشف (TCF)**: هذ يطق إخاء التشف، وهذ يكسب مجمة خب أكثر "Contactless" عند ضغة. 5. **إصدار مجمة تحويل النق (NQ)**: هذ يطق إخاء مجمة تحويل النق "Non-Qualified Cash"، وهذ يكسب مجمة خب أكثر "Contactless" عند ضغة. 6. **إصدار "الطبة التحويل في الكترية"**: هذ يطق إخاء التحويل في الكترية، وهذ يكسب مجمة خب أكثر "Contactless". 7. **إصدار "القيم التحويل"**: هذ يطق إخاء القيم التحويل، وهذ يكسب مجمة خب أكثر "Contactless". 8. **إصدار نظ الشفة**: هذ يطق إخاء الشفة وهذ يكسب مجمة خب أكثر "Contactless". 9. **إصدار "التحويل بسات"**: هذ يطق إخاء التحويل بسات، وهذ يكسب مجمة خب أكثر "Contactless". 10. **إصدار "الإضاف"**: هذ يطق إخاء الإضاف، وهذ يكسب مجمة خب أكثر "Contactless". يرج مع تفضل بشر أن في احد نقوم في المشات الجدة (مجمات صالة)، هذ يكسب مجمة خب أكثر "Contactless". في حال نقوم في مجمة صالة، تكون العمل الطبي على مسار الإنترنت الخاصة. وفي حال نقوم من "Always On" (الدون غير الشهري)، لا تكون عمل الطبي على مسار الإنترنت الخاصة. 11. **إصدار "القيمة الأفية"**: هذ يطق إخاء "Always On". وهذ يكسب مجمة خب أكثر "Contactless" عند ضغة.

On December 23, 2021, the Egyptian Central Bank's Board of Directors decided to extend the validity of the instructions outlined in the circular issued on November 23, 2020, until the end of September 2022, while maintaining the effectiveness of the remaining provisions from the instructions issued on January 29, 2019. The letter requests that the addressee take the necessary steps to implement the aforementioned decision.

Date: December 23, 2021 Dear Esteemed/Chairman of the Board of Directors of Central Bank of Egypt With great pleasure and appreciation, we would like to inform you that according to your directives and instructions, starting from August 23, 2021, the Central Bank of Egypt decided: - Extend the working period stipulated in the previous circulars for a period of two months until the end of December 2021. - Continue implementing all the remaining instructions issued in the circular dated January 29, 2019 with appreciation and thank you very much for your approval. With great respect, Jamal Nageh

The letter announces decisions made by the Central Bank of Egypt on December 21, 2021, regarding initiatives to support the tourism sector. The key decisions include extending the tourism sector support initiative for an additional year until December 2022, allowing requests for deferment of dues to banks for up to 3 years, and extending the retail loans initiative for tourism sector employees for a year. The letter also mentions the possibility of deferring dues for clients in the tourism sector who previously benefited from the retail loans initiative since its launch in December 2015.

The Egyptian Central Bank's Board of Directors has agreed to: 1. Extend the duration of tourism industry support measures for one year until December 2022, without accepting any loan extension requests for up to three years with a guarantee of not altering existing conditions or implementing new restrictions. 2. Prolong the implementation period of small and medium enterprises' credit facilities in the tourism industry until December 2022. Loan maturities will be extended by an additional six months under the agreement, provided that loans are repaid with a grace period if necessary. 3. The bank will continue to rely on external auditors' reports based on IFRS standards. 4. Extension of loan repayment terms for employees in the tourism industry who have already utilized the tourism sector credit facilities since their introduction on December 2015, subject to the usual conditions and procedures.

In a letter dated December 14, 2021, the Central Bank of Egypt instructed banks to implement stricter policies for managing and writing off non-performing loans to align with international best practices and improve the asset quality of the banking sector. The key directives include ensuring internal policies have provisions for writing off non-performing loans within a maximum of 3 years, prioritizing the liquidation of cash-backed credit facilities upon payment delays, and requiring board approval for loan write-offs after a thorough review by the bank's risk committee. Banks are granted an 18-month grace period to align their practices with these instructions.

I would be pleased to help you, but it seems that the instructions you have are already in English. However, if you want a detailed clarification of these regulations, I can definitely do that for you. Here is an interpretation of each regulation: 1. The Bank must assess and monitor all unsecured obligations of the client and take effective steps to ensure that their overall exposure to any one person does not exceed 25%. 2. If the borrower fails to meet this requirement, they must be classified as unsecured within three years or the lender's classification of them would have been upgraded as per instructions given below: a) If the bank has made an effort to restructure or reschedule with the borrower but failed, the client will be deemed unsecured after 4 years. b) If the borrower is a government-owned entity and it continues to fail in paying its dues within four years of failure, the lender should upgrade their classification as per instructions given below: 1-4: In case of continued non-compliance by the government owned entity, the bank will have 4 years from the time of such classification. 3. It is mandatory to terminate the exposure to a borrower who is classified as 'unsecured' after two years, provided he does not comply with the restructuring or rescheduling agreement. 4. If the borrower has been compliant with any restructuring or rescheduling agreement made by them, they would be granted up to two more years from the time of classification before terminating their exposure as per instructions given below: 1-4: In case of continued compliance with such an agreement for two years, the bank will have four years. 5. It is mandatory on the Bank to undertake steps to ensure that its non-performing loans are provisioned adequately and these provisions must be maintained continuously. 6. The Bank should continue to restructure and reschedule its non-performing loans as per its internal policies and procedures, and submit these periodically to its Board of Directors as well as the Supervisory Committee for monitoring purposes. 7. The Bank must continue to assess and monitor all unsecured obligations of the client and take effective steps to ensure that their overall exposure to any one person does not exceed 25%. And continuously analyse and report these exposures to its Board of Directors on a quarterly basis as per instructions given below: 8. The Bank will be granted a period of 18 months from the date of issuance of these guidelines, during which it must review all unsecured obligations of clients that are due for repayment and reschedule or restructure them as necessary within this timeframe. I hope this interpretation helps you. If you have any further questions, please don't hesitate to ask.

Firstly, regarding the implementation of the guarantee scheme for small and medium-sized enterprises (SMEs), it was agreed that all conditions must be met in full to ensure smooth application. Moreover, they confirmed their commitment to continuing the provision of credit guarantees at the same level as per the third stage, until SMEs manage to achieve the conditions required for advancement to the second phase. Secondly, regarding the special treatment granted to small and medium-sized enterprises due to the current situation: SMEs must upgrade their financial position from the third level to the second level while maintaining the provision of credit guarantees at the same level as per the third stage until SMEs can achieve the necessary conditions for upgrading. This is to ensure that their credit guarantee provision can be maintained at the second level. Thirdly, it was agreed that all what had been previously implemented will remain applicable for a period of 18 months from the specified date. Fourthly, banks are required to review the debt restructuring facilities provided to SMEs based on their current financial position and cash flows. This is done in order to achieve an appropriate level of debt rescheduling for each enterprise according to its capacity to repay, ensuring that banks can use this option, among others, to evaluate the borrower's situation and that of the customer, including: i) extending the term of debt rescheduling, ii) reviewing installment payment schedules, iii) providing additional facilities available for banks. Finally, they expressed their appreciation for the high level of trust and confidence placed in them.

In light of the ongoing impact of the COVID-19 crisis on various economic sectors, especially small and medium-sized enterprises (SMEs), the Central Bank of Egypt has decided to implement several measures to alleviate the burden on these businesses and help them continue their operations, production, and employment maintenance. These measures include extending the period for classifying customers in the third stage of debt repayment to 180 days, promoting customers from the third to the second stage if their dues are less than 180 days, and emphasizing the need for banks to restructure credit facilities for customers after assessing their financial position and cash flows. These measures will be in effect for 18 months from the date of the letter.

On December 9, 2021, the Central Bank of Egypt decided to extend the exemption of banks from applying the second item of the January 6, 2016, decision regarding credit concentration limits for the top 50 clients and related parties until the end of December 2022. The decision was made to support the banking sector in assisting the Egyptian economy and dealing with the repercussions of the COVID-19 pandemic.

The Central Bank of Egypt (CBE) has decided to extend the second phase of bank liquidity control until December 2022. This decision was made following a meeting on December 9, 2021. It's part of the Central Bank's effort to help banks maintain high levels of liquidity and support them in dealing with the risks associated with COVID-19, as per the guidelines issued by the CBE Governor on April 7, 2019. The governor, Hisham Ramez, emphasized that the bank's decision is subject to the initial announcement, which was made on July 6, 2016.

The Instant Payment Network (IPN) rules and regulations are outlined in this document, which is intended for banks and payment service providers (PSPs) operating in Egypt. The Central Bank of Egypt (CBE) is working to increase financial inclusion and digital transformation, and these rules aim to establish a framework for banks and mobile applications to provide instant payment services to all segments of society. The rules cover a range of topics, including definitions, scope, risk management, strategic, operational, and legal risks, anti-money laundering and counter-terrorism financing, and general provisions.

The Central Bank of Egypt has issued rules for instant payment services within the country. These rules aim to facilitate the use of electronic payment tools and provide appropriate banking services to all segments of society. The rules outline the responsibilities of banks and payment service providers in managing risks, protecting customer data, and ensuring the security and integrity of the instant payment network.

The letter is addressed to the Chairman of the Board of Directors of a bank, informing him of the approval by the Central Bank of Egypt's Board of Directors to update the licensing and registration rules for banks and representative offices, as well as the suspension of partial and total operations. The letter also mentions that the instructions have been published on the Central Bank's website and can be accessed via a provided link.

Below is a concise summary of the provided text: 1. The Central Bank of Egypt (CBE) has the authority to revoke, amend or extend the license of foreign banks operating in Egypt at any time it sees fit. 2. All activities must adhere strictly to CBE regulations and laws. Failure to do so may result in temporary or permanent suspension of business operations, cancellation of licenses, or other legal consequences. 3. If a bank wishes to close its Egyptian branch, it should notify the CBE 30 days prior to the date set for closure. The CBE will then decide whether to grant approval within two weeks. 4. Foreign banks operating in Egypt may not engage in non-permitted activities or transactions that have negative economic or security implications. 5. If a bank is found to be violating any rules, regulations, conditions, or laws related to its license, the CBE can take necessary action, including temporary or permanent suspension of business operations, cancellation of licenses, or other legal actions. 6. The Central Bank reserves the right to request additional information and documentation from foreign banks at any time if it deems necessary. 7. If a bank decides to transfer its license to another party, it must obtain approval from the CBE before doing so.

In a letter dated November 11, 2021, the Central Bank of Egypt's Board of Directors decided to amend the Bank Governance Instructions issued on August 23, 2011, regarding the formation of bank boards. The amendments emphasize the importance of having a diverse and qualified board, with a majority of non-executive members, including at least two independent non-executive members. The changes also stipulate a clear separation between the roles and responsibilities of the Chairman of the Board and the CEO, with the Chairman being a non-executive member.

The letter, dated November 11, 2021, is addressed to the Chairman of the Board of Directors of a bank in Cairo, Egypt. It refers to the Central Bank's decision to amend the Corporate Governance Instructions for banks issued in 2011, emphasizing the importance of qualified board members with diverse skills and experiences, gender diversity, and a majority of non-executive members. The amendments include changes to the composition of the board, the separation of roles between the Chairman and the CEO, and the duration of non-executive board membership.

The letter, dated October 4, 2021, is addressed to the Chairman of the Board of Directors of a bank in Cairo, Egypt. It refers to the real estate financing initiative launched in December 2019, which allocated 50 billion Egyptian pounds through banks for middle-income individuals and families with a maximum monthly income of 40,000 and 50,000 Egyptian pounds, respectively. The letter announces amendments to the initiative's terms and conditions, including increasing the maximum unit price, removing the maximum net unit area limit, and extending the maximum financing period to 25 years. These changes aim to benefit a larger number of citizens and provide more flexibility in the application process. The letter also includes a table detailing the revised compensation calculation for early repayment or unit sale.

The letter, dated October 4, 2021, announces amendments to the real estate financing initiative launched in December 2019, which allocated 50 billion Egyptian pounds through banks to middle-income individuals and families. The amendments include increasing the maximum unit price, removing the maximum net unit area limit, and extending the maximum financing period to 25 years.

1. The main goal is to stop the hunting of whales and dolphins. 2. We must cooperate with countries that still allow this practice. 3. Encourage traditional fishermen not to use weapons to hunt them. 4. Develop alternative income sources for these communities. 5. Educate and involve local communities in the process. 6. Monitor the situation regularly and make necessary adjustments. 7. Work with banks and financial institutions to ensure funds are allocated appropriately. 8. Achieve a positive outcome within a set timeframe, providing regular updates.

The letter, dated September 30, 2021, is addressed to the Chairman of the Board of Directors of a bank in Cairo, Egypt. It highlights the Central Bank of Egypt's focus on financial inclusion, protecting customer rights, and facilitating financial and banking transactions for citizens. It also addresses some challenges related to financial transactions for minors and guardians, such as difficulties in withdrawing funds from accounts without a valid bank statement and opening accounts in their names. The letter instructs the recipient to coordinate with relevant authorities to implement specific transactions, including facilitating the withdrawal of monthly allowances or pensions with a court order and opening accounts for minors with the guardian's chosen bank, ensuring withdrawals are made with court approval.

In a statement on September 30, 2021, the Central Bank of Egypt (CBE) expresses its commitment to ensuring financial stability, protecting consumer rights, and facilitating conditions for banks to operate efficiently. Additionally, it addresses several issues regarding the application of banking procedures and transparency in public money management. The CBE highlights that it has introduced new measures aimed at improving account transparency, such as: - Opening zero-balance accounts for all banks chosen by executors, with withdrawals subject to approval by the Ministry of Justice. - Obtaining a Ministry of Justice certificate for each opened account. The CBE also urges compliance with these measures and requests the highest level of respect. The statement is signed by Hany Aly, Governor of the Central Bank of Egypt.

في 30 سبتمبر 2021، أرسل رئيس مجلس إدارة البنك المركزي المصري خطابًا إلى رئيس مجلس إدارة بنك القاهرة بشأن توجيهات البنك المركزي المصري المتعلقة بخدمات العملاء ذوي الإعاقة. ويشير الخطاب إلى أن مجلس إدارة البنك المركزي المصري وافق على التعليمات التي تهدف إلى ضمان المساواة وعدم التمييز ضد العملاء ذوي الإعاقة، مع التركيز على الخدمات المصرفية الرقمية والخدمات والمنتجات المالية. ويشمل ذلك قواعد عامة، وإجراءات العناية الواجبة، ومبادئ العدالة والإنصاف، والشفافية، وتوفير البنية التحتية المناسبة للعملاء ذوي الإعاقة، وتدريب الموظفين، وفترة لتوفيق الأوضاع. ويطلب البنك المركزي المصري من بنك القاهرة اتخاذ الإجراءات اللازمة لتنفيذ هذه التعليمات.

The Central Bank of Egypt has issued instructions for banks to prepare recovery plans to ensure their readiness and ability to respond effectively to potential economic or financial pressures. The plans aim to enhance the resilience of the Egyptian banking sector by establishing a culture of crisis management. Banks are required to submit their first recovery plan within 90 days of the end of the 2022 financial year. The plans should include a comprehensive set of assumptions, potential adverse events, and corrective actions to restore financial stability. The scope of application covers all banks operating in Egypt, including domestic and foreign bank branches and subsidiaries. The plans should be updated every two years or when significant changes occur in the bank's activities, structure, or investments. The plans should also align with the bank's risk management framework and include detailed financial and operational information. The Central Bank will review and evaluate the plans to ensure their quality, effectiveness, and compliance with regulatory requirements.

The Central Bank of Egypt has issued instructions for banks to develop recovery plans to enhance their resilience and ability to respond effectively to potential economic or financial pressures. The plans aim to ensure the stability and safety of the Egyptian banking sector by addressing potential financial challenges and maintaining liquidity and profitability. Banks are required to submit their first recovery plan within 90 days of the 2022 financial year-end. The plans should include a strategic analysis of the bank, key performance indicators, recovery options, and stress test scenarios.

In summary, the Central Bank of Bahrain (CBB) has issued new guidelines to local banks regarding the management and reduction of non-performing loans (NPLs). These measures include regular reviews of borrowers' financial standing, mandatory inspections for borrowers with high delinquency rates, and an increase in the provisioning rate for NPLs. Banks must also report monthly to the CBB on all outstanding loans and employees on leave. The Central Bank has provided a grace period of six months from the date of issuance of these guidelines. Additionally, banks must ensure that they are complying with the minimum standards of customer due diligence when opening accounts. Finally, the CBB will review the performance of each bank annually to assess whether their NPL reduction efforts are effective.

The letter outlines the Central Bank's decision to issue a unified definition of active and dormant accounts in the banking sector to accurately measure financial inclusion. It defines dormant and active accounts and outlines procedures for reactivating dormant accounts. Banks are instructed to notify customers before and after classifying their accounts as dormant, waive fees for reactivation, and protect customer rights. The letter emphasizes the importance of reducing fees for dormant accounts, especially those with low balances.

هذه القواعد هي الحد الأدنى المطلوب لتقديم البنوك خدمات الإيداع والسحب النقدي من خلال مقدمي الخدمات في مصر. يجب على البنوك التأكد من اتخاذ جميع الإجراءات اللازمة لإدارة المخاطر المرتبطة بهذا النوع من الخدمات، مع مراعاة الضوابط الرقابية والقواعد المنظمة لخدمات الدفع باستخدام البطاقات المدفوعة مسبقًا. تشمل الضوابط التعاقدية لمقدمي الخدمات تحديد المسؤوليات التعاقدية للبنك ومقدم الخدمة، وملكية البنك لبيانات العملاء، والالتزام بسرية البيانات، واتفاقية عدم الإفصاح، واتفاقية مستوى الخدمة. يجب على البنك القابل تفعيل نظام إلكتروني للتحكم في قبول/رفض عمليات الإيداع النقدي بناءً على رصيد مقدمي الخدمات لحظيًا. يجب أيضًا التأكد من جدارة مقدمي الخدمة وضمان عدم قيامهم بعمليات احتيال أو تخزين بيانات أدوات الدفع الإلكترونية. يجب أن تكون جميع المعاملات بالجنيه المصري

The Central Bank of Egypt has issued new regulations for banks operating as intermediaries to offer direct debit and credit services. These new rules are part of a broader effort by the Egyptian government to encourage digital payments, reduce cash usage, and improve financial inclusion. Under these new guidelines, banks must obtain a specific license from the Central Bank of Egypt (CBE) to offer direct debit or credit services. The bank is required to submit monthly reports on the types and values of operations along with the CBE's request for additional information. Banks must also adhere to the requirements of the Payment Systems Law, which was issued in November 2018. These new regulations require banks to obtain a separate approval from the Central Bank of Egypt before they can make payments using their official website (https://egy.mwg.416777)).

In an effort to reach more citizens and include all segments of society in the formal financial system, the Egyptian Central Bank has decided to increase the number of financial inclusion events throughout the year. These events will take place in September, coinciding with the country's celebration of Farmers' Day, and in December, coinciding with the International Day of Persons with Disabilities. The proposed activities during these events include allowing banks to set up booths outside their branches to offer appropriate banking products to customers, waiving account opening fees for new customers, issuing prepaid cards, encouraging the use of e-wallets, providing financial education, and conducting promotional campaigns through social media and other electronic means.

The Central Bank of Egypt is committed to reaching a wider range of citizens and targeting all segments of society to include them in the formal financial system. To achieve this, the bank has decided to increase the number of financial inclusion events throughout the year, coinciding with national holidays such as Farmers' Day in September and the International Day of Persons with Disabilities in December. The suggested activities during these events include allowing banks to set up outside their branches to promote appropriate banking products and services, waiving account opening fees for new customers, and promoting the use of prepaid cards and electronic wallets.

The proposed action plan for addressing climate change consists of the following steps: 1. Incorporating climate considerations into overall Bank policies and guidelines: * Updating existing policy frameworks to address climate change risks and opportunities. * Adopting new lending policies that take into account climate change-related risks. 2. Strengthening the identification, analysis, and management of climate change-related risks in all aspects of the Bank's activities: * Developing a comprehensive risk assessment framework for assessing and managing climate-related risks across all sectors and regions. * Strengthening the capacities of staff to effectively manage climate-change related risks. 3. Mainstreaming climate change considerations into key operational policies and strategies of the Bank: * Integrating climate change objectives into the Bank's strategic planning process and operational policies. * Implementing a comprehensive approach to integrating climate change considerations into the Bank's investment strategy. 4. Developing a robust framework for assessing and managing the environmental and social risks associated with the Bank's activities: * Conducting an in-depth risk assessment of all existing lending projects financed by the Bank, and developing an action plan to address any identified risks. * Strengthening the Bank's internal governance structures to better manage environmental and social risks. 5. Applying sustainability principles across all activities of the Bank: * Developing guidelines for applying sustainability principles to all aspects of the Bank's operations, including project identification, appraisal, supervision, and exit. * Strengthening the monitoring and evaluation processes to ensure that the Bank is effectively managing environmental and social risks. 6. Scaling up climate finance: * Developing a comprehensive framework for scaling up climate finance, including setting targets and establishing mechanisms to track progress. * Strengthening collaboration with other multilateral development banks and international organizations to mobilize additional funding for climate-related projects. 7. Encouraging private sector investment in climate change mitigation and adaptation: * Developing a comprehensive strategy for encouraging private sector investment in climate change mitigation and adaptation, including setting targets and establishing mechanisms to track progress. * Strengthening the Bank's capacity to provide advisory services and technical assistance to support private sector investment in climate-related projects. 8. Promoting innovative technologies and business models for addressing climate change: * Developing a comprehensive strategy for promoting innovative technologies and business models for addressing climate change. In summary, the proposed action plan addresses key aspects of climate change, including mainstreaming climate considerations across all sectors and regions. The plan calls for strengthening the Bank's risk management framework, scaling up finance for climate-related projects, encouraging private sector investment in climate mitigation and adaptation, and promoting innovative technologies and business models for addressing climate change.

يسعى البنك المركزي المصري إلى تعزيز مفهوم التمويل المستدام، الذي يساهم في دعم الاستقرار المالي والمصرفي وتحقيق أهداف التنمية المستدامة. ولتحقيق ذلك، أصدر البنك المركزي عدة مبادرات، مثل مبادرة الشركات الصغيرة والمتوسطة، ومبادرات القطاع الصناعي والزراعي والسياحي والمقاولات، ومبادرة التمويل العقاري، ومبادرة إحلال المركبات للعمل بالوقود المزدوج، ومبادرة محطات الغاز. ويعد القطاع المصرفي أحد أهم القطاعات الداعمة للتنمية، ولذلك، لا يمكن تحقيق أهداف التنمية المستدامة دون دور فعال للبنوك في توجيه التمويل نحو الأنشطة الاقتصادية الأكثر استدامة. كما أن دمج العناصر البيئية والاجتماعية وقواعد الحوكمة له تأثير إيجابي على أداء الشركات وتقليل المخاطر، بالإضافة إلى كونه عاملًا مهمًا في جذب الاستثمارات الأجنبية. ولمواكبة التوجه العالمي نحو التمويل المستدام، أصدر البنك المركزي المصري المبادئ الإرشادية للتمويل

The graph shows the percentages of different groups based on their support for each candidate. Each row in the table represents a level of support (from 0% to 100%) and each column represents one of the seven candidates. The percentage values inside the table indicate the proportion of each group that supports each candidate at that particular level of support. The highest levels of support are at 100%, meaning everyone in that group supports that specific candidate. Lower percentages show a smaller portion of the respective group supporting the candidate. In cases where there is no value, it means that candidate has not received any support from that particular group at that level of overall support.

The letter announces a new initiative by the Central Bank of Egypt to provide affordable housing loans to low- and middle-income individuals at reduced interest rates. The initiative aims to support these individuals in acquiring suitable housing and stimulate the real estate sector, which has a significant impact on the economy and production. The letter outlines the terms and conditions of the initiative, including the maximum loan period of 30 years and the requirement for customers to be Egyptian citizens. It also highlights the importance of adhering to the credit granting guidelines issued by the Central Bank of Egypt and the procedures for customer evaluation and acceptance.

The Central Bank of Egypt has decided to abolish all credit card fees and commissions starting from July 1st, 2021, for all bank customers. This applies to all types of cards including credit, debit, and prepaid ones. Additionally, the bank announced that it will not charge any fees on online transactions made by small, medium, and large companies as a part of its Small & Medium-sized Enterprises (SMEs) development initiative. The Central Bank has also decided to exempt all credit cards from foreign exchange fees. The Central Bank also announced the abolishment of all types of fees charged on transactions made by credit cards such as annual fees, transaction fees, and late payment charges. In addition, the central bank will work closely with banks in Egypt to ensure the smooth implementation of these decisions.

وافق مجلس إدارة البنك المركزي المصري على الإطار العام الذي يمكن للبنوك من خلاله تقديم خدمات السجل التجاري والتوثيق داخل فروعها، مع السماح للبنوك العاملة في مصر والمسجلة لدى البنك المركزي بتقديم خدمات السجل التجاري والتوثيق داخل فروعها لعملائها فقط كمرحلة أولى. ويجب على البنوك الراغبة في تقديم هذه الخدمات الالتزام بالضوابط والإجراءات المحددة، بما في ذلك التأكيد على أن البنك ليس مسؤولاً عن هذه الخدمات، وتخصيص مكان مستقل داخل الفرع لتقديم الخدمات، والإعلان بوضوح عن أن الخدمات المقدمة صادرة عن وزارة التموين والتجارة الداخلية ووزارة العدل.

1. The Egyptian Central Bank (ECB) has agreed to allow commercial banks to offer real estate registration and title deed services through their branches, with the approval of both the Ministry of Trade and Industry, and the Ministry of Justice, provided they comply with all regulatory requirements and obtain necessary approvals from the concerned authorities. 2. The ECB will coordinate with relevant ministries, including the Ministry of Trade and Industry or the Ministry of Justice, to establish a mechanism for settling disputes between parties involved in transactions conducted through the real estate registration and title deed services offered by banks. 3. The Egyptian Central Bank (ECB) agrees that commercial banks may open separate bank accounts specifically designated for handling the services provided by the Real Estate Registry Authority and the Land Registrar, with the presence of both the debtor and the creditor in the accounts, inside the branches of the banks. 4. The ECB will require commercial banks to obtain prior approval from it if they intend to expand or amend their agreements with either the Ministry of Trade and Industry or the Ministry of Justice related to providing real estate registration and title deed services through their branches. 5. Any violation by a commercial bank concerning the terms set out in the above agreement shall result in the Egyptian Central Bank revoking its approval for that particular bank to provide real estate registration and title deed services through its branches.

In a letter to the Chairman of the Board of Directors of a bank, the author, likely a representative of the Egyptian Central Bank, requests the implementation of several measures to reduce fees and charges on various banking services, including electronic wallet issuance, mobile payment services, and ATM transactions, to promote a less cash-dependent society and support citizens. The letter also proposes a change in the interchange fees for cash withdrawals using prepaid and debit cards, increasing the withdrawal limit for a single transaction.

The UK's fiscal rules are set to be relaxed, with plans for an extension of the furlough scheme and additional spending measures. It is expected that the UK will borrow up to £394bn ($526.7bn) in 2021-2022, which would be a significant increase from last year's borrowing of £282bn. This move highlights that the government aims to support the economy during these challenging times due to the COVID-19 pandemic. The UK government has also unveiled its budget plans for 2022 to 2023, which include a temporary VAT cut extension and an increase in corporation tax. These measures are aimed at supporting businesses and individuals through the ongoing economic challenges brought about by the coronavirus pandemic. Additionally, the government is expected to announce further details on its infrastructure spending plans, as well as updates on other key areas such as housing and education. The budget plans for 2022-2023 are in line with the UK's fiscal rules which state that debt interest payments should not exceed 6% of tax revenues and the structural deficit must not surpass 2% of GDP. These rules have been relaxed due to exceptional circumstances caused by the COVID-19 pandemic, allowing the government more flexibility in its spending decisions. In summary, the UK's fiscal rules will be relaxed for the upcoming budget year, with an extension of the furlough scheme and additional spending measures planned. The government is expected to borrow up to £394bn in 2021-2022, which would be a significant increase from last year's borrowing of £282bn. This move highlights that the government aims to support the economy during these challenging times due to the COVID-19 pandemic. The budget plans for 2022-2023 are in line with the UK's fiscal rules which state that debt interest payments should not exceed 6% of tax revenues and the structural deficit must not surpass 2% of GDP. These rules have been relaxed due to exceptional circumstances caused by the COVID-19 pandemic, allowing the government more flexibility in its spending decisions. The measures being implemented are aimed at supporting businesses and individuals through the ongoing economic challenges brought about by the coronavirus pandemic.

في خطاب موجه إلى رئيس مجلس إدارة البنك بتاريخ 19 مايو 2021، يشير الكاتب إلى مراسالتين سابقتين مؤرختين 8 يناير 2020 و17 فبراير 2021، واللتين تتعلقان بتمويل البنك المركزي لشركات السياحة وشركات الطيران المصرية. ويشير الكاتب أيضًا إلى قرار مجلس إدارة البنك المركزي في 9 مايو 2021 بتعديل بعض شروط مبادراته لدعم القطاع السياحي في ضوء استمرار أزمة فيروس كورونا وتأثيرها على السياحة. ووفقًا لذلك، يقترح الكاتب تعديل شروط مبادرات تمويل الفنادق العائمة وشركات النقل السياحي، وكذلك مبادرة تمويل الرواتب والأجور للموظفين في القطاع السياحي، والتي تشمل الآن تمويل نفقات الصيانة والتجديدات الأساسية. ويؤكد الكاتب أن هذه التعديلات تهدف إلى مساعدة شركات السياحة على تجاوز الأزمة الحالية والحفاظ على استقرارها في المستقبل.

In a letter dated April 22, 2021, the author emphasizes the importance of protecting the rights of bank customers in Egypt, referring to instructions issued on February 19, 2019. These instructions establish a clear framework for fair and transparent banking practices, ensuring equal treatment and confidentiality for all customers. The letter specifically highlights the need to promote gender equality in all banking transactions, including loans and credit facilities, and to provide a swift and free complaint mechanism for customers.

The Bank of Egypt has followed the Financial Institution Directive (FID) issued by the European Banking Authority on 19 February 2019. This directive sets clear guidelines for how banks should handle their employees, ensuring that they can exercise their rights in accordance with principles of fairness, transparency, and data protection. The directive emphasizes treating all employees equally without any form of discrimination based on their social or educational backgrounds. In light of this, the Bank of Egypt has reinforced its commitment to gender equality across all financial operations, such as lending and collateralizing loans. They have also established a swift and free complaint process for employees, ensuring it is transparent, effective, and impartial."

These rules regulate the provision of mobile payment services in Egypt. They cover the following: the purpose of the rules, scope, management of risks, security of information, and the regulatory controls on mobile payment services.

The Central Bank of Egypt (CBE) has signed a Memorandum of Cooperation with the United Nations Office on Drugs and Crime (UNODC) and the World Bank in relation to financial integrity, financial crime prevention, asset recovery, corruption bribery. The agreement is meant for mutual support in the fight against transnational organized crime, including but not limited to illicit drug trafficking, terrorism financing, cybercrime, fraud, corruption, money laundering and tax evasion. This cooperation will enhance Egypt's commitment to international standards of financial integrity and crime prevention. The agreement also includes a clause that CENTRAL BANK OF EGYPT (CBE) doesn't allow any unauthorized activity inside its premises, particularly in the Gomhoreya Street Number 54 downtown Cairo. This indicates that Egypt takes financial integrity seriously, and is committed to upholding global standards of financial transparency. Подробнее: ИЗА ТЕКТА "هذا الوثقات إلى جن الشاركان المحرية القيار والمقابة بمجورية مصر الموتج الثقابة السرية اللغراب الشرية اللغطية هذا تعد الوثقات إلى جن شاركان محرية والمقابة بمجورية مصر. إن هذه الوثقات تعد إلى جن أهمة الجمينة في القارة باله بال أنها 54 الشار ، مصر. ما لا يوز أن يخت من الأر. إذ تعد جمين الكيس ، ولا يوز أنها شاركان محرية. هذه يتوس أن هذه الوثقات تعد إلى جن أهمة الجمينة في القارة باله بال بحو يزن مصر. هذه يتوس أن هذه الوثقات تعد إلى جن الشركان المحرية القيار والمقابة بمجورية مصر. "هذا الوثقات إلى جن الشاركان المحرية القيار والمقابة بمجورية مصر. إن هذه الوثقات تعد إلى جن أهمة الجمينة في القارة باله بال أنها 54 الشار ، مصر. إذ تعد جمين الكيس ، ولا يوز أنها شاركان محرية."

The Central Bank of Egypt has decided to allow municipal bakeries transitioning to natural gas to benefit from the Small Businesses Initiative at a 5% interest rate without a minimum turnover requirement. This decision aims to improve efficiency and develop activities while adhering to environmental and social considerations. The bank has set specific conditions, including obtaining a letter from the Ministry of Supply and Internal Trade and opening an account for repayment.

In line with the Egyptian government's push for energy diversification and environmental considerations, the Central Bank of Egypt has signed a cooperation protocol with the Ministry of Supply and Internal Trade to facilitate bakeries' transition from diesel to natural gas. This initiative falls under the Central Bank's 2016 program to offer low-interest loans to small businesses, with a 5% simple decreasing return rate. The Central Bank of Egypt's Board of Directors has decided to allow municipal bakeries to benefit from this initiative without a minimum turnover requirement, provided they meet specific conditions, including obtaining a letter from the Ministry of Supply and opening an account with the funding bank.

The Central Bank of Egypt's Board of Directors held an extraordinary meeting on March 28, 2021, and decided to extend the exemption from applying the second phase of the Net Foreign Assets (NFA) limit for banks. This decision was made pursuant to a 2016 central bank regulation, which originally set a cap on NFAs for the top 50 banks and their related parties until December 2021. The board also postponed the implementation of individual and sectoral requests under risk limits specified in the second phase of the 2019 regulatory amendments until further notice."

قرر مجلس إدارة البنك المركزي المصري تمديد إعفاء البنوك من تطبيق بند نسب التركيز الائتماني حتى نهاية ديسمبر 2021، وذلك في ضوء الإجراءات الاحترازية التي يتخذها البنك للتخفيف من تداعيات فيروس كورونا. ويهدف هذا القرار إلى دعم البنوك لمواصلة دورها في مساندة القطاعات الاقتصادية المختلفة. وقد تم إبلاغ السيد/ رئيس مجلس الإدارة بالقرار مع التأكيد على الالتزام بالتعليمات المتعلقة بطلبات الائتمان الفردي والقطاعي وفقًا لإرشادات مخاطر الائتمان الصادرة عن بازل.

On March 23, 2021, Central Bank Governor Tarek Amer announced that the exemptions for wheat, legumes, and oilseeds from foreign exchange restrictions on import operations for non-commercial purposes would end on March 15, 2022. This decision was made due to increased domestic supply and market demand. The Egyptian bank has been closely monitoring the situation and will continue to act accordingly based on future requirements.

In a letter dated March 23, 2021, the Governor of the Central Bank of Egypt communicated a decision to extend the period of relaxed import procedures for rice, beans, and lentils for another year, ending on March 15, 2022, to meet the needs of Egyptian citizens. This decision applies to all import operations of all companies, subject to the credit study conducted by each bank. The letter was addressed to the Chairman of the Board of Directors of a bank, requesting that necessary action be taken to implement the mentioned decision.

The letter, dated March 15, 2021, is addressed to the Chairman of the Board of Directors of a bank in Cairo, Egypt. It refers to an initiative to finance the private industrial, agricultural, and contracting sectors, with a total allocation of 100 billion Egyptian pounds through banks at an 8% interest rate. The letter mentions a decision by the Egyptian Prime Minister to reschedule the debt of ceramic and porcelain companies to natural gas companies over 10 years, on the condition that these companies pay an initial installment of 25% of their outstanding natural gas dues. To support this sector, a series of meetings were held with representative companies, and it was agreed that banks would finance the aforementioned down payment.

Cairo, Egypt - On March 15, the Central Bank of Egypt has approved a rescheduling of debts for ceramics and porcelain companies to benefit gas companies over ten years. This was in response to a meeting between the Ministry of Petroleum and Mineral Resources, natural gas companies, and ceramic and porcelain industry associations. The move will allow gas companies to pay off their debts more easily. In February 2021, the Central Bank of Egypt decided to allocate 1.2 billion Egyptian pounds to fund the debt repayment for ceramics and porcelain firms that wish to reschedule their debts owed to natural gas companies. The funding will be made directly available to these firms through participating banks. To qualify, ceramic and porcelain firms must reach an agreement with the Ministry of Petroleum and Mineral Resources, natural gas companies, and pay 50% of the overdue fees owed to natural gas companies by December 31st, 2019. They also need to ensure they can service the loans in future installments."

The bank will limit the amount of cash that a client can deposit into their account. The daily and monthly limits are $30,000 and $100,000 respectively. In addition, the bank will monitor accounts to detect suspicious activity, including unusual large transactions or deposits. If a client's cash deposit exceeds these limits, the bank may change their account classification to one associated with high-risk money laundering or "maintaining existing accounts with updated information.

The Central Bank of Egypt has issued guidelines to promote financial inclusion and facilitate citizens' transactions with banks. These guidelines include regulations for financial inclusion products and services, as well as due diligence procedures for customers. Banks have begun taking serious steps towards financial inclusion, reflected in the growth and diversification of their customer base. However, there are still significant untapped opportunities to increase financial inclusion rates and bring more citizens and economic activities into the banking sector. The Central Bank has identified obstacles that hinder citizens from opening bank accounts, including excessive documentation requirements and strict customer identification procedures. To address these issues, the Central Bank and the Money Laundering Combating Unit have agreed to issue a memorandum outlining measures to simplify the rules and procedures for financial inclusion.

The Central Bank of Egypt has approved a set of regulations regarding the use of alternative scoring models to assess creditworthiness. The rules are as follows: 1. These guidelines apply exclusively to small and micro enterprises. 2. Lending must be in local authorities would you this is important because it keeps up8

In a letter dated February 22, 2021, the Central Bank of Egypt instructed banks to increase their lending to small and medium-sized enterprises (SMEs) and microfinance institutions to 25% of their credit facilities by December 31, 2022. This is an increase from the previous target of 20%. Banks that fail to meet this target will be required to deposit the difference at the Central Bank without earning any interest.

The Central Bank of Egypt (CBE) has recently proposed some guidelines for the establishment of retail deposit-taking microfinance institutions (MDIs). These guidelines aim to regulate and control the activities of these MDIs, ensuring their stability, while promoting financial inclusion. The new guidelines propose that a bank wishing to establish an MDI should not hold more than 10% of its total capital in the form of investments in any single MFI or finance company. This amount should also not exceed 50% of the aggregate of the capital of these entities combined. Additionally, the MFI activities must be included within the bank's overall risk-weighted assets. To ensure that a bank's investment does not jeopardize its core capital ratios or ICAAP requirements, it should maintain an internal minimum capital adequacy ratio that is higher than the specified minimum. The MDI establishment process must also receive authorization from the Financial Regulatory Authority (FRA) and be subject to their supervision. The guidelines also stipulate a four-year exit clause for banks establishing MDIs, allowing them to withdraw from these activities within this time frame if they fail to generate profits for three consecutive years. Finally, the proposed guidelines aim to amend some instructions issued on May 2019 regarding the weighting factor with no reference made before this date. The proposed changes should take effect from their given date and remain in force for all subsequent instructions.

طارق عامر، محافظ البنك المركزي المصري، يخاطب رئيس مجلس الإدارة في أحد البنوك بشأن مبادرات البنك المركزي للشركات متناهية الصغر والصغيرة والمتوسطة. وافق مجلس إدارة البنك المركزي على تعديل المبادرة للسماح للبنوك بتمويل هذه الشركات دون الحاجة إلى قوائم مالية معتمدة، مع توفير بدائل لتقييم المخاطر، بما في ذلك استخدام البيانات البديلة ونماذج التقييم الرقمي. وقرر مجلس إدارة البنك المركزي إصدار ضوابط لاستخدام البيانات البديلة، والتي تشمل الالتزام بحد أقصى لحجم الأعمال، وتقييد التمويل بالعملة المحلية، ووضع سياسات وإجراءات خاصة بنماذج التقييم الرقمي، وإخطار البنك المركزي عند استخدامها.

In an effort to encourage banks to increase their investments in small and medium-sized enterprises, the Central Bank of Egypt's Board of Directors approved, on February 21, 2021, the inclusion of banks' contributions to the capital of investment funds targeting small and medium-sized enterprises within the 25% quota of the bank's credit facilities directed towards these enterprises. This decision is subject to certain conditions, including obtaining the necessary license from the Financial Regulatory Authority and reporting the value of the bank's share in the funds to the Supervision and Control Sector on a quarterly basis.

The Central Bank of Egypt has issued a decree amending the requirements for banks' lending portfolios to small and medium-sized enterprises (SMEs). The decree increases the required percentage of loans to SMEs from 20% to 25% of total credit facilities, with a focus on micro, small, and medium-sized companies. It also allows for the exclusion of certain types of loans from this calculation and provides guidelines for banks to develop alternative methods for assessing creditworthiness, including the use of digital assessment models.

The Central Bank of Egypt (CBE) has approved a new financing program for hotels that are under reconstruction or awaiting licensing. This program, named "Tamkeen," will provide financing up to 70% of the investment cost, with an additional 10% for upgrading facilities. The remaining 20% must be secured by the investor through other means such as equity. The financing facility's repayment period is up to 15 years, which includes a grace period of 4 years without interest. The program aims to encourage and support investors in completing their projects and reviving the tourism sector in Egypt. It also helps in enhancing the infrastructure of hotels and improving the overall quality of services provided to tourists. This initiative is expected to create job opportunities, contribute to Egypt's economic growth, and enhance the country's reputation as a global tourist destination.

In a letter dated February 17, 2021, the Chairman of the Cairo Board of Directors addresses the Central Bank's initiative from January 8, 2020, which allocated 50 billion Egyptian pounds through banks at an 8% decreasing return rate to finance the renewal and replacement of hotels, floating hotels, and tourist transport fleets. A portion of this amount, 3 billion Egyptian pounds, was guaranteed by the Ministry of Finance to cover 100% of the loans granted to tourism companies. Due to the ongoing impact of the COVID-19 crisis on the tourism sector, the Central Bank of Egypt decided to issue a guarantee of 2 billion Egyptian pounds in tranches, starting with the first tranche of 1 billion Egyptian pounds, to the Credit Risk Guarantee Company.

The Central Bank of Egypt has decided to modify some conditions of its tourism financing initiative to stimulate the sector and provide greater benefit amid the COVID-19 crisis. The modifications include adjustments to the maximum funding amount, the duration of the facility, and the eligibility criteria for companies to benefit from the initiative. These changes aim to support the tourism industry and its employees during these challenging times.

In a letter dated February 15, 2021, the Central Bank of Egypt's Board of Directors decided to amend the decision regarding the regulations and controls of bank financing for real estate development companies constructing residential units for sale. The amendments include allowing financing for real estate projects based on partnerships between real estate development companies and governmental and/or private entities, provided that all parties involved have good creditworthiness, reputation, and financial solvency. The letter also emphasizes the requirement for banks to ensure that the funding is used for the intended purpose and not for real estate speculation or hoarding.

In a letter dated February 15, 2021, the Central Bank of Egypt announces modifications to the terms of a tourism sector financing initiative launched in June 2020. The changes, agreed upon with the Ministry of Finance, aim to further support the tourism industry and its employees amid the ongoing COVID-19 crisis. Key amendments include an increased funding cap for clients, an extended grace period until the end of 2021, and the ability for companies to benefit from a hotel and transport fleet renovation initiative.

The Central Bank's Board of Directors has decided to amend the decision regarding the funding controls and regulations for real estate development companies constructing residential units for sale. The amendments include changes to the first and third articles of the decision, emphasizing the need for a detailed timeline for construction completion and allowing funding for joint projects between real estate developers and government or private entities. Additionally, a new clause has been added, permitting banks to finance land installments for their clients who have obtained existing credit facilities from real estate development companies.

The letter emphasizes the Egyptian government's focus on youth and the Central Bank's efforts to integrate them into the banking sector. It clarifies the legal position on opening bank accounts for youth aged 16 to 21 without requiring parental consent, citing civil law and guardianship regulations. The bank is encouraged to create tailored products and services for this demographic to boost financial inclusion.

In light of the Egyptian government's focus on giving special attention to youth, the Central Bank has been keen to integrate youth into the banking sector and attract a larger segment of this category to benefit from financial and banking services. Many meetings have been held to discuss the current situation in the Egyptian banking market regarding the legal position of opening bank accounts for youth between the ages of 16 and 18 without the need for parental consent. After studying the matter, it was found that there is no legal impediment to opening bank accounts for this age group, provided that the banking products offered to them are in line with the provisions of the Civil Code and the Law of Guardianship over Money.

In this letter dated January 24, 2021, addressed to the Chairman of the Board of Directors of a bank in Cairo, the writer refers to a previous circular issued on January 6, 2021, regarding instructions for activating Egyptian pound transfer services. The writer emphasizes that the verification of beneficiary account details, including the International Bank Account Number (IBAN), should be conducted according to the bank's usual verification procedures and internal regulations. The letter requests the recipient's attention and appropriate action regarding the matter.

جمال نجم writes to confirm the procedures for verifying beneficiary account information for Egyptian pound transfers. He emphasizes that the verification process should follow standard bank practices and internal procedures.

On January 13, 2021, an address by Dr. Taqi Al-Amri, the President of the Central Bank of Egypt, discussed the challenges faced by banks in implementing the Central Bank's tourism sector initiatives. He highlighted that while there were ongoing initiatives from the central bank to provide support for the tourism sector, many employees in this field are unaware of these programs due to a lack of proper communication and details about them within their respective branches. He emphasized the following three key points: 1. Communicate clearly with all employees about the guidelines of the initiatives through your bank's internal channels. 2. Collaborate with the regulatory authorities of the Central Bank as soon as they release new guidelines or updates. 3. All bank branches should provide a customer service hotline for their employees, ensuring that they are well-informed and aware of all details related to these initiatives. Furthermore, report any refusals in granting credit facilities under these programs and explain the reasons behind these decisions. He urged banks to fully comply with these suggestions and thanked everyone for their cooperation.

In a letter dated January 13, 2021, the Governor of the Central Bank of Egypt, Tarek Amer, addresses the Chairman of the Board of Directors of a bank in Cairo. The letter refers to recent tourism sector initiatives launched by the Central Bank and notes that the uptake of allocated funds has been low due to a lack of awareness among customers about the details and conditions of the initiatives. To address this, the Governor instructs the bank to notify all its tourism sector clients in writing about the terms and conditions of the initiatives and to provide a copy of these notifications to the Central Bank's Office Control Sector. The Governor also requests that the bank ensure that its hotlines can answer customer inquiries about the initiatives and that staff are well-informed about the terms and conditions.

On January 11, 2021, the Central Bank of Egypt decided not to allow banks to distribute cash dividends from 2020 profits or retained earnings to shareholders. This decision was made to support the banks' capital base and safeguard against potential risks due to the ongoing COVID-19 crisis. However, banks are permitted to distribute bonuses to employees and pay out board of directors' compensation for the same year.

In a letter dated January 11, 2021, the Central Bank of Egypt decided not to allow banks to distribute cash dividends from their profits or retained earnings to shareholders for the year 2020. This decision was made to support the banks' capital base and safeguard against potential risks arising from the ongoing COVID-19 pandemic. However, banks are permitted to distribute bonuses to employees and pay out board of directors' compensation for the same year.

The letter, dated January 6, 2021, is addressed to the Chairman of the Board of Directors of a bank in Cairo, Egypt. It refers to a previous circular dated June 21, 2020, emphasizing the need to enhance banks' infrastructure and remittance departments to facilitate same-day remittance requests for customers. The aim is to gain customers' trust and encourage them to reduce their use of cash. The letter outlines decisions made by the Central Bank of Egypt's board of directors on December 27, 2020, regarding remittance services in Egyptian pounds, including timeframes for executing transfers within the same bank and to other banks. It also mentions exemptions from these timeframes, such as transactions requiring credit approvals or those suspected of money laundering or terrorist financing.

The letter, dated January 6, 2021, from the Governor of the Central Bank of Egypt to the Chairman of the Board of Directors of a bank, outlines decisions made by the Central Bank's Board regarding improving the infrastructure and transfer systems of banks to enhance customer confidence and encourage the reduction of cash transactions. It emphasizes the importance of same-day execution of customer transfer requests and outlines specific time frames for executing transfers within the same bank and to other banks. The letter also mentions measures to enhance financial inclusion, improve payment systems, and reduce transaction costs for electronic payments.

The Central Bank of Egypt has issued instructions for the management of operational risk, which are mandatory for all banks operating in Egypt. The instructions include definitions, qualitative and quantitative requirements, and a standard approach for measuring operational risk. Banks are required to establish an independent unit for managing operational risk and to implement policies and procedures for identifying, measuring, monitoring, and mitigating such risks. The instructions also outline disclosure requirements and outline the calculation of capital requirements to cover operational risk.

The concise summary of the information in this document is as follows: According to the "Offers and Tenders Publications" issued by the General Authority for Civil Aviation, there are currently 38 active offers that exceed one million Saudi Riyals ($267,000). The offers are categorized into various sections, including building, maintenance, operation, etc. It is also stated that these projects could help create hundreds of job opportunities and contribute to the overall economic growth of the nation.

The Central Bank of Egypt is supporting the state's efforts to achieve sustainable development goals, including environmental and social considerations. In line with the state's push to replace fuel-powered vehicles with dual-fuel ones, the Bank has launched an initiative to provide 15 billion EGP in loans at a fixed interest rate of 3% for individuals wishing to switch to dual-fuel vehicles. The loan repayment period ranges from 7 to 10 years, with monthly installments.

The Chairman of the Central Bank of Egypt, Tarek Amer, announced a new initiative targeting private sector employees aged over 50 with outstanding loans less than 10 million Egyptian pounds. In addition, initiatives have been launched for tourism workers who are also over 50 and owe less than 10 million Egyptian pounds to banks. The measures will give individuals up to six additional months of employment. This move follows the continuing impact of the COVID-19 pandemic and aims to achieve the goals of previously launched programs by extending support to a larger number of affected individuals.

The Central Bank of Egypt is supporting the country's efforts to achieve sustainable development goals, including environmental and social considerations. In line with the state's push to replace fuel-powered vehicles with dual-fuel ones, the Bank has launched an initiative to provide 15 billion Egyptian pounds in loans to individuals wishing to switch to dual-fuel vehicles, with an interest rate of 3%. The loan repayment period is between 7 and 10 years, with equal monthly installments.

The letter refers to the Central Bank's initiative for distressed corporate customers with debts of less than 10 million Egyptian pounds, which allows for the removal of customers from blacklists, the dropping of legal cases, and the release of debt collateral upon agreement on repayment terms. A similar initiative is mentioned for corporate customers in the tourism sector with irregular debts of 10 million Egyptian pounds or more, requiring a 50% debt repayment for the same benefits. Due to the ongoing impact of the COVID-19 crisis, the Central Bank's Board of Directors has approved an extension of these initiatives for an additional 6 months, ending on June 30, 2021, to ensure that a larger number of distressed customers can benefit from them.

The Central Bank of Egypt announced on December 30, 2020, that it has decided to temporarily pause the guarantee coverage provided by Credit Guarantee Insurance Companies (CGICs) for individual bank clients. This follows an increase in loan volumes due to the COVID-19 pandemic and its aftermath. The Central Bank will instead allocate a portion of its reserves to provide temporary cover for CGICs, which would then pause their coverage on individual loans. The central bank's board has approved this decision taken as part of handling the credit guarantee insurance provided by Credit Guarantee Insurance Companies for individual clients and related parties.

In a letter dated December 30, 2020, the Chairman of the Central Bank of Egypt, Tarek Amer, addresses the management of a bank regarding the calculation of the maximum limit for the bank's employment with a single client and its related parties. The letter refers to previous circulars and instructions on this matter, including those issued on September 23, 1996, March 5, 2006, January 11, 2016, and October 13, 2019. The Central Bank of Egypt's Board of Directors, in its meeting on December 13, 2020, decided to exclude the portion of credit facilities guaranteed by the Credit Risk Guarantee Company when calculating the maximum limit for the bank's employment with a single client or its related parties. The excluded guarantee balances are to be added to the bank's employment with the Credit Risk Guarantee Company, excluding those covered by the commitments of the Central Bank of Egypt.

In a letter dated December 28, 2020, the Governor of the Central Bank of Egypt, Tarek Amer, instructed banks to waive fees and commissions on various banking services from January 1 to June 30, 2021. This included waiving fees on bank transfers, mobile payment services, card issuance, and ATM transactions. The letter also directed banks to cancel fees and commissions on transactions using contactless payment tools issued by Egyptian banks.

In light of recent developments in Egypt and the Central Bank's policies, banks are now exempt from all fees or charges on electronic banking transactions, including debit and credit card payments. This includes all domestic banking transactions and foreign currency transactions. Additionally, banks must cancel all fees for mobile wallet transfers within Egypt. Furthermore, all debit and credit card issuers have been instructed to cease imposing any additional fees or charges on the use of their cards in the future. This applies across all banks, with no additional fee required by the receiving bank. This move follows the Central Bank's earlier decision to eliminate fees for cash withdrawal transactions during a specified period, which was accepted with high enthusiasm. Finally, regarding contactless payments for debit and credit cards, the bank issuing these cards will cover any associated fees or charges, including those related to electronic payment interchanges. This applies for all banks within Egypt until further notice. The Central Bank appreciates the community's support in this matter.

The Central Bank of Egypt (CBE) announced updates to the terms of two previously approved facilities. The first facility, a $2 billion loan with a maturity of six months, has been extended by three months till March 31, 2022. The second facility is an EGP 56 billion ($3.4 billion) loan available at an 8% interest rate, which has now been extended until June 2022 instead of the previously announced December 2021 deadline. Additionally, the Central Bank decided to reduce the interest rate on the second facility from EGP 7 (around $0.44) per day, or 560% annually, to EGP 51 ($3.12), effectively decreasing annual interest rates from around 3,865% to 2,940%.

In a letter dated December 6, 2022, the Central Bank of Egypt announced an extension of its tourism sector support initiative and the consumer loans initiative for tourism workers until the end of December 2021 and December 2020, respectively. The extensions were granted in light of the ongoing coronavirus crisis and its impact on the tourism industry. The decision was made during the Central Bank's board meeting on November 30, 2020.

The Central Bank of Egypt has extended its tourism sector support initiative and the consumer loans initiative for tourism workers until the end of December 2021 and December 2020, respectively. The extensions come in response to the ongoing impact of the COVID-19 crisis on the tourism industry and include provisions for loan deferrals and interest rate subsidies.

In response to the ongoing impact of the COVID-19 pandemic on the tourism sector, the Central Bank of Egypt has approved several measures to support the industry and its employees. These include extending the grace period for repayment of loans under the hotel renovation initiative until December 13, 2023, with interest capitalization during this period, and increasing the monthly salary limit for workers in the tourism sector to EGP 25,000 under the initiative guaranteeing salary payments by the Ministry of Finance.

In a letter dated November 23, 2020, the Central Bank of Egypt decided to extend the exceptions to the governance instructions for banks, allowing them to continue holding board meetings via video or phone conferences without requiring physical presence, and waiving the condition of having a majority of board members present, until the end of December 2021. This decision was made to support banks during the challenging times of the COVID-19 pandemic.

On November 23, 2020, the Central Bank of Egypt announced that based on bank regulatory authorities' instructions issued in August 2011 and amended periodically, board members will not be required to attend meetings in person until end of this year. The Central Bank's Board of Directors meeting held on November 8, 2020 also decided to extend the exceptions regarding attendance for the following reasons: - Exemption from mandatory physical presence at board meetings through December 2021. - No minimum requirement for physical attendance by board members. The aforementioned measures will remain in effect as long as the current bank regulatory authorities' instructions are in place.

Banks must submit monthly financial statements and analysis tables of assets, liabilities, business sectors, and economic activity sectors to the Central Bank of Egypt within eight days of the end of the reporting month. The data must be audited by the bank's financial department to match the bank's records. Banks must also provide the names and contact information of their financial managers to the Supervision and Control Sector for reference. The financial statements should be submitted on time and without subsequent modifications; non-compliance may result in penalties outlined in the Central Bank and Banking System Law No. 88 of 2003 and the June 2009 decision by the Central Bank's Board of Directors regarding amended financial penalties for banks violating credit registration regulations.

In a letter dated November 2, 2020, the Central Bank of Egypt's Vice Governor, Gamal Negm, addresses the Chairman of the Board of Directors of a bank regarding amendments to an initiative providing financial support to the tourism sector amid the COVID-19 crisis. The letter announces modifications to the initiative, including an extension of salary payments for tourism sector employees from three to six months and a change in the allocation of loans, with at least 40% now dedicated to salary payments and the remaining amount for maintenance and operating expenses. Negm also emphasizes the continuation of another initiative from March 2020, allowing banks to provide credit facilities for salary payments and existing obligations to suppliers and maintenance services for tourism activities.

In a statement on May 15, 2021, the Egyptian Minister of Tourism and Antiquities, Dr. Khaled El-Enany announced new amendments to the previous initiative introduced on March 23, 2020, to support tourism businesses by providing banks with guarantees to pay their employees' salaries, suppliers, and maintenance costs. The new measures are as follows: 1. **Extending the guarantee period from two years to three years with a maximum of six months for repayment**. 2. **Increasing the percentage of allocated loans from 85% to cover employee salaries, suppliers, and maintenance costs to 90%**, not exceeding five and a half million Egyptian pounds per employee within two quarters. 3. The remaining 10% of the guaranteed loan will be used for covering maintenance, operation, and service expenses. These changes aim to support tourism businesses more effectively by increasing liquidity and financial stability during these difficult times.

In a letter dated October 25, 2020, the Chairman of the Board of a bank in Cairo, Egypt, is reminded of the importance of keeping the Board informed of all instructions, guidelines, and correspondence issued by the Central Bank. This is to ensure that the Board can fulfill its duties effectively and maintain the financial health of the bank. The letter emphasizes that compliance with these instructions will be monitored and reviewed by the Central Bank.

The letter is addressed to a bank's board of directors and discusses the importance of transparency and compliance with central bank regulations. It highlights the necessity for the board members to be informed on time about any important issues that may arise, ensuring they can effectively perform their duties and maintain open dialogue with the regulatory authority. This promotes financial stability within the institution and is expected to continue being followed and reviewed by the central bank. The writer requests complete adherence to these guidelines and appreciates the respect and cooperation of all parties involved.

The letter discusses the Central Bank of Egypt's efforts to enhance financial inclusion and increase its rates by consulting with the Anti-Money Laundering and Terrorist Financing Unit to provide more support and facilitation for citizens and companies targeted to be included in the banking system. The letter also mentions amendments to the rules and regulations regarding financial inclusion products and services, including account opening procedures and transaction limits for individuals, companies, and micro-enterprises.

The letter outlines recent amendments to the due diligence procedures for financial inclusion products and services in Egypt, which aim to enhance financial inclusion and facilitate access to banking services for individuals and small businesses. The changes include removing the requirement for bank approval when opening traditional accounts for new customers, easing account opening for micro-enterprises and self-employed individuals without a commercial register, and increasing daily and monthly transaction limits for individuals and micro-enterprises. The Central Bank of Egypt has approved these amendments to maximize the benefits of the issued regulations and facilitate banks' reach to the targeted segments.

The document outlines the rules and regulations for the Egyptian Central Bank's interest rate framework, known as the "System Corridor." The Central Bank sets a floating interest rate for banks, with an upper and lower limit, to maintain monetary stability. Banks are required to inform the Central Bank of their interbank lending rates, and the Central Bank has the authority to add or subtract from the interbank lending rates. The document also mentions the calculation of interest rates, the amount of currency, and the process of executing transactions.

The chapter outlines the rules governing repurchase agreements (repos) in Egypt. It specifies the announcement and results of the operation, the participating banks, the collateral, and the role of the Central Bank of Egypt. The chapter also details the SWIFT message format for repos, including the message type, address, and delivery notification.

The chapter discusses the concepts of asset and liability modeling for different business sectors. It covers the economic activity summary of a financial position, including loans and credit facilities extended to customers, financial securities and investments owned by the bank, discounted commercial papers, and deposits. The section on deposits specifies that it does not include amounts owed to banks, including the Central Bank of Egypt, but does include obligations to customers for open credits in foreign currencies. The chapter also covers amounts owed to and by banks, including the Egyptian Central Bank and local and foreign banks, in both local currency and foreign currencies.

The chapter discusses the concepts of sectors included in asset distribution models, categorizing obligations and liabilities by business sectors. It defines the public business sector, private business sector, public service sector, family sector, and external world sector (excluding banks).

The letter, dated September 21, 2020, is addressed to the Chairman of the Board of Directors of a bank in Cairo, Egypt. It refers to instructions from the Central Bank of Egypt regarding the implementation of the International Financial Reporting Standard 9 (IFRS 9), which includes the requirement for banks to validate the soundness and effectiveness of models used in calculating expected credit losses (ECL). The Central Bank emphasizes the importance of assessing the quality of assets and accurately calculating ECL during crises.

In a letter dated September 21, 2020, the Central Bank of Egypt instructed banks to review the models used to calculate expected credit losses (ECL) and identify factors that were not considered in the design of these models. The review aimed to assess the soundness of the methodology used for ECL calculation and the quality, adequacy, and efficiency of information systems and data used in model development. Banks were required to submit a report to the Central Bank within a month, detailing the results of the model review and any modifications made, along with their impact on the bank's credit portfolio after calculating ECL based on the review findings.

Banks in Egypt will continue to provide digital banking services for individual and corporate clients, free of charge until the end of 2021. This includes all banking transactions, money transfers, credit facilities, debit cards, and e-payments. Moreover, the Central Bank of Egypt has decided that banks must stop collecting fees or commissions related to foreign exchange operations between various currencies in foreign currency accounts. Additionally, for card payments, customers will be exempt from paying any fees or commissions starting from October 1st until the end of this year. Finally, all banks must continue adopting measures stipulated in the Central Bank's Circular Letter No. **20-373** dated March 5th, 2020, with some changes regarding their online banking services.

In a letter dated September 15, 2020, the Governor of the Central Bank of Egypt, Tarek Amer, instructed banks to waive fees and charges on various banking services until December 31, 2020, including electronic transfers, mobile payment services, and ATM transactions. This move aims to encourage the use of electronic payment methods and reduce the reliance on cash. The letter also emphasizes the continuation of exemptions for online banking services for existing customers, provided they comply with the bank's subscription procedures.

The Central Bank of Egypt (CBE) has published a comprehensive plan to support all sectors affected by the spread of the novel coronavirus, which includes financial and monetary measures that aim to help the real economy recover from the economic shock caused by the pandemic. The plan covers several key aspects, including: 1. Maintaining the stability of the Egyptian pound against foreign currencies by providing liquidity support through various tools such as repurchase agreements, lending in local and foreign currencies, and facilitating transactions between banks and their overseas correspondent banks. 2. Supporting all sectors by easing credit conditions for individuals and businesses and implementing a unified methodology for assessing the ability of borrowers to pay back loans without imposing additional burdens on them or affecting their business activities. 3. Encouraging commercial banks to adjust their debt restructuring methods according to the current economic situation, as well as considering rescheduling interest payments and not including any financial charges that could have a negative impact on borrowers. 4. Ensuring compliance with the guidelines issued by the Egyptian Central Bank, particularly those related to assessing the creditworthiness of debtors, as well as setting up provisions for dealing with possible losses without causing financial hardship for clients. 5. Requiring banks to analyze and assess the overall risks associated with the current economic situation and conduct stress tests to determine the impact of these challenges on their assets and various sectors. This concise summary aims to provide a clear understanding of the Egyptian Central Bank's comprehensive plan, which involves both financial and monetary measures to support all sectors affected by the spread of the novel coronavirus while ensuring stability in the country's economy.

In light of the recent economic crisis and the Egyptian Central Bank's efforts to stabilize the banking sector, banks are instructed to support customers affected by the crisis by reviewing credit facilities and restructuring customer debts. This includes extending credit periods, waiving penalties, and capitalizing interest values without putting pressure on companies' liquidity. Banks are also advised to assess overall risks and conduct stress tests to prepare for potential losses.

In a letter dated August 19, 2020, the Governor of the Central Bank of Egypt, Tarek Amer, addresses the Chairman of the Board of Directors of a bank regarding a real estate financing initiative for middle-income individuals. The letter notes that the initiative has not been as effective as expected, and one of the identified obstacles is the ambiguity surrounding the maximum unit area eligible for the initiative. The Central Bank's Board of Directors has decided to clarify that the maximum eligible net unit area is 150 square meters, which can be verified by the bank through a real estate appraisal report or the unit contract.

The letter, dated August 19, 2020, is addressed to the Chairman of the Board of Directors of a bank in Cairo, Egypt. It refers to a central bank initiative issued in December 2019 for real estate financing for middle-income earners at a decreasing return rate of 8% for a maximum period of 20 years. The letter states that, due to a lack of clarity regarding the eligibility criteria for unit size, the initiative has not been utilized as expected. To address this issue, the maximum eligible net unit size has been clarified as 150 square meters, with banks verifying the net area through a real estate appraisal report or unit contract.

In a letter dated August 6, 2020, the Governor of the Central Bank of Egypt addressed the Chairman of the Board of Directors of a bank, referring to previous legislation that allowed banks to own up to 40% of the shares of financial companies and permitted ownership beyond that limit in financial holding companies. The Central Bank's Board of Directors decided to allow banks to own an unlimited number of shares in payment service providers and payment operators, classifying them as financial companies. The letter also emphasized the requirement for banks to obtain the Central Bank's approval before increasing their ownership in any financial company or bank beyond 5%.

In August 2020, the Central Bank of Egypt allowed banks to own shares in payment services companies and electronic money issuers without any maximum limit. This means that they will be under the control of the financial regulatory authorities (Regulation [3]). This action was previously taken by the Central Bank in July 2004 when it allowed the bank to invest up to 5% of its capital in payment services companies or electronic money issuers, without specifying a minimum limit. In 2014, Egypt's Central Bank issued a new regulation allowing banks to invest in any financial company or institution without any maximum limit, provided that they are under the supervision of the financial regulatory authorities (Regulation [3]).

The letter, dated June 13, 2020, addresses the precautionary measures to be taken in response to the effects of the coronavirus pandemic. It references previous communications, including a circular issued on March 11, 2020, and subsequent clarifications and amendments, and emphasizes the importance of providing written responses to queries from banks, which will be published on the Central Bank's website. The letter also includes a comprehensive list of frequently asked questions and their corresponding answers, aiming to standardize the implementation of the directives across the banking sector.

The letter is addressed to Mr. Renis, a member of the Board of Directors, and discusses the precautionary measures that need to be taken to address the impact of the Coronavirus, as well as the postponement of client obligations without applying additional fees or penalties for late payments. It also mentions that any inquiries from banks should be submitted in writing to the Central Bank's website. The letter provides answers to various inquiries received from banks regarding the practical application of the aforementioned instructions, in order to unify the implementation process across the banking sector.

The letter, dated June 29, 2020, announces amendments to a financial initiative for Egypt's tourism sector, offering loan facilities to cover three months of employee wages and basic maintenance and operation expenses, guaranteed by the Ministry of Finance. Changes include extending the loan period to three years, with a one-year grace period, and removing a requirement to prove no reduction in workforce or wages since December 2019.

In a letter dated June 29, 2020, the Chairman of the Board of Directors of a bank in Cairo, Egypt, addresses the recent circular regarding a financing initiative for the tourism sector. The letter announces amendments to the initiative's terms to provide flexibility and ease procedures amid challenging circumstances. These changes include extending the salary payment period, adjusting the repayment duration, and removing a requirement for companies to maintain their workforce and wage levels since December 2019.

In response to the economic impact of the COVID-19 pandemic, the Credit Guarantee Company of Egypt has expanded its scope to include guarantees for large companies in addition to its existing coverage for micro, small, and medium-sized enterprises. The Central Bank of Egypt has issued a guarantee of 7 billion Egyptian pounds to the Credit Guarantee Company to partially cover the risks associated with financing large companies. This initiative aims to support the private industrial, agricultural, and construction sectors by providing financing at an annual interest rate of 8%.

The Central Bank of Egypt has launched a $7bn guarantee scheme to support small and medium-sized businesses. This initiative will be covered by Egypt's state-owned Credit Guarantee Company, which will issue guarantees for banks lending to small and medium enterprises (SMEs). The Central Bank's initiative is part of its commitment to support private sector companies as they face challenges related to the pandemic. It aims to boost confidence in lending to SMEs by providing a safety net for banks lending to them, helping them maintain their liquidity levels and continue operating amid market uncertainties caused by the crisis. According to the Central Bank's executive director, Tarek Amer, the move is also designed to address concerns from foreign investors who may be reluctant to invest in Egyptian SMEs due to potential credit risk. The initiative will cover a portion of the bank loans provided to SMEs and help maintain the financial stability of Egypt's economy by ensuring that viable businesses continue to receive funding, despite the economic downturn caused by the pandemic.

The letter, dated June 24, 2020, is addressed to the Chairman of the Board of Directors of a bank in Cairo, Egypt, and outlines amendments to the rules governing the credit registration system at the Central Bank of Egypt regarding non-compliant customers. The changes include reducing the disclosure period for historical customer information after repayment and lifting restrictions on dealing with certain categories of customers. The Central Bank of Egypt instructs banks to communicate these changes to affected customers and provide updates on their current status regarding the deletion of historical information and the lifting of conditional bans.

In a letter dated June 24, 2020, the Central Bank of Egypt informed the Chairman of the Board of Directors of a bank in Cairo about amendments to the rules governing the credit registration system. These changes included the removal of blacklists for institutional clients and negative lists for consumers with loans for personal use, reduced disclosure periods for historical client information after repayment, the lifting of restrictions on dealing with certain client categories, and the deletion of clients with minor debts below EGP 1,000 as a one-time exception. The Central Bank instructed banks to communicate these changes to affected clients, informing them of reduced disclosure periods, and updating them on the removal of historical information and the lifting of conditional bans.

In a letter dated June 21, 2020, the Governor of the Central Bank of Egypt, Tarek Amer, addresses the Chairman of the Board of Directors of a bank, informing him of the extension of the waiver of fees and charges on local transfers in Egyptian pounds until September 15, 2020, as a continued precautionary measure against the spread of COVID-19. He also notes the observed delays in executing local transfers, urging the bank to enhance its infrastructure and remittance departments to ensure same-day execution of client requests and promote confidence in the banking system.

In light of the ongoing COVID-19 pandemic and the associated health risks of handling cash, the Central Bank of Egypt has decided to extend the waiver of all fees and charges on local transfers in Egyptian pounds until September 15, 2020. Additionally, the bank has observed delays in processing local transfers, and encourages banks to improve their infrastructure and remittance departments to ensure same-day processing of customer requests.

In the letter addressed to the Egyptian Financial Supervisory Authority (EFSA), the National Bank of Egypt clarified that it does not impose any restrictions on the movement of liquidity or foreign currency in and out of the country, according to what was published in its annual financial statements. The bank also stated that the foreign assets and the liquidity it holds are fully available to meet its commitments, stressing that it is committed to maintaining its international reserves at a level consistent with the recommendations of the International Monetary Fund (IMF). In addition, the National Bank of Egypt stated that it will continue to disclose information on the details of foreign exchange reserves, including the names of beneficiaries, amounts paid to them and payment dates, as well as details of the beneficiaries and the amount of the discount. Moreover, the bank clarified its commitment to continue disclosing the financial statements of Egypt Mortgage Finance Company (EMFC) on a monthly basis, including additional information that EMFC requires through a single bank. The letter also emphasized the importance of transparency in financial dealings and stressed that all activities of the Central Bank are carried out within the framework of Egyptian law, and any discrepancies or irregularities will be subject to legal action. The letter also addressed the issue of the 5th point in the annual report published on January 3, 2018, which pertained to a method of calculating the required minimum capital ratio, where a zero-risk weight is assigned to fully guaranteed deposits by the Central Bank of Egypt. The letter also clarified that for the purpose of determining the required minimum capital ratio, a zero-risk weight is applied to fully guaranteed deposits made by the Central Bank of Egypt. Furthermore, the letter referred to the 5th point in the annual report published on January 3, 2018, regarding the assessment of the bank's capital adequacy ratio and the establishment of provisions as per the approval of the Central Bank of Egypt's board of directors on May 24, 2005. The letter emphasized that the provisions established by EMFC should be deducted from the guaranteed deposit funds allocated to customers. This is in accordance with the aforementioned terms. Finally, the bank requested that its stakeholders take note of these measures as of their respective dates and reminded them that it will use the available liquidity within the framework of the established plan starting from March 20, 2020. The letter concluded by expressing the bank's commitment to maintaining transparency in its financial dealings and stressed that any restrictions or limitations imposed by it will be done according to applicable laws.

في ضوء أزمة فيروس كورونا وتأثيرها على قطاع السياحة، وافق مجلس إدارة البنك المركزي المصري على إصدار ضمانة بقيمة 3 مليارات جنيه لدعم القطاع السياحي والعاملين به. وتهدف هذه الضمانة إلى تمويل إحلال وتجديد فنادق الإقامة والفنادق العائمة وأسطول النقل السياحي، بالإضافة إلى سداد رواتب العاملين في القطاع السياحي لمدة ثلاثة أشهر بدءًا من مايو 2020. كما تشمل أيضًا تمويل مصروفات الصيانة والتشغيل الأساسية، مع فترة سداد مدتها عامان.

In a letter dated June 18, 2020, the Governor of the Central Bank of Egypt, Tarek Amer, announces adjustments to the bank's initiatives to encourage lending to small and medium-sized enterprises at reduced interest rates. The adjustments include expanding the eligibility criteria for companies in the industrial, agricultural, and construction sectors to benefit from a 100 billion Egyptian pound funding at an 8% decreasing annual interest rate. These changes aim to support newly established companies and those with high financial solvency that are classified as medium or small enterprises based on their paid-up capital or financial statements.

The Central Bank of Egypt has allowed companies operating in the private sectors of industry, agriculture, and services, with an annual turnover/revenue of up to 50 million Egyptian pounds, to use its low-cost funding program. This initiative was approved during a board meeting on June 14, 2020, that also amended the previous program launched in December 2019. The new scheme will offer companies an interest rate of 8% annually, payable over one year. Businesses classified as 'small' or 'medium-sized enterprises' are eligible for this funding, depending on their financial statements and balance sheets.

Dear Professor/Board Chairman of Cairo Administration on June 27, 2020, I would like to extend my warm greetings. Sincerely, Taher Qamir

In a letter dated May 27, 2020, the Chairman of the Board of Directors of a Cairo-based bank, Mr. Tarek Amer, addresses a recipient with a respectful greeting.

The Central Bank of Egypt is launching an initiative to promote electronic payment methods and reduce the use of cash transactions. The bank will finance the distribution of 1,000,000 new electronic point-of-sale (POS) terminals across all governorates in Egypt by the end of December 2020. The initiative includes incentives for banks to encourage the use of electronic payments and to train merchants on using POS terminals and QR codes for transactions.

The Meeza digital payment ecosystem supports multiple payment options and transaction methods through ATMs, Point of Sale (POS) terminals, Mobile Wallet, Internet Banking, and Card reader devices. Both Standard POS and Mini POS have card reading capabilities for various types like Magstripe ISO 1/2/3, Smart cards EMV Level 1, and Contactless ISO 14443 Types A & B. The system also supports QR Code transactions as per Meeza digital specifications. Both devices offer Wireless and Bluetooth connectivity options and support the integration of 3rd-party APIs to extract details such as terminal locations, status, etc. The PCI PTS 5.X-approved security feature ensures safe and secure transaction handling.

In a letter dated May 13, 2020, the Governor of the Central Bank of Egypt discusses the bank's initiative launched on December 12, 2019 to provide companies in industrial and agricultural sectors with loans up to EGP 50 million annually, at an interest rate of 8%. He also mentions that due to the ongoing COVID-19 crisis, the Central Bank's Board of Directors decided on May 10, 2020, to allow private sector companies operating in the agriculture and industrial sectors, whose annual revenues are above EGP 50 million, to benefit from this initiative according to its terms. The letter requests entities to take the necessary measures considering this decision effective as of the mentioned date.

In a letter dated May 13, 2020, the Chairman of the Board of a bank in Cairo, Egypt, is informed of the Central Bank of Egypt's initiative to provide 100 billion Egyptian pounds in funding at an annual interest rate of 8% to private industrial and agricultural companies with annual revenues of 50 million Egyptian pounds or more. Due to the challenges posed by the COVID-19 pandemic, the Central Bank has decided to extend this initiative to include construction companies meeting the same revenue criteria.

The Egyptian Banking Institute has announced that it is committed to applying the Basel III framework by June 2021, with the International Financial Reporting Standards (IFRS) being followed since February 26, 2019. Egypt's Central Bank Governor, Tarek Amer, stated that the country's banking system should be fully compliant with this international standard by June 2021. The Basel III framework consists of several key aspects including a minimum capital requirement of 10.5% for banks to ensure financial stability. It also addresses the problematic aspects of the banking industry such as the misuse and undercapitalization of certain institutions, hence ensuring that banks have enough capital reserves to endure any economic downturns or market instabilities.

In light of the challenging circumstances due to the COVID-19 pandemic and its impact on the banking sector, the Central Bank of Egypt has decided to postpone the deadline for banks to prepare their financial statements according to IFRS 9. The deadline has been extended from June 30, 2020, to June 30, 2021. Additionally, the grace period for banks to comply with the requirements of the March 15, 2020, circular and its subsequent circulars has been extended by six months.

The steps to minimize the risk of infection with the Omicron variant are: 1. Get vaccinated and receive booster shots. 2. Wear a well-fitted mask over your nose and mouth in indoor public places, especially if you're at high risk or live in areas with high transmission rates. 3. Avoid crowded or poorly ventilated indoor spaces. 4. Limit nonessential travel and follow all guidance and recommendations from authorities when traveling. 5. Practice good hand hygiene by regularly washing your hands, and avoiding touching your face. 6. If you experience symptoms of COVID-19, get tested immediately. 7. Stay informed about the latest developments regarding the Omicron variant and follow the recommendations from health officials.

These are the due diligence procedures for prepaid card services issued in March 2002. The procedures outline the definition of the service, the scope of the procedures, the use of a service provider to identify and verify the identity of customers, the customer acceptance policy, and the identification and verification of customers. The procedures also cover the identification and verification of natural persons, small companies and establishments, the updating of data, continuous monitoring of operations, and the management of systems for money laundering and terrorist financing risks. The procedures include rules for transfers, both local and external, and the role of intermediary banks in the payment chain. The procedures also include a supplement on the management of risks of money laundering and terrorist financing for prepaid card services.

In a letter dated April 22, 2020, the Governor of the Central Bank of Egypt, Tarek Amer, announced an increase in the daily cash withdrawal and deposit limits for individuals at bank branches and ATMs during the holy month of Ramadan to meet citizens' needs. The new limits are set at 50,000 Egyptian pounds for bank branches and 20,000 Egyptian pounds for ATMs. He also emphasized the importance of ensuring the operational efficiency of ATMs and regular sanitization of the machines.

Dear all, On behalf of the Board of Directors of Bank, I would like to greet you all and inform that starting from tomorrow, April 22, 2020, the daily maximum limits for both cash withdrawals and deposits from bank branches and ATMs have been raised. The previous limit was EGP 10,000 per transaction. However, now, the limit has been increased to EGP 50,000 for transactions made at bank branches and EGP 20,000 for transactions carried out through ATMs. I would like to emphasize once again on the importance of maintaining the efficiency of ATM machines as well as continuous provisioning of all ATMs by banks. All measures mentioned are effective starting from tomorrow's date, April 22, 2020. Best regards, Dr. Tarik Aamir

In light of the COVID-19 pandemic and its potential impact on the economy and banking sector, the Central Bank of Egypt has decided to waive the implementation of the decision regarding credit concentration limits for the top 50 clients and linked parties for a year, effective immediately. This decision aims to alleviate the burden on banks and maintain financial stability.

In light of the COVID-19 pandemic and its potential impact on the economy and banking sector, the Central Bank of Egypt has decided to ease some financial requirements for banks. One of these decisions, made during the board meeting held on April 12, 2020, was to exempt banks for one year from the decision regarding credit concentration limits for the top 50 clients and their linked parties.

In a letter dated April 16, 2020, the author addresses the Chairman of the Board of Directors of a bank in Cairo, Egypt, regarding the measures taken to mitigate the impact of the COVID-19 pandemic. The letter refers to previous circulars, including one dated March 15, 2020, which instructed banks to automatically postpone all customer obligations for 6 months without imposing delay returns or additional fines. The author clarifies that the accrued returns during the postponement period should be capitalized and added to the remaining facility amount, with customers not being charged the deferred returns with the first installment after the postponement period.

In light of the precautionary measures taken to address the impact of the COVID-19 pandemic, banks are instructed to postpone all customer obligations for 6 months and capitalize the value of returns calculated during the postponement period. This means that the returns are added to the remaining balance of the facility and repaid with the installments over the new duration of the facility. Customers are not to be charged the value of the deferred return with the first installment after the postponement period.

أصدر البنك المركزي المصري قرارًا بتعديل بعض القواعد المنظمة لتسجيل الائتمان، بما في ذلك إلغاء القائمة السوداء وإطلاق حرية التعامل مع العملاء غير المنتظمين في السداد، مع استمرار تصنيفهم ضمن فئات محددة. كما تضمن القرار قواعد جديدة لتصنيف العملاء غير المنتظمين، وفصل بيانات عملاء الجدولة عن عملاء التسويات، وتحديد نوع وحجم الائتمان. بالإضافة إلى ذلك، تم تحديد قواعد الإفصاح عن البيانات الخاصة بالعملاء غير المنتظمين، وإلغاء المعلومات التاريخية للعملاء غير المنتظمين من المؤسسات بعد انقضاء المدة المحددة. وتضمن القرار أيضًا قواعد لتنقية بيانات العملاء غير المنتظمين، وحذف العملاء ذوي المديونيات الأقل من ألف جنيه، وزيادة توعية العملاء بقواعد التصنيف.

The European Central Bank (ECB) has presented a new set of rules to ease restrictions on non-bank lending institutions. These changes will apply to investment firms, money market funds, and venture capital companies that are not considered significant institutions by the bank. The measures include raising the threshold for non-bank entities' investment in covered bonds from EUR 5 million to EUR 10 million and removing the need for prior approval of investment-grade corporate securities held directly or indirectly for portfolio management purposes. Moreover, the ECB will postpone supervisory reporting requirements for banks until March 31, 2020, for non-bank entities with deposits exceeding €10 million that have been granted temporary funding by the European Central Bank due to market turmoil caused by the COVID-19 pandemic. Finally, it's announced that these rules will apply from January 8, 2020, until March 31, 2020, and could be extended based on market conditions. The chairman of the ECB, Christine Lagarde, said: "These measures are designed to ensure that non-banking institutions continue to provide funding, especially during these uncertain times".

On March 25, 2020, the Central Bank of Egypt announced an expansion of its initiative to support private sector companies in the industrial and agricultural sectors. The expansion includes offering financing at an annual interest rate of 8% to companies in the agricultural sector with annual revenues between 50 million and 1 billion Egyptian pounds. This is in addition to the existing initiative from July 12, 2017, offering financing at a reduced interest rate of 5% to small companies in the agricultural sector with annual revenues between 250,000 and 50 million Egyptian pounds.

On March 25, 2020, the Central Bank of Egypt issued a letter to the Chairman of the Board of a bank, announcing an initiative to support the agricultural sector. The initiative includes offering financing to companies operating in the agricultural field, with an annual return of 8%. This is in addition to the continuation of the initiative launched on July 12, 2017, which provides concessional credit facilities at a reduced rate of 5% for small companies and establishments in the agricultural sector.

The Central Bank of Egypt has launched a support program for the tourism sector. The program will grant installment plans up to a maximum period for hotels, tourism projects, travel agencies, and transportation services in the tourism industry, excluding those selling for profit. This initiative is expected to help restart activities such as hotel accommodation, tourist project establishments, domestic transportation services, restaurants, and entertainment activities within tourist areas. It will also aid the aviation industry for carrying passengers. The Central Bank has already established creditworthiness standards for each participant prior to the program.

In a letter dated March 23, 2020, the Governor of the Central Bank of Egypt announces initiatives to support the tourism sector, including a 50 billion Egyptian pound fund offering 8% interest to finance companies and tourism establishments for renovation and upgrade of hotels, floating hotels, and tourist transport fleets. The letter also mentions a maximum two-year repayment period for credit facilities, with a grace period of up to six months for salary, supplier, and maintenance payments for specific tourism activities. These initiatives are subject to each client's credit study prepared by the bank.

In a letter dated March 22, 2020, the Governor of the Central Bank of Egypt requested the waiver of all fees and charges on local transfers in Egyptian pounds for a period of three months. This measure was implemented to reduce cash transactions and limit the spread of COVID-19, in line with the bank's proactive policies and health precautions.

In an effort to limit the spread of COVID-19 and reduce cash transactions, which may pose a risk to public health, the Central Bank of Egypt has requested that the Chairman of the Board of Directors of a bank waive all fees and charges on local transfers in Egyptian pounds for a period of three months.

In a letter dated March 22, 2020, the Governor of the Central Bank of Egypt, Tarek Amer, addresses the Chairman of the Board of Directors of a bank regarding precautionary measures to address the impacts of the COVID-19 pandemic. The letter refers to a previous circular and addendum instructing banks to postpone credit facilities' maturities for clients by six months without imposing additional fees or penalties. The letter also emphasizes the need to communicate any postponements and updated repayment schedules to clients through available means of communication.

In a letter dated March 22, 2020, Tarek Amer, addresses the Chairman of the Board of Directors of a bank regarding the postponement of credit installments for clients for six months due to the COVID-19 pandemic. The letter outlines key points, including the scope of credit installments, applicability to all clients, and the exclusion of new credit facilities granted after the issuance of the instructions. Banks are instructed to inform clients of the postponement and any additional costs incurred.

The Central Bank of Egypt has issued a circular to banks operating in Egypt regarding measures to be taken in response to the coronavirus outbreak. The measures include encouraging the use of electronic payment methods to facilitate financial transactions and reduce the spread of the virus. The circular includes instructions on mobile payment services, such as modifying account limits and allowing banks to open mobile accounts for existing customers using previously registered data. It also mentions the issuance of prepaid cards to citizens free of charge for a year and the modification of maximum limits for prepaid cards. Additionally, it addresses electronic collection procedures and internet banking services. Finally, it emphasizes the importance of ensuring the efficiency of various electronic channels and raising the level of cybersecurity monitoring.

In light of the Coronavirus (COVID-19) outbreak and the subsequent decisions by Central Bank of Egypt, the government is taking further measures to help citizens, businesses, and banks to manage financial issues during this challenging time. Here is a summary of what these measures are: 1. The Egyptian government announced that it will provide EGP 100 billion (around $6.5 billion) through the Central Bank of Egypt (CBE). This fund aims at supporting affected businesses, citizens and banks. 2. The CBE decided to cut the main operation rate by 3 percentage points to 9.25%. This will help reduce financing costs for businesses and individuals. 3. The decision of the government in increasing the maximum loan-to-deposit ratio from 10% to 15% will help banks manage their liabilities efficiently. 4. The Egyptian Authority (HE) has suspended the activity of non-bank financial institutions, including credit bureaus. This suspension is due to the need for these financial institutions to support citizens and businesses through this difficult period. 5. CBE will suspend the activity of non-banking financial institutions, including credit reporting agencies for a month starting from March 30, 202. 6. The government has decided not to impose any fines or penalties on banks during these challenging times. 7. The Central Bank of Egypt (CBE) will allow the extension of personal and business loans by up to six months for businesses and individuals who have been affected due to the spread of the Coronavirus (COVID-19). 8. CBE has decided to cut interest rates on deposits, savings accounts, and loans offered by banks to citizens and businesses. Here are the new rates: - Personal Deposit Accounts: 0% - Business Deposit Accounts: 0% - Personal Savings Accounts: 0% - Business Savings Accounts: 0% - Personal Loan Accounts: New rates will be set by the banks. - Business Loan Accounts: New rates will be set by the banks. 9. CBE decided to reduce the fees that banks charge their clients for some banking services, which include card management and money transfer services. Here are the new reduced fees: - ATM withdrawal: EGP 1 instead of EGP 5. - Banking Services Charges (Excluding Money Transfer and Card Management Services): EGP 30 instead of EGP 40. 10. The Central Bank of Egypt (CBE) has decided not to impose any additional fees or charges on banks during these challenging times. These measures aim to support citizens, businesses, and banks while ensuring financial stability and transparency within the banking system in Egypt during the Coronavirus (COVID-19) pandemic.

The Central Bank of Egypt has announced changes to certain facilities provided in previous guidelines issued on December 12, 2019, and March 17, 2020. The bank will adjust the interest rate on the following loan programs by reducing it from 10% to 8%: the private sector credit facility, mortgage finance for middle-income earners, and funding for hotels and transportation services. Banks will also offset the interest rate difference using the same mechanism. Moreover, the current terms of these facilities will remain unchanged. Finally, the interest rates applied to borrowers who have previously benefited from these facilities will be adjusted with a new interest rate applicable from the specified date, taking into account an increase or decrease by up to 8%.

On March 19, 2020, the Central Bank of Egypt issued a decision to reduce the interest rate on several initiatives, including the industrial private sector initiative, the mortgage finance initiative for middle-income individuals, and the initiative to support the renewal of hotels, floating hotels, and tourist transport fleets. The new interest rate was set at 8% (calculated on a diminishing basis) instead of 10%. Banks will be compensated for the difference in interest rates, and the remaining terms of the initiatives remain unchanged.

On March 19, 2020, the Central Bank of Egypt decided to suspend a previous decision regarding field inquiries about the suppliers of credit customers. This suspension aimed to facilitate credit granting procedures in light of the current situation. Banks are requested to take the necessary actions to implement this decision effective immediately.

In a letter dated March 19, 2020, Dr. Tarek Amer, Chairman and CEO of the Central Bank of Egypt, informed that due to the challenging circumstances, the Central Bank has decided to temporarily halt mortgage financing activities as stated in its previous reports issued on December 3, 2019, and February 26, 2020. The decision was made to ensure smooth implementation of credit support measures. He also urged everyone to follow these guidelines starting from their respective dates and asked for the highest consideration.

In a letter dated March 17, 2020, the Chairman of the Central Bank of Egypt, Tarek Amer, addresses the Chairman of the Board of Directors of a bank, referring to the governance instructions issued in 2011 and 2018, and their amendments in 2019, regarding the periodicity of the Board's meetings. Due to the exceptional circumstances faced by the world, the Central Bank of Egypt has decided to allow certain exceptions regarding the frequency of Board meetings and the participation of members via telephone or video conference until the end of the current year. These exceptions include removing limits on the number of times a Board member can participate remotely and waiving the requirement for a physical majority attendance.

In light of the extraordinary circumstances the world is facing, the Board of Directors of the Central Bank of Egypt decided to make the following exceptions from certain instructions issued on January 29, 2019 concerning regular board meetings and teleconferences: 1. Postponing the maximum number of times a single Board member can participate in virtual or phone meetings until the end of the current year. 2. No requirement for a majority of Board members to physically attend meetings. 3. Obtaining prior approval from the relevant regulatory authority regarding any matters pertaining to the Central Bank. These exceptions will continue to apply as long as the existing directives remain in effect. The statement is from Hesham Okbah, acting Chairman of the board of Banque Misr and was presented by Tarek Amer, Governor of the Central Bank of Egypt.

As a precautionary measure to mitigate the impact of the Coronavirus, the Central Bank of Egypt has instructed all banks to postpone credit facilities for corporate and retail customers, including consumer and personal housing loans, for a period of 6 months without applying additional returns or penalties for late payments. This decision is effective immediately and is in line with the ongoing monitoring of the banking market situation.

In Cairo, on March 16, 2020, the Governor of the Central Bank of Egypt addressed a letter with a message of goodwill. Referring to the book published by the Governor of the Central Bank in December 2015 regarding the procedures for import and financing operations, as well as the annual book published on March 6, 2019 on allowing banks to exempt non-agricultural goods from 100% foreign exchange requirements for import trade purposes for one year ending on March 15, 2020, in response to the need of the Egyptian market. The decision has been extended by another year until March 15, 2021, covering all imports for all companies after considering the risk studies carried out by each bank. Please take note of this decision and kindly accept my highest regards. Sincerely, Governor, Central Bank of Egypt (translated from Arabic)"

In March 2020, the Governor and Chair of the Central Bank of Egypt outlined a new initiative for unsecured loans to individuals who are not overdue to banks. This initiative aims to help those affected by the pandemic, allowing them to transact with the financial system again and improve their purchasing power. The initiative requires participants to have outstanding debts less than 1 million Egyptian pounds (not including credit card debt or pending lawsuits). In addition: - All claims and disputes related to the client are cleared upon agreement with the bank concerned. - Clients who take a cash loan or cash overdraft will receive a discount of up to 50% on their unsecured loans, excluding credit card debts. This initiative runs for one year from the date of the 50% loan being taken as historical data only. The initiative is scheduled to run until 31st March 2021 and will be applied to clients who had previously taken a loan before September 30, 2019. The Bank requests these individuals to consider applying for the initiative, provided they comply with additional instructions, and ensure compliance in accordance with applicable laws."

In Cairo, on March 16, 2020, the Governor of the Central Bank of Egypt announced that all interest payments by corporate and individual borrowers will be postponed for six months with no additional fees or penalties. This decision was made to combat the effects of COVID-19 and reflects ongoing changes in financial markets. Please adhere to this measure starting from the specified **date**.

In a letter dated March 16, 2020, the Governor of the Central Bank of Egypt communicated a decision to extend the period of exemption for rice, beans, and lentils from the 100% cash coverage requirement on import operations for trade purposes for another year, until March 15, 2021. This decision applies to all import operations of all companies, subject to the credit study conducted by each bank. The letter was addressed to the Chairman of the Board of Directors of a bank, requesting him to take the necessary action to implement the mentioned decision.

In March 2020, the Central Bank of Egypt issued an initiative for irregular individual debtors with total debts of less than EGP 1 million as of September 30, 2019. The initiative offers debt relief and a path to regularize their financial standing, including lifting legal and credit restrictions and releasing non-cash guarantees. The initiative was effective from the date of issuance until March 31, 2021.

In response to the COVID-19 pandemic, the Central Bank of Egypt has instructed banks to implement precautionary measures to ensure business continuity and meet the banking needs of their clients. These measures include enhancing awareness among bank employees, providing sanitizers and disinfection mechanisms, promoting the use of technology for meetings, and encouraging clients to use electronic channels and cards for transactions. The Central Bank of Egypt also emphasizes the importance of monitoring local and international situations to take immediate action to maintain banking and monetary stability.

The Central Bank of Egypt (CBE) has taken several emergency measures to maintain financial stability and ensure the availability of cash. They include: 1. Instructing banks to continue providing banking services, including loans, credit facilities, and foreign exchange transactions. 2. Providing liquidity support to banks through various tools, such as rediscounting operations for bills of exchange, loans, and local currency deposits. 3. Suspending all bank fees for the next six months related to the use of electronic payment systems, online banking, and ATM withdrawals. 4. Postponing the implementation of new rules concerning cash payments and the settlement of interbank balances. 5. Allowing banks to postpone repayments on unsecured loans and credit facilities for small and medium-sized enterprises (SMEs) for six months, without applying late payment fees or additional interest rates. 6. Enhancing communication channels between banks and customers through the establishment of call centers. 7. Increasing ATM cash withdrawal limits and allowing customers to make debit card payments using digital channels instead of cash withdrawals. 8. Reducing daily cash transaction limits for electronic payment cards, credit cards, and electronic wallets. 9. Encouraging electronic transactions over cash transactions. 10. Standby for intervention in case of disruptions in the financial and monetary systems. In conclusion, the CBE is committed to ensuring financial stability by taking all necessary measures to maintain confidence in the banking sector.

The letter, dated March 5, 2020, is addressed to the Chairman of the Board of Directors of a bank in Cairo, Egypt, and discusses the importance of financial inclusion for achieving sustainable development and financial stability. The Central Bank of Egypt directs the recipient bank to establish an independent department for financial inclusion, reporting to the executive management, to coordinate efforts related to financial inclusion. The department's responsibilities include developing a medium-term strategy and annual work plans, expanding geographic reach, enhancing financial literacy, and promoting sustainable development.

The letter is sent by the Egyptian Central Bank Governor to a representative of the Central Bank of another country, possibly a request for technical assistance or collaboration. The governor outlines Egypt's National Financial Inclusion Strategy (NFIS) and emphasizes the need for collaboration between their respective banks in promoting financial inclusion and achieving sustainable development. The letter lists 8 points for potential cooperation: 1. Share experiences and best practices in promoting financial inclusion and digital payments. 2. Strengthen the Central Bank of Egypt's (CBE) technical capacity to design, develop, and implement retail payment systems. 3. Develop a comprehensive national strategy to promote digital payments using emerging technologies. 4. Establish partnerships with relevant stakeholders in order to enhance financial inclusion. 5. Regularly monitor and evaluate the implementation of various financial inclusion initiatives within Egypt's banking system. 6. Assess the performance of employees at all levels and ensure that they receive adequate training. 7. Contribute to sustainable development through various means, such as promoting financial literacy, facilitating access to finance for small and medium-sized enterprises (SMEs), and encouraging the use of electronic payment systems. 8. Collaborate in preparing periodic reports on the progress and impact of Egypt's National Financial Inclusion Strategy. The letter also requests the recipient's organization to design a comprehensive financial inclusion strategy for their bank by May 2020, emphasizing the importance of coordination among various stakeholders and setting a deadline of one month. The governor ends the letter by asking for their high-level endorsement.

The Central Bank of Egypt has extended the period for Small and Medium-sized Enterprises (SMEs) to implement structural reforms until June 2020. This extension is due to the current economic situation, with the primary aim being to support Egyptian businesses during this challenging time. This decision comes after a thorough assessment of banks' commitment to follow through on previous guidelines and their efforts in facilitating loans and aid for various sectors. The Central Bank of Egypt emphasizes that it highly appreciates the cooperation of all concerned parties.

In a letter dated February 26, 2020, the Egyptian Central Bank extended the grace period for banks to comply with instructions regarding field inquiries for existing client suppliers by an additional three months, ending in June 2020. This extension was granted to facilitate the process of granting financing and to support various sectors. The original instructions, issued on December 3, 2019, required banks to take certain measures before granting credit to customers for working capital to pay supplier dues.

The letter discusses a meeting held by the Egyptian Central Bank with concerned banks and several struggling companies and factories with problematic and bad debts. The meeting addressed the obstacles faced by investors and their companies, the reasons for their struggles, and the necessary steps for the banking sector to facilitate their reintegration into the economic system and increase their production capacity. The Central Bank of Egypt's Board of Directors decided to amend two items related to the initiative, including modifying repayment periods and ratios to assist clients in overcoming financial difficulties and ensuring consistent cash flows to meet obligations.

The letter, addressed to the Chairman of the Board, refers to a previous circular dated December 12, 2019, regarding an initiative for legal entities with or without pending legal proceedings and with debt balances of less than 10 million Egyptian pounds. The letter discusses meetings held by the Central Bank of Egypt with concerned banks and struggling companies and factories with doubtful and bad debts. Based on the discussions, the Central Bank of Egypt's Board decided to amend two items related to the initiative, including modifying repayment periods and ratios to assist clients in overcoming financial difficulties and unifying the initiative's terms for all clients to ensure fair treatment.

The letter, dated February 16, 2020, is addressed to the Chairman of the Board of Directors of a bank, informing them of a decision by the Central Bank's Board of Directors to increase the percentage of real estate financing to 10% of the bank's total loan portfolio, excluding the Egyptian Arab Real Estate Bank and the Real Estate Development Bank. This decision is in line with a new initiative to allocate 50 billion Egyptian pounds for financing food targeting middle-income workers. The letter also emphasizes the continued validity of the remaining provisions of the aforementioned circular.

The Central Bank of Egypt has issued a new circular allowing banks licensed with the Central Bank to engage in mortgage financing activities. This comes as part of efforts to stimulate real estate investment and contribute to economic recovery following the pandemic's negative impact on various sectors. The move is designed to encourage and increase the flow of credit towards mortgage finance for the construction, purchase, or improvement of residential buildings, commercial offices, and facilities designated for commercial use. Banks will have to adhere to several guidelines including maintaining a sound capital adequacy ratio and not exceeding 0% of the total bank loans. The circular mandates that banks report their mortgage financing activities quarterly, and these reports should be submitted to the Central Bank no later than one month after the end of each fiscal year. The Central Bank will continue to monitor this area based on data already being reported by banks. In summary, the Central Bank is encouraging banks to engage in mortgage financing activities while adhering to strict guidelines. This move aims at stimulating real estate investment and contributes to economic recovery after the pandemic had a significant negative impact on various sectors.

In a letter dated January 12, 2020, the author informs the Chairman of the Board of Directors of a bank in Cairo that the initiative referenced, which allocated 5 billion Egyptian pounds for loans to medium-sized companies in the manufacturing, agriculture, and renewable energy sectors, has achieved its goals and exhausted its funds. As a result, they request that no new financing be granted under this initiative and that consideration be given to the possibility of the industrial private sector benefiting from another initiative launched on December 12, 2019.

In Cairo, on January 12, 2020, the Governor of the Central Bank of Egypt discussed the allocation of EGP 5 billion to medium-sized private companies operating in industries such as manufacturing, agriculture, and renewable energy with a return rate of 7%. The initiative was successful so far and therefore it is recommended to pause new funding under this initiative, considering utilizing the initiative that was issued on December 12, 2019. He highly appreciated the efforts of Tarek Amer, Minister of Finance.

The letter, dated January 8, 2020, outlines an initiative by the Egyptian Central Bank regarding corporate clients with doubtful or bad debts (creditworthiness categories 9 and 10) with balances of less than 10 million Egyptian pounds. The initiative offers concessions such as removal from the negative list, lifting of transaction bans, and release of guarantees if clients repay 50% of their debt by December 31, 2020. Banks are instructed to conduct credit studies, rely on project income for repayment, and refrain from excessive personal guarantees and checks as collateral.

The Bank will offer up to 75% financing of the combined rehabilitation and renovation costs. The client will pay the remaining 25%, which can be a mix of cash and a loan, with the loan's interest rate being set according to the following scale: | Type | Interest Rate in % | |--------|---------------------------| | Cash | 0 | | Al Etihad | 2 | | Nedaa | 5 | | Waha | 7 | | Scame | + | | SADAF | 10 | The Bank will conduct a financial study to determine the feasibility of the project, as well as continuous monitoring and implementation of the allocated funds. All funded amounts must be used in accordance with tourism ministry guidelines and standards. The Bank will only use the allocated funds to finance the 75% of combined renovation and rehabilitation costs, and the client will contribute the remaining 25%. The loan's interest rate and repayment period will be determined according to the project's financial study and the client's ability to pay. The Bank will use all allocated funds within a maximum period of three years to improve the facility's services and attract more tourists. The Bank will also consider the client's operational capacity when deciding on loan repayment terms. In the case where there are unused funds after the completion of the project, they must be returned to the Bank. The client is also required to inform the Bank about any changes in their financial situation or project scope. The client agrees that the funds allocated by the Bank will be used exclusively for the purposes specified in the agreement. They also agree to cooperate with the Bank in conducting financial studies and implementing loan terms, and to provide any information requested by the Bank. Please note that this summary is provided as a concise overview of the agreement's main points, and may not include all the specific details outlined in the full text. It is recommended that you carefully review the full text of the agreement before signing.

The Bank of Tanzania (BOT) has announced plans to reduce the statutory reserve requirements (SRRs) for both foreign and domestic commercial banks in a phased manner. The first phase will see a reduction of 50 basis points for both types of banks by the end of December 2020, followed by another cut of 25 basis points. This is expected to provide additional liquidity of about $1.2 billion. In addition, the BOT has proposed an amendment to the IFRS9 financial reporting standard, with the aim to address potential challenges faced during its implementation. The Central Bank of Tanzania believes that these measures will help foster growth and stability in the economy while ensuring prudent financial management."

The letter outlines a new initiative from the Egyptian Central Bank aimed at supporting the tourism sector, which is considered a cornerstone of the national economy due to its foreign currency earnings and job creation potential. The initiative offers relief to non-regular clients in the tourism industry with debts of 10 million Egyptian pounds or more, including those facing legal proceedings. It includes measures such as removing clients from blacklists, waiving legal cases, and releasing collateral upon agreement with banks on repayment terms.

The letter, dated January 8, 2020, is addressed to the Chairman of the Board of Directors of a bank in Cairo, Egypt. It refers to an initiative regarding legal entities, whether legal action has been taken or not, with doubtful or bad debts (creditworthiness categories 9 and 10) and a debt balance of less than 10 million Egyptian pounds. The Central Bank of Egypt has decided to amend certain terms of the initiative, including extending its validity until December 31, 2020. The letter also emphasizes the importance of conducting credit studies for customers, avoiding excessive personal guarantees and collateral, and refraining from legal action unless fraud is proven.

The letter announces a new initiative by the Egyptian Central Bank to support the tourism sector with 50 billion Egyptian pounds in funding through banks at a 10% interest rate. This initiative replaces a previous one from February 2017 and aims to help finance the renovation and modernization of hotels, floating hotels, and tourist transport fleets. The loan period is up to 15 years, and the bank will fund up to 75% of the total renovation and modernization costs.

The letter requests an extension of the "Real Estate Finance Initiative" and the "Consumer Finance Initiative for Tourism Workers" for an additional year, until December 2020. It also seeks to extend the grace period for tourism workers' loans for six months, in light of the challenges facing the tourism sector. Finally, it mentions the adoption of IFRS 9 standards for loan loss provisions.

The Central Bank of Egypt (CBE) has issued a resolution requiring banks to disclose all information related to any overdue facilities provided by them to the client and managed under the SME Credit Guarantee Scheme or the Egyptian Credit Guarantee Company. This is in compliance with the provisions of Law No. 136 of 2019 on Credit Guarantees for Small and Medium Enterprises (SMEs). The resolution includes the following main points: - Banks must disclose the full details of any facilities granted to an SME, managed under the SME Credit Guarantee Scheme or the Egyptian Credit Guarantee Company. This information should include all collateral pledged by the client. - Any existing restrictions on dealing with such a facility are to be removed for a period of two years from the date that 50% of the amount is overdue, provided this information is treated as historical data only. - All outstanding legal and litigation cases involving the customer should be settled immediately upon agreement by the bank concerned with the relevant banks for rescheduling of payments. - All specific guarantees relating to such facilities must be released. - The value of any write-off from the facility should be determined by the bank in accordance with its internal risk assessment procedure. - All specific guarantees relating to the same must also be released. - The value of any write-off from the facility should be determined by the bank in accordance with its internal risk assessment procedure. The resolution also requires banks to carry out a credit guarantee study for their clients, and to rely on project financing as a source of repaying the loan, instead of personal guarantees or collateral provided by customers including surety bonds. It also requests banks to take all necessary measures to implement these resolutions, and take into account the relevant legal provisions and procedures.

The letter, dated December 31, 2019, reiterates the Egyptian Central Bank's initiative to support private industrial companies with annual revenues between 50 million and one billion Egyptian pounds by providing 100 billion Egyptian pounds in credit at a 10% annual interest rate through banks. It emphasizes that the initiative should focus on financing the purchase of raw materials and production inputs, as well as capital investments in machinery, equipment, and production lines to increase production capacity. It also mentions the possibility of irregular customers benefiting from the initiative if they comply with the specified repayment terms.

In a letter dated December 31, 2019, the Governor of the Central Bank of Egypt, Tarek Amer, addresses the Chairman of the Board, emphasizing the Bank's initiative to support private industrial companies with annual revenues between 50 million and 1 billion Egyptian pounds. The letter reiterates that the initiative should focus on providing credit facilities for purchasing raw materials and production necessities, as well as financing machinery, equipment, and production lines to increase production capacity. It also mentions the possibility of irregular customers benefiting from the initiative if they comply with the specified repayment terms.

In light of improved economic indicators and an increase in GDP, the Central Bank of Egypt has decided to raise the maximum limit on consumer loans, including personal loans, credit card loans, and car loans for personal use, from 35% to 50% of an individual's monthly income. The housing loan limit has also been increased to 40%. The Central Bank will closely monitor performance indicators and adjust the limits if necessary.

To summarize, the performance of a machine learning model is highly dependent on the amount of labeled training data it has access to. Here's how different percentages of such data would affect the model's performance: - **90% - 100%**: These are ideal scenarios where we have sufficient labeled data for our model. As the percentage of available labeled data increases, the model can improve its ability to generalize and perform better on unseen data. - **70% - 89%**: This range is still good for training a machine learning model, but it might not be enough in some cases. The model might struggle with overfitting or underfitting issues depending on the complexity of your algorithm and the nature of your dataset. - **60% - 69%**: These percentages are closer to the edge. In this range, you need more data or use sophisticated techniques like ensemble methods, etc., to handle these issues effectively. - **0% - 59%** : This is a critical situation where we have very little labeled training data available for our machine learning model. The performance of your machine learning model would be significantly compromised in this case due to overfitting or underfitting issues, especially if the task you want to solve requires higher levels of abstraction (such as natural language processing tasks). Remember that each specific scenario will have different outcomes and solutions may vary. It's also important to consider other factors like data distribution, class imbalance, dimensionality reduction, etc., which can significantly affect your machine learning model's overall performance and optimization process.

The letter announces a new initiative by the Egyptian Central Bank to allocate 50 billion Egyptian pounds for mortgage financing, targeting middle-income customers. The letter outlines the terms and conditions of the initiative, including a 10% interest rate for a maximum of 20 years. It emphasizes the importance of adhering to credit granting controls and ensuring all requirements, guarantees, and documents are met before allowing the use of financing. The letter also highlights the need for strict compliance with credit-granting controls and the submission of all necessary documents to complete the mortgage process.

In light of improved economic indicators and an increase in GDP, the Central Bank of Egypt has decided to raise the maximum limit for consumer loans (personal loans, credit card loans, and car loans for personal use) from 35% to 50% of an individual's monthly income, including housing loans. This decision is effective immediately and will be monitored regularly, with the possibility of further adjustments if needed.

The letter outlines a financial initiative by the Egyptian Central Bank to stimulate the economy and help irregular clients with their debts. The initiative applies to legal entities with doubtful or bad credit ratings and debts of less than 10 million Egyptian pounds. Clients who pay 50% or more of their debt during the initiative period will be removed from the negative list at the Central Bank and the Egyptian Credit Bureau, and will have their debt-related restrictions lifted.

In an effort to support the industrial sector and reduce imports and unemployment rates, the Central Bank of Egypt has launched an initiative to provide 100 billion Egyptian pounds in funding to private industrial companies with annual revenues between 50 million and 1 billion Egyptian pounds. The funds will be offered through banks at a decreasing annual interest rate of 10%, with priority given to companies in the fields of exports, import substitution, and renewable energy. This initiative aims to boost local production and achieve sustainable development.

The Central Bank of Egypt (CBE) reaffirms its support for the Egyptian manufacturing sector, which plays a vital role in reducing imports and providing a stable source of income. To enhance local production, the CBE will allocate loans to private manufacturing companies with annual revenues or imports exceeding 50 million EGP. The loans' principal amounts and interest rates will be tailored according to the borrowers' performance, capacity, and cash flow position. The CBE also plans to support companies in strategic sectors by providing them with working capital loans and long-term financing facilities. To ensure loan repayment, the CBE will take necessary actions such as adjusting loan interest rates or extending loan maturities if needed. The CBE emphasizes that participating in this program is optional, but urges businesses to seriously consider taking part.

The letter outlines an initiative by the Egyptian Central Bank to facilitate the repayment of debts for irregular clients with outstanding balances of less than 10 million Egyptian pounds as of September 30, 2019. The initiative offers incentives such as removal from negative lists, waiver of legal proceedings, and release of guarantees upon a 50% cash payment of the debt. The letter emphasizes the need for the bank to take necessary actions to achieve the initiative's goals, including communicating with eligible clients and ensuring legal compliance.

In December 5, 2019, the Governor and Chairman of the Board of Banks of the Republic of Egypt announced that under the government's initiative to promote all types of payment methods and rely on local networks, the Central Bank of Egypt has successfully begun sending payments through the Electronic Payments Network "EG Switch". As a result, some banks have loaded customers' amounts exceeding the limits of the electronic network "Bank of Egypt" by twice the amount, an example of applying conversion fees. Considering that services should reach citizens at reasonable prices, banks must refrain from deducting any additional fees other than those of Bank of Egypt from payments sent by the Central Bank. The Governor and Chairman of Banks of the Republic of Egypt kindly request accepting this directive effective since its date of issuance, as well as your understanding and cooperation. Best regards, Jamal Naguib"

The letter, dated December 5, 2019, is addressed to the Chairman of the Board of Directors of a bank in Cairo, Egypt. It refers to the country's move towards digitizing all types of payments and using national local networks, as well as the establishment of the National Payments Council by presidential decree. The Central Bank of Egypt has recently started sending payments through the EG-ACH automated clearing house, but some banks have been charging beneficiaries higher fees than the EG-ACH fee of two Egyptian pounds. To ensure affordable financial services for citizens, banks are instructed not to deduct any additional commissions from beneficiaries of payments sent by the Central Bank, except for the EG-ACH fee.

In a letter dated December 3, 2019, the Chairman of the Board of Directors of a bank in Cairo, Egypt, is informed of the importance of conducting thorough customer due diligence before granting credit facilities. The letter references guidelines issued by the Central Bank of Egypt, emphasizing that credit facilities should be based on a deep analysis of the customer's financial position, business results, reputation, and commitment to meeting obligations. To ensure responsible lending practices, the bank is instructed to obtain an approved list of the customer's suppliers, conduct on-the-ground inquiries for local suppliers, and acquire copies of suppliers' commercial registers before conducting any transactions in their favor.

In a statement made on December 3rd, 2019, Al-Najm emphasized the importance of Egyptian banks to thoroughly examine client activities and guarantee the proper use of guarantees granted for their purpose. He also highlighted the need for ensuring safe commercial operations based on the loans they provide. This includes obtaining reliable information about suppliers, conducting field assessments of local suppliers, obtaining trade records for suppliers before engaging in any transactions, and periodically updating the instructions given. For existing supplier beneficiaries, a three-month grace period is provided to carry out field assessments. Al-Najm's statement concluded by requesting banks to strictly adhere to the mentioned guidelines and expressing high regard for them.

In a letter dated October 13, 2019, the Egyptian Central Bank's Board of Directors announces new regulations for banks providing credit facilities to microfinance companies and licensed NGOs. Banks must now report monthly to the Egyptian Credit Bureau (Score-I) on credit limits and usage for microfinance, in addition to the Central Bank's Credit Risk Department. Banks are also required to obtain a pledge from microfinance companies and NGOs to check customers' credit through Score-I to ensure they have no more than three loans from three institutions.

The Central Bank of Egypt has issued a new capital adequacy framework for microfinance institutions. This regulation will come into effect on January 1, 2022. The guidelines include the following key points: 1. A minimum core capital requirement of EGP 50 million ($3.26 million) and a total capital requirement of EGP 75 million ($4.89 million) for banks dealing with microfinance institutions, with an additional 15% requirement for those with more than 20 branches. 2. Microfinance institutions must obtain a commitment from clients to repay their loans and provide information on the total number of outstanding loans they have provided to each client. 3. Banks dealing with microfinance institutions are required to have a loan portfolio exposure limit of 20%. 4. Microfinance institutions are required to submit quarterly reports to the Financial Regulatory Authority, including their financial statements and information on their loan portfolio. 5. Microfinance institutions cannot refinance loans more than ten times. 6. The Central Bank of Egypt will establish a scoring system (Score-I) for supervising these institutions and monitoring their performance with their clients. 7. These institutions cannot issue more than four rounds of capital increases. 8. These institutions must adhere to the Financial Regulatory Authority's guidelines and regulations, including compliance with any violations identified by the authority by a specific date. These guidelines will apply to all banks and non-bank financial institutions dealing with microfinance institutions, and they must abide by the new framework within the stipulated time frame.

The document outlines updates to the instructions regarding maximum limits for client employment and associated parties, including the expansion of the definition of employment to include total capital commitments and a percentage of the unused portion of commitments for non-cancellable loans and facilities. Banks are given a six-month grace period to adjust to the new regulations.

The letter, addressed to the Chairman of the Board of Directors of a bank, refers to previous circulars and instructions regarding maximum limits for client exposure and related parties. The Central Bank of Egypt has decided to update certain concepts related to these instructions, including applying all applicable instructions on aggregate exposure limits for the bank and its financial subsidiaries (excluding insurance companies), expanding the definition of exposure to include total value of capital commitments, and providing a 6-month period for banks to align with the new regulations.

The letter, dated August 7, 2019, is addressed to the Chairman of the Board of Directors of a bank in Egypt from the Egyptian Central Bank. It outlines regulations for banks wishing to engage in the activity of exporting and importing foreign currency banknotes. Banks must apply for a license from the Central Bank, meeting specific conditions related to policies, procedures, and controls for anti-money laundering and counter-terrorism financing. The letter also details requirements for internal control systems, contract approvals, and staff training. It emphasizes that outsourcing cash export to money transfer companies requires prior approval from the Central Bank.

The Central Bank of Egypt is committed to maintaining the performance of the banking sector and has issued guidelines for the export and import of foreign currency banknotes. Banks wishing to engage in this activity must apply for a license from the Central Bank and meet specific requirements, including having approved policies and procedures in place and conducting due diligence on counterparties. The Central Bank also sets limits on the amount of foreign currency that can be exported and requires banks to comply with anti-money laundering and counter-terrorism financing regulations.

This document outlines the regulatory instructions for financial inclusion products and services in Egypt. It defines financial inclusion as the process of providing affordable and fair financial services to citizens, with the aim of integrating them into the formal financial system. The Central Bank of Egypt and the Anti-Money Laundering and Terrorist Financing Unit must approve these products and services. The document also details the procedures for due diligence, customer identification, and verification for financial inclusion products and services.

Here is a summary of the AML/CFT guidelines for correspondent banking as provided by the Egyptian Central Bank: 1. Implement AML/CFT policies and procedures that apply to correspondent banking relationships. 2. Establish a customer identification program with due diligence measures for customers in correspondent banking relationships. 3. Conduct ongoing monitoring of transactions, accounts, and relationships for suspicious activity. 4. Establish internal controls and processes to manage the risks associated with correspondent banking relationships. 5. Develop policies and procedures to ensure compliance with the relevant AML/CFT laws and regulations in all jurisdictions where the bank operates. 6. Implement risk-based measures to identify and mitigate the risks associated with correspondent banking relationships, including identifying high-risk jurisdictions and conducting enhanced due diligence on customers in these jurisdictions. 7. Conduct regular training for relevant staff members to ensure their understanding of AML/CFT requirements and practices. 8. Establish a system for reporting suspicious transactions to the appropriate authorities in both the sender's and recipient's countries, as well as maintaining records of such reports for at least five years. 9. Cooperate with foreign financial intelligence units and law enforcement agencies in the investigation and prosecution of money laundering and terrorist financing activities. 10. Conduct regular risk assessments to identify potential risks associated with correspondent banking relationships and develop strategies to manage these risks. 11. Ensure that the bank's AML/CFT policies and procedures are consistently applied across all business lines, including retail banking, wholesale banking, and investment services. 12. Establish a system for reporting suspicious transactions to the appropriate authorities in both the sender's and recipient's countries, as well as maintaining records of such reports for at least five years. 13. Maintain clear and transparent communication with customers about the bank's AML/CFT policies and procedures, including the requirement for customers to provide the necessary information for due diligence purposes. 14. Establish a system for conducting regular audits and reviews of the bank's AML/CFT policies and procedures, as well as maintaining records of these audits and reviews for at least five years. 15. Ensure that the bank has appropriate IT systems in place to support its AML/CFT policies and procedures, including systems for monitoring transactions, screening customers, and reporting suspicious activity. 16. Establish a system for cooperating with foreign financial institutions in the exchange of information related to correspondent banking relationships, including sharing customer due diligence information and other relevant data. 17. Develop policies and procedures to ensure compliance with the relevant AML/CFT laws and regulations in all jurisdictions where the bank operates, including the implementation of any specific requirements applicable to correspondent banking relationships in those jurisdictions. 18. Conduct regular training for relevant staff members to ensure their understanding of AML/CFT requirements and practices, as well as maintaining records of these trainings for at least five years. 19. Establish a system for reporting suspicious transactions to the appropriate authorities in both the sender's and recipient's countries, as well as maintaining records of such reports for at least five years.

هذه القواعد هي المبادئ التوجيهية التي تحكم خدمات الدفع باستخدام البطاقات المدفوعة مسبقًا في مصر. وهي تحدد مسؤوليات والتزامات مجلس الإدارة والإدارة العليا، وتصنيف المخاطر، وقواعد مكافحة غسيل الأموال وتمويل الإرهاب، والضوابط الرقابية على خدمات الدفع باستخدام البطاقات المدفوعة مسبقًا، واعتبارات الأداء وضمان استمرارية العمل، وسرية وسلامة المعلومات، وأمن العملاء والضوابط لبعض المخاطر الأخرى. يجب على البنوك التي تقدم خدمات الدفع باستخدام البطاقات المدفوعة مسبقًا أن تحدد بوضوح الحقوق والالتزامات بينها وبين عملائها في عقد إصدار البطاقات المدفوعة مسبقًا. يجب أن تتضمن هذه العقود بنودًا محددة وواضحة، مثل توضيح مستوى خصوصية بيانات العملاء، وإجراءات إيقاف البطاقة أو إعادة تشغيلها، وإتاحة إمكانية إيقاف استخدام الخدمة عند إساءة استخدامها، وما إلى ذلك. علاوة على ذلك، يجب على البنوك

The Egypt of Bank Central to Belongs Book is a comprehensive and visually appealing guide that provides an in-depth look into the financial system, economy, and monetary policies of Egypt. It includes detailed information on topics such as banking and non-banking sectors, foreign exchange reserves, inflation, government debt, trade balances, central bank functions, and more. The book also features various diagrams, charts, and photos to help readers better understand complex financial concepts and trends. The content is designed for those interested in learning about Egypt's economy, finance, and the role of the Central Bank of Egypt (CBE) within it. While the book is primarily a resource for professionals and students of economics and finance, it can also be used as a valuable reference tool for anyone seeking to gain a better understanding of Egypt's financial landscape and the inner workings of its central bank. Overall, this book serves as an excellent source of information that helps promote awareness and understanding of Egypt's economy and financial system.

The Central Bank of Egypt (CBE) has issued new guidelines for banks' investments in small and medium enterprises (SMEs) financing funds. The aim is to encourage and support the growth of these businesses by providing better access to finance and reducing the risk associated with bank lending. The main points are as follows: - Banks should allocate at least 10% of their total assets in SMEs financing funds. - A cap of 50% of the total capital of the banks will be applied, ensuring that no more than half of the bank's capital is included within the group. - The bank must adhere to all domestic financial ratios and regulatory requirements for credit institutions. - SME financing funds should be part of the bank's capital adequacy ratio (ICAAP). - Banks will need a license from the Financial Regulatory Authority (FRA) to handle non-banking financial transactions, while also being subject to general supervision by the FRA. - The SME financing fund must include provisions for exiting the fund if the bank does not achieve profits for three consecutive years. - An exit option for banks from the SME financing fund is provided in case of non-profitability for a period of three consecutive years.

The letter expresses the Egyptian Central Bank's interest in promoting micro, small, and medium-sized enterprises and its efforts to expand funding for these businesses. It references instructions from January 11, 2016, and May 23, 2017, mandating banks to increase their loan portfolios for these enterprises to 20% of their total credit facilities within four years. The letter also highlights the Central Bank's decision on May 22, 2019, to include banks' contributions to the capital of investment funds targeting small startups within the 20% quota and to set relative risk weights at 0% for these contributions.

The Central Bank of Egypt (CBE) has issued a new regulation regarding the issuance and acceptance of electronic payment cards, which will become effective starting October 2021. Below is an overview of the main points from this regulation: - Banks must obtain approval from CBE before providing any additional credit card services. - The regulation includes detailed guidelines for banks to follow in order to meet the required security standards. - Banks are now responsible for overseeing and enforcing the electronic payment cards' compliance with set standards. - All information, designs, charts, etc., belong exclusively to CBE based on its authorization. Any form of duplication or usage without authorization is prohibited. In summary, this new regulation by the Central Bank of Egypt sets out clear guidelines and responsibilities for banks in providing and accepting electronic payment cards. It emphasizes the need for strong security standards to protect customers' financial information. Finally, it states that all information, designs, charts, etc., belong exclusively to CBE based on its authorization, which means no duplication or usage without proper authorization from CBE.

هذه الوثيقة هي مجموعة من القواعد التي وضعها البنك المركزي المصري لتنظيم استخدام المدفوعات الإلكترونية غير التلامسية. وتنطبق هذه القواعد على جميع البنوك العاملة في جمهورية مصر العربية، بما في ذلك فروع البنوك الأجنبية. وتتضمن الوثيقة تعريفات عامة، ومسؤوليات والتزامات مجلس الإدارة والإدارة العليا، وقواعد مكافحة غسيل الأموال وتمويل الإرهاب وأمن المعلومات، وقواعد إصدار وقبول المدفوعات الإلكترونية غير التلامسية، ورصد الأنشطة غير العادية، وحملات التوعية. كما تتناول الوثيقة إجراءات الحصول على ترخيص لتقديم الخدمة، وتؤكد على ضرورة التزام البنوك بالقواعد والتقارير الصادرة عن البنك المركزي المصري فيما يخص هذه المدفوعات.

In an effort to support the Egyptian economy and its development plans, the Central Bank of Egypt has issued directives regarding real estate development companies, specifically those involved in constructing residential units for sale. These directives include regulations for banking finance and set a maximum limit on the ratio of loan installments for consumer and personal housing loans to individuals' monthly income. The Central Bank's Board of Directors has decided to issue guidelines for discounting commercial papers of real estate development companies without recourse, with conditions such as maintaining a minimum 50% contractual value of the unit and a maximum repayment period of 6 years.

The Central Bank of Egypt has approved the implementation of Basel II supervisory review and evaluation process to enhance the performance of the banking sector and improve its risk management practices. The new regulations focus on concentration risk management and require banks to assess and report their individual and sectoral concentration risk exposure. The Central Bank of Egypt will evaluate banks' compliance with these regulations and may request additional capital requirements for banks with high concentration risks.

أصدر البنك المركزي المصري تعليمات رقابية جديدة لإدارة مخاطر التركز في إطار الدعامة الثانية لمقررات بازل، والتي تهدف إلى تعزيز أداء الجهاز المصرفي وتطوير أساليب إدارة المخاطر لديه. وتشمل التعليمات الجديدة المتطلبات النوعية لإدارة مخاطر التركز، بالإضافة إلى المتطلبات الكمية لقياس مخاطر التركز الائتماني. وتسري هذه التعليمات على جميع البنوك العاملة في جمهورية مصر العربية، بما في ذلك فروع البنوك الأجنبية. وتتضمن التعليمات الجديدة تعريفًا لمخاطر التركز وأنواعها، بالإضافة إلى أساليب الحد منها. كما تتناول التعليمات المتطلبات النوعية للبنوك الخاصة بإدارة مخاطر التركز، والتي تشمل المبادئ الأساسية ومتطلبات الرقابة والإشراف. وفيما يتعلق بالمتطلبات الكمية، تتناول التعليمات طرق قياس مخاطر التركز الائتماني، سواء على المستوى الفردي أو القطاعي.

The Egyptian Central Bank Governor, Tarek Amer, has announced that banks must not offer additional loans to real estate development companies listed on the stock market. He also stated that the total outstanding loans from banks and affiliated entities should not exceed 15% of a bank's total retail lending, with no more than 30% of the bank's retail loan portfolio allocated to real estate developers. Additionally, the combined debt of any listed real estate development company and its associated entities cannot surpass the limit set by the Central Bank under Law No. 162 of 2015 or 60 days from the due date, whichever is less. The bank must also follow guidelines issued by the Financial Regulatory Authority on February 2019, and there should be compliance reports published by the Financial Supervisory Authority according to International Reporting Standards (IFRS) since June 2005 and April 2006. Banks must disclose information monthly according to TSRE guidelines.

These rules outline the use of payment technology service providers and electronic payment facilitators in Egypt. They cover the responsibilities of the Central Bank of Egypt and commercial banks, as well as the requirements for service providers and facilitators. The rules aim to promote the use of electronic payment methods and ensure the security of all parties involved in the electronic collection process.

هذه القواعد هي الحد الأدنى الالزم للبنوك للتعامل مع مقدمي الخدمات التكنولوجية للمدفوعات وميسري عمليات الدفع الإلكتروني. يجب على البنوك التأكد من اتخاذ جميع الإجراءات اللازمة لإدارة المخاطر المرتبطة بتقديم هذا النوع من الخدمات المصرفية. تنظم هذه القواعد استخدام مقدمي الخدمات التكنولوجية للمدفوعات وميسري عمليات الدفع الإلكتروني فقط، دون الإخلال بالضوابط الرقابية للعمليات المصرفية الإلكترونية السابقة الصادرة عن البنك المركزي المصري. يجب على البنك إجراء الأبحاث اللازمة بشأن الكفاءة والبنية التحتية للنظام والقدرة المالية لمقدمي الخدمات التكنولوجية للمدفوعات وميسري عمليات الدفع الإلكتروني قبل إبرام أي اتفاقيات معهم. يجب على البنك التأكد من أن سياسة أمن المعلومات المطبقة تغطي خدمات التحصيل من خلال مقدمي الخدمات التكنولوجية للمدفوعات وميسري عمليات الدفع الإلكتروني. يجب على البنك وضع نظام داخلي يسمح له بالرقابة المستمرة للعمليات التي تتم من خلال مقدمي الخدمات

On March 14, 2019, the Central Bank of Egypt decided to expand the beneficiaries of its 2016 initiative offering low-interest loans to small businesses and enterprises to include agricultural cooperatives and farmers transitioning to modern irrigation methods. This expansion aims to positively impact Egypt's economic growth and development by providing much-needed support to the agricultural sector. The decision was communicated to the banks, instructing them to implement the resolution.

In March 2019, the Governor and Chairman of the Board of the Central Bank of Egypt announced a low-cost loan program at an interest rate of 5% aimed at supporting small businesses and expanding its scope to include farming cooperatives. The initiative aims to contribute significantly to economic growth by boosting agricultural production and modernizing water irrigation systems. In response, the board approved various decisions, including allowing banks to finance farmers' cooperatives, both private and established groups, for transitioning to modern irrigation methods within the bank's initiatives for small businesses."

On March 6, 2019: The Governor of the Central Bank of Egypt discussed import operations and subsequent deposits with due attention to the Egyptian market needs. The decision allows banks to exempt 100% from foreign exchange reserves for importing trade goods until March 15, 2020. This aims to ensure all import operations while considering each bank's financial study. He kindly requests everyone involved to follow the mentioned decision. Please note that this summary is a concise interpretation of the original content and may not cover all details or nuances of the original message.

On March 6, 2019, the Central Bank of Egypt issued a letter to the Chairman of the Board of Directors of a bank, allowing an exception to the cash coverage requirement for rice, beans, and lentils imports. This exception is valid for one year, ending on March 15, 2020, and applies to all import operations of all companies, subject to the credit study conducted by each bank. The letter emphasizes the bank's efforts to facilitate import procedures and meet the needs of Egyptian citizens.

The letter is from the Central Bank of Egypt to the Chairman of the Board of Directors of a bank. It discusses the implementation of the International Financial Reporting Standards (IFRS) 9, which will take effect on January 17, 2018, and the bank's obligation to prepare its financial statements accordingly by January 28, 2018. The letter also mentions the need to prepare the bank's financial statements for 2019 in accordance with the IFRS 9 standards. It emphasizes the importance of adhering to the IFRS 9 standards and the need to prepare the bank's financial statements for 2018 based on these standards. The letter provides guidance on the application of the IFRS 9 standards, including the treatment of financial assets and liabilities, the expected credit losses, and the impairment of financial instruments. It also highlights the role of the bank's management and the importance of internal controls and governance in ensuring compliance with the IFRS 9 standards.

The letter informs the bank's board of directors about the adoption of IFRS 9 and the need to prepare for its implementation. It highlights the importance of adhering to the Central Bank of Egypt's instructions and the potential impact on financial statements. The letter also emphasizes the need for proper governance and internal controls to ensure accurate and timely reporting.

In a letter dated February 21, 2019, the Central Bank of Egypt's Chairman addresses the continuation of the bank's mortgage financing initiative for low-income customers. The letter outlines rules and procedures, including providing necessary financing through banks' self-resources at a fixed interest rate for a maximum of 20 years. It also mentions compensating banks for the interest rate difference and emphasizes that interest rates for customers must remain unchanged throughout the loan period. The letter concludes by highlighting the need for banks to adhere to credit granting controls and maintain proper records.

The letter, dated February 21, 2019, is addressed to the Chairman of the Board of Directors of a bank, regarding the Central Bank's initiative for mortgage financing for low-income individuals. The letter outlines the rules and procedures for the initiative, including providing financing through banks' self-resources at a fixed interest rate for a maximum period of 20 years. It emphasizes that interest rates for clients should remain unchanged throughout the loan period. The letter also highlights the need for banks to adhere to credit granting guidelines and maintain proper records. The attached document provides detailed guidelines for the initiative, including eligibility criteria, interest rates, and repayment terms.

The letter is addressed to the Chairman of the Board of Directors of a bank, and it discusses the importance of protecting the rights of bank customers to promote trust and competition in the banking sector. The Central Bank of Egypt has issued instructions for the protection of bank customers' rights, which aim to establish internal policies and procedures for banks and outline the principles for dealing with customers. These instructions emphasize the importance of offering suitable products and services that meet customers' needs and abilities to fulfill resulting obligations. The letter also mentions the concept of protecting customer rights, which includes clear foundations and rules governing the relationship between banks and their customers at all stages of the transaction. It highlights the need for fairness, transparency, data protection, and a clear mechanism for handling complaints. The letter refers to a previous communication dated August 2, 2018, regarding the draft instructions for protecting bank customers' rights, and mentions that after studying the comments and suggestions received from banks, the Central Bank of Egypt's Board of Directors has issued a decision on February 13, 2019, regarding the instructions for protecting bank customers' rights, allowing banks a one-year period for compliance.

The Central Bank of Bahrain (CBB) has published a set of guidelines on electronic banking services. Here are the key points: 1. Banks must ensure that their systems and security protocols adhere to international standards for ensuring safety and privacy of customer information. 2. Banks must take full responsibility for managing all the risks that customers may be exposed to as a result of using electronic banking services, including potential data breaches, fraud, or cyberattacks. 3. Customers should be informed about protecting their passwords and personal information related to electronic banking services. 4. Banks must provide appropriate channels for customers to conduct all electronic banking transactions. 5. Banks cannot impose additional fees on customers using their electronic banking services. 6. Customers must be notified immediately of any changes to the specific terms and conditions associated with using electronic banking services, such as withdrawal limits or additional charges. 7. Banks must ensure that their electronic banking services meet customer expectations and are up-to-date with current technology. 8. Customers must be made aware of the necessary actions they need to take in case of theft, loss, fraud, or cyberattacks. 9. Banks should provide appropriate communication channels for customers to report theft, loss, fraud, or cyberattacks.

On January 28, 2019, a letter was sent to the Chairman of the Board of Directors of a bank, referencing previous correspondences and requesting action on a matter related to a loan and its repayment schedule. The letter also mentions a meeting that took place on February 28, 2018, and expresses the need for a decision to be made regarding the matter. The sender respectfully requests a response and emphasizes the importance of the issue.

In Cairo on January 28, 2019, the Governor of the Bank and Chairman of its Board, Tiberio Graziani, expressed his good wishes, reflecting that during his term from February 2014 until now, there were no losses incurred by bondholders or savers. He highlighted that they received their full interest on time. As a result, he was confident in asking for trust and support to continue leading the bank with a strong commitment to transparency, which has characterized his governance since his election.

In Cairo on January 29th, 2019, the Central Bank of Egypt's Board of Directors held a meeting to discuss and amend some guidelines that were issued in August 2011, September 2018, and to enhance the performance and efficiency of Egyptian banks. The board agreed to modify the following rules: 1. Change the frequency of the required board meetings from at least four times per year to a scheduled, well-organized meeting every eight times throughout the year. The board chairman or any executive director must also call for this session. 2. If an in-person attendance is not possible, members are allowed to participate via video conference after approval by the board chairman and notification of the Board Secretary. This rule will be in place for at least one year. All other guidelines remain unchanged.

In a letter dated January 29, 2019, the Governor of the Central Bank of Egypt, Tarek Amer, addresses the Chairman of the Board of a bank, referring to the banking governance instructions issued in August 2011 and September 2018. The Central Bank of Egypt's Board of Directors has decided to amend two items from the September 2018 instructions to enhance the efficiency and performance of banks in the Egyptian banking sector and reduce their burdens. The amendments include changes to the frequency of meetings and attendance requirements for board members.

وافق مجلس إدارة البنك المركزي المصري على تمديد مبادرتين لدعم قطاع السياحة في مصر. تم تمديد المبادرة الأولى، وهي مبادرة دعم قطاع السياحة، لمدة عام إضافي حتى نهاية ديسمبر 2019، مما يسمح بتأجيل استحقاقات البنوك لمدة تصل إلى 3 سنوات. كما تم تمديد المبادرة الثانية، وهي مبادرة قروض التجزئة للعاملين في قطاع السياحة، لمدة عام حتى نهاية عام 2019، مما يسمح للبنوك بترحيل استحقاقات عملاء القروض الاستهلاكية والعقارية لمدة 6 أشهر إضافية.

The Governor of the Central Bank announced the following details regarding the new financial assistance package for small and medium-sized enterprises (SMEs) affected by the COVID-19 pandemic, including: .1 A financial support program called "Tatweer Repayment Program for SMEs," which will provide financing to existing customers of banks who are SME owners negatively impacted by the coronavirus crisis, with a maximum financing amount equal to 5 million Egyptian pounds per client. This program is scheduled to launch on July 1, 2020 and will last for two years. .2 A period of six months' grace for the repayment of loans given to SMEs affected by the pandemic, with no additional charges or interest. The grace period will start from the date the loan is due and end by December 31, 2021, exclusively for businesses that suffered a decrease in customers, without affecting their customers. .3 No interference with existing commitments, while taking into consideration international accounting standards (IFRS) applied by banks effective from January 1, 2020 and those applied by June 30, 2020. This also applies to businesses whose financial statements were prepared up until June 30, 2020. These measures are designed to help alleviate the burden on small and medium enterprises negatively impacted by the coronavirus crisis. ```

تتضمن الرسالة تفاصيل التعليمات الرقابية لإدارة مخاطر أسعار الفائدة للمراكز المحتفظ بها لغير أغراض المتاجرة، والتي أصدرها البنك المركزي المصري. وتنطبق التعليمات على جميع البنوك العاملة في مصر، بما في ذلك فروع البنوك الأجنبية، وتهدف إلى تطبيق أفضل الممارسات الدولية في مجال الرقابة المصرفية. وتتضمن الرسالة تفاصيل متطلبات إدارة المخاطر، بما في ذلك التقييم النوعي والكمي، واختبارات التحمل، ودور البنك المركزي المصري في الإشراف على الامتثال.

The Basel Committee on Banking Supervision (BCBS) has released a new guide that provides banks with comprehensive guidance on how to design, implement, and manage their stress testing frameworks. The publication of this document is an important step forward in further enhancing the effectiveness and consistency of global bank stress-testing activities. The Basel III reform package introduced a number of measures aimed at strengthening banks' ability to withstand financial shocks through enhanced stress testing. It established specific expectations for banks regarding their internal approaches to stress testing, including minimum standards for design, frequency, coverage, and disclosure requirements. In addition, it outlined the supervisory frameworks that should be applied by national authorities responsible for overseeing banks' compliance with these requirements. This new guide provides a more detailed explanation of those expectations, presenting them in the form of seven key principles: 1. **Purpose and Objective:** The primary purpose of a stress-testing framework is to assess the resilience of a bank's balance sheet against different economic scenarios. 2. **Scope and Coverage:** A robust stress-testing framework should cover all material risks that could have significant financial implications for a bank, such as credit risk, market risk, operational risk, and liquidity risk. 3. **Methodology and Design:** The design of the stress-testing framework should be based on sound methodologies that reflect the main risks faced by banks and their potential impact on the bank's balance sheet. 4. **Frequency and Timeliness:** Stress tests should be conducted regularly, with the frequency depending on the bank's risk profile and the severity of the economic scenarios being tested. 5. **Quality and Quantity of Data:** The stress-testing framework must rely on high-quality, comprehensive data that accurately reflect the current state of the bank's balance sheet and its exposure to various risks. 6. **Integration with Supervisory Expectations:** Banks should ensure that their stress-testing framework is closely aligned with the expectations set out by supervisors, including those relating to the design, frequency, coverage, and disclosure requirements of the tests. 7. **Ongoing Assessment and Review:** Banks should regularly review and assess the effectiveness of their stress-testing framework, making any necessary adjustments or improvements to ensure its continued relevance and usefulness. By adhering to these seven principles, banks can ensure that their stress-testing frameworks are effective, consistent, and aligned with best international practices. This will help them to better identify and manage the risks they face, while also strengthening confidence in the stability and resilience of the global banking system as a whole.

"I would like to emphasize on the importance of ensuring all board members' participation in board meetings either through phone calls or video conferences, and mention that, if any member cannot attend due to travel restrictions or other reasons, a report must be prepared by the management covering all agenda items of the meeting. This report should then be circulated to all board members, whether physically present or participating via telecommunications channels, along with recordings of the meetings - provided within the bank's internal policies. Any objections or alterations from any of the board members must be addressed by the board chairman during the next scheduled meeting attended by board members."

The letter, addressed to the Chairman of the Board of Directors of a bank, refers to the Central Bank of Egypt's decision made on September 12, 2018, regarding amendments to the Governance Instructions issued in 2011. The changes include modifying the frequency of board meetings and allowing members to participate remotely via phone or video conferencing under specific conditions. The letter also outlines additional tasks for the Secretary of the Board, such as recording attendance and ensuring the receipt of documents by members participating remotely.

أهلا بكم في مرحلة وحدتكم الجديدة. هذا هو نص الشروط والأحكام عن طريق إستخدام خدمات البنك في سويس. لجعل عملية هذه مباشرة ، يرجى تحقق من المعلومات المتعلقة بإستخدام خدمات البنك في سويس. 1- شخص واحد جري التحقق مع العمل والأمان. 2 - منتدى البنك السويسري هو مؤسسة تعتمد على قاعدة البيانات حيث تبدأ في 30 سبتمبر 2018 ، لتجميع البيانات الخاصة بك والتحقق منها. 3 - النظام المؤقت يطلب أن تقدم بيانات عملاء سويسر في موعد 21 أكتوبر ،2018. بالإضافة إلى ذلك ، سيتم التحميل الخاص ببيانات العمالء من قاعدة البيانات شهريًا ويُفَوِّض أن يتم تحميل التحديث الخاص ببيانات العمالء من خلال المتصفح الخا بس. 4 - هذ تحق الأمان 5، هو مؤسة تعل بيانات طرية ضاً يجز الأمان شغ في إداله. تحق معل والأمان 5، هو مؤسة تعل بيانات الكرة الذاتية شغ في إداله. 5 - بيانات طاقات تحق معل والأمان 5، هو مؤسة تعل بيانات الكرة الذاتية شغ في إداله. 6- ست أن تحق معل والأمان 5، هو مؤسة تعل بيانات الكرة الذاتية شغ في إداله. 7 - الض عل الأمان 5، هو مؤسة تعل بيانات الكرة الذاتية شغ في إداله. 8- بيانات الخدج المضوية تحق معل والأمان 5، هو مؤسة تعل بيانات الكرة الذاتية شغ في إداله. 9- الأمان 5 ، هو مؤسة تحق بيانات الخدج المضوية. 10 - ن أن تحق معل والأمان 5، هو مؤسة تعل بيانات الخدج المضوية. هذ الشرة هي الإصال على طرية تتوفر خدمات البنك في سويس. لك أن تحق معل والأمان 5، هو مؤسة تحق بيانات الخدج المضوية. كم ، يُرِّج في إطع الأمان بشرة جدية.

In an effort to promote financial inclusion and integrate more segments of society into the banking system, the Central Bank of Egypt has created a comprehensive database to collect and analyze data related to financial inclusion from the banking sector. This database aims to identify the actual number of beneficiaries of banking services and avoid duplication of individuals as a first step. The project will be implemented in phases, starting with collecting basic data of Egyptian individuals who are clients of the banking sector, including deposits and official documents as per the customer identification and electronic banking services guidelines issued by the Anti-Money Laundering Unit on April 14, 2011.

Cairo, September 5, **2018** Dear Esteemed / Bank CEOs, In light of the government's approach to stop funding for non-banking companies, I would like to emphasize that your banks should obtain a pre-approved written permit from the Ministry of Finance before issuing any financial guarantees to non-banking companies. Please be guided accordingly and kindly accept **my highest respects**, Jamal El-Nagm

In a letter dated September 5, 2018, the Chairman of the Board of Directors of a bank in Cairo, Egypt, is informed of the government's intention to assess the scale of lending granted by the banking sector to public business sector companies. The letter emphasizes the requirement for the bank to obtain prior written approval from the Ministry of Finance before extending any credit facilities to such companies. It requests the Chairman's attention to ensure compliance with the mentioned decision.

The Central Bank's Board of Directors has issued guidelines for banks to follow when dealing with installment sales companies, due to the lack of regulatory oversight over these companies. The guidelines include restrictions on financing in local currency only, maintaining specific loan-to-value ratios, and obtaining audited financial reports from the companies. Banks are also required to include clauses in their contracts with these companies to ensure proper credit analysis and reporting to the Egyptian Credit Bureau.

On September 6th, 2018, the CEO/Chairman of the Central Bank of Egypt addressed concerns about mortgage lending companies not being regulated which may result in increased default rates and higher lending interest rates. As a response, the Central Bank Board issued guidelines on September 15th, 2018, requiring banks to only finance mortgage lenders with local currency. The six directives from March 22nd, 2018 included requiring companies to provide financial reports by certified accountants, and for banks to include mortgage lenders in their credit rating systems. These changes aimed at increasing transparency, reducing risk, and ensuring that the companies have the necessary financial stability.

In August 2018, the Central Bank of Egypt launched an initiative to improve financial inclusion for women-owned or managed small and medium enterprises (SMEs). The bank aimed at creating a comprehensive database comprised of smaller, medium and female owned/managed businesses categorized by their type. To achieve this, it issued a definition for companies owned or managed by women or which operate with the involvement of women, considering the existing Central Bank of Egypt definition for SMEs, as well as implementing the following objectives: 1. Establishing statistical and detailed data on the number of female-owned/managed businesses to allow better monitoring and support; 2. Amending bank account data rules in relation to guarantee companies by updating their regulations periodically for: - Guarantee Companies: The update will occur during their annual review. - Loan and other accounts: Updates will be done up to a maximum of five years. 3. Defining customer data guidelines for banks in accordance with the anti-money laundering regulations issued on April 14, 2011. This should be applied uniformly across all businesses regardless of their size. The Central Bank of Egypt is now urging all banks to comply with these new requirements and definitions for female-owned/managed enterprises or companies."

The Central Bank of Egypt is committed to measuring financial inclusion levels in the country and has decided to build a comprehensive database of micro, small, and medium-sized enterprises (MSMEs). To achieve this, the Bank has issued a unified definition for women-owned or women-managed businesses, taking into account the definition of MSMEs provided by the Bank in March 2017. The Bank's decision includes defining women-owned or women-managed businesses for statistical purposes and accurate data collection, with specific criteria for ownership and management.

The letter, dated July 29, 2018, is addressed to the Chairman of the Board of Directors of a bank in Egypt. It requests the bank to conduct an external quality assurance review of its internal audit function every five years, in line with international standards and best practices. The Central Bank of Egypt must be informed of the name of the reviewing entity and the scope of work, and provided with a copy of the assessment report, including recommendations for corrective actions.

In July 2018, the Central Bank of Egypt commenced a process to enhance the quality and effectiveness of its internal audit functions and focused on implementing best international practices in internal auditing. This initiative was based on the Basel Committee's (BCBS) supervisory framework number 131, which requires each bank to undertake an external assessment of their internal audit function at least once every five years and have this assessed by an external auditor or an internationally recognized firm. The Central Bank of Egypt then underwent the Basel Committee's (BCBS) supervisory framework number 131 implementation process, which assesses internal audit quality, effectiveness, and alignment with international best practices over a period of five years, and requires the identification of improvement areas to improve internal audit activities. Finally, the Central Bank of Egypt has asked banks to take necessary actions to implement this assessment and has committed to issuing a report and implementing an action plan for improvements by October 31, 2018. This is because none of the banks have yet implemented this evaluation within the past two years, and the action plan must be reviewed and endorsed.

In Cairo, June 24, 2018: Dr. Al-Ashtar, Chairman of the Bank of Egypt and the Executive Director of the United Nations Development Programme (UNDP), stressed on the need for banks to ensure that civil society organizations (which employees can donate to) have the license to collect money from the authorities concerned in compliance with the provisions of Law No. 70 for the year 2017, which gives them the right to request approval from the competent authorities. To provide accounts for these organizations through which donations are collected only after obtaining the necessary licenses from the relevant authorities. He stressed on the importance of taking the necessary steps in this matter and requested their highest respect.

In this letter dated June 24, 2018, addressed to the Chairman of the Board of Directors of a bank, the writer emphasizes the requirement for banks to ensure that associations wishing to receive donations from customers have obtained the necessary license for fundraising from the Ministry of Social Solidarity. This is in accordance with the provisions of the law regulating the work of associations and other civil society institutions. The writer further emphasizes that while accounts can be opened for these associations, fundraising through these accounts is only permitted after obtaining the required license from the Ministry.

Cairo, May 22nd, 2018 Honorable Professor/ Chairman of the Board of Bank Al-Falah Regarding that some banks include names of certain associations in their charity lists, without these associations obtaining licenses to collect money contrary to the Charity Organizations Law number 70 for the year 197, I urge you to ensure that the aforementioned associations obtain licenses from the Ministry of Social Solidarity before allowing them to open accounts and collect donations through them. Please take proper action in this matter. Sincerely, Gamal Nageem

On May 22, 2018, a letter was sent to the Chairman of the Board of a bank, urging him to ensure that any associations listed by the bank as eligible recipients of customer donations have obtained the necessary license for fundraising from the Ministry of Social Solidarity. This is in accordance with the Law No. 70 of 2017 regulating the work of associations and other institutions operating in the field of civil work. The letter requests the Chairman to take necessary action in this regard.

In a letter dated May 3, 2018, the Deputy Governor of the Central Bank of Egypt announces several decisions to facilitate import procedures. These include the cancellation of certain instructions regarding import transactions and the elimination of cash collateral for small and medium-sized enterprises importing essential food items. Additionally, the letter mentions a reduction in the percentage of cash collateral for import operations on behalf of traders and government entities, subject to each bank's credit study.

In Cairo on May 3, 2018: The Head/ Chairman of the Board of the Central Bank of Egypt refers to page 12 of his December 21, 2015 book about importing rules and procedures. He would like to clarify that in order to simplify import operations carried out on behalf of banks by sending educational certificates directly to banks abroad for all imported goods, the rule mentioned as item (1) in the above-mentioned book - which states "it is limited to implementing... import operations backed by educational certificates sent directly to banks abroad" - can now be executed through the direct submission of educational certificates to employees. Regarding SMEs and medium enterprises operating in the field of basic food imports (as stated on March 5, 2017), cash guarantees for import operations intended for trade or financing governmental institutions, or increasing the rates imposed on suppliers of these goods for trading purposes or meeting bank obligations, including issuing guarantee letters - specific procedures have been implemented, with a limit of 100% replacing the existing situation. Please be informed about taking the necessary measures to work efficiently. Thank you for your respect and consideration. Sincerely, Gamal Naguim.

Cairo, April 12, 2018 Dear Sir / Chairman of the Board We are delighted to announce that in accordance with the agreement made by the Central Bank and Arab Monetary Fund member banks in September 2015 on dedicating April 27 every year for Small and Medium Enterprises (SMEs) promotion, this year's celebration will last two weeks starting from mid-April till April 27. Some of the activities planned are: A) New accounts can be opened without fees or minimum balance, with a reduction of 50% on annual fees for those already in place by May 31. B) All branch managers will receive training and guidelines to help open new accounts for all citizens. C) Collaborate with the Egyptian Central Bank for media coverage about SME activities through electronic media. D) Send informative text messages to employees of telecommunication companies regarding the bank's initiatives to open new accounts without fees. E) Encourage electronic branch managers to activate and use their terminals. F) Please accept our appreciation for taking this important step, while we appreciate your continued attention to this issue. We also thank you for giving us the opportunity to work on this matter personally. G) With highest regards, Jamal Najm"

In anticipation of the upcoming Arab Financial Inclusion Day, the letter proposes extending the related activities for two weeks starting in mid-April 2018. During this period, banks are encouraged to waive fees and minimum balance requirements for new customer accounts and reduce annual account fees by at least 50%. Banks are also allowed to promote their products outside their branches, especially in remote and marginalized areas, and are asked to coordinate with the Banking Institute to promote financial education initiatives.

This document is a list of questions from banks regarding the deputy governor's letter dated January 28, 2018, regarding the International Financial Reporting Standards (IFRS). The questions cover a range of topics, including the application of IFRS 9, the treatment of financial statements, the calculation of expected credit losses, and the impact on regulatory capital. The document also includes responses to the questions, providing clarifications and guidance on the implementation of IFRS 9.

The Saudi Central Bank (SAMA) has issued a set of regulations to enhance the transparency and financial stability in the banking sector. These guidelines are aligned with the Basel III accords and other international best practices for prudential regulation, which aim to strengthen the resilience of the financial system, particularly during periods of financial stress. Here is an overview of the key measures taken by SAMA: 1. Enhanced Disclosure Requirements: a. Banks shall provide quarterly disclosures in addition to their annual reports, starting from the third quarter of 2023. The central bank will require banks to submit all relevant financial data within ten business days after the end of each quarter. 2. Capital Adequacy Ratio (CAR): a. SAMA has adopted Basel III's minimum CAR requirement, which is 9%, effective from January 1, 2023. The transition to this new standard will be phased in over a period of four years, with banks required to hold an additional 0.5% CET1 capital buffer by December 31, 2024. 3. Supervisory Review Process (SRP): a. SAMA will implement the SRP for large and systemically important banks to ensure they maintain adequate levels of capital and liquidity. This process involves a comprehensive assessment of banks' risk management practices, governance structures, and financial performance. 4. Liquidity Risk Management: a. Banks are required to maintain a minimum liquidity coverage ratio (LCR) of 100%, which is expected to be achieved by December 31, 2024. The LCR measures the adequacy of a bank's high-quality liquid assets to cover its net cash outflows over a 30-day horizon under stress conditions. 5. Stressed and Unstressed Transitional Period: a. Between January 1, 2023, and December 31, 2024, banks will be subject to both the old and new capital adequacy requirements during this transitional period. The weighted average of these two ratios should not fall below 9% throughout this period. b. During this period, banks are required to hold an additional 0.5% CET1 capital buffer by December 204. 6. Enhanced Reporting (EHOR): a. Starting from the third quarter of 203, all financial institutions shall submit their quarterly reports within ten business days after each quarter's end. The SAMA Bank Inspection Program will review and assess these reports based on international best practices for prudential regulation.

In a letter dated March 15, 2018, the author informs the Chairman of the Board of a bank about recent observations of currency export companies offering their services to banks for exporting foreign currency on their behalf. The author emphasizes the importance of seeking prior approval from the Central Bank of Egypt before engaging with money export companies. The letter concludes with a request to adhere strictly to these instructions.

Cairo, March 15, 2018 Mr. Esteemed/ Chairman of the Board of Bank Al-Ahly and Banca Intesa, with reference to the periodic publications regarding the guidelines for exporting foreign currency remittances by banks abroad and the periodic publication dated March 7, 2005, I would like to point out that some exchange companies have started offering their services to banks for exporting foreign currency. In light of this, it is necessary to return to the Central Bank of Egypt before dealing with these exchange companies in order to obtain prior approval. I kindly request your full compliance with what has been previously mentioned and accept my respectful regards, Jamil Najm.

On March 25, 2018, a letter was sent to the Chairman of the Board of Directors of a bank in Cairo, Egypt, regarding a previous initiative by the Central Bank to provide 10 billion Egyptian pounds at a 12% return to medium-sized companies for short-term credit facilities. The letter states that due to the success of the initiative and the exhaustion of the allocated funds, no new funding will be granted as of that date.

Cairo, March 25, 2018: The Governor / Chairman of the Board of Bank of Egypt stated that: In accordance with the published book on March 5, 2017 regarding the Central Bank of Egypt's board decision dated February 28, 2017 to allocate EGP 10 billion through banks at a profit rate of 12% used for short-term facility loans to fund working capital for small and medium enterprises as indicated in the mentioned book. In light of the success of this initiative in achieving its goals and the allocation of the available funds, it is recommended to consider stopping providing new financing under this program starting from the mentioned date.

The letter is addressed to the Chairman of the Board of a bank, and it discusses the implementation of the International Financial Reporting Standards (IFRS 9) in Egypt. The Central Bank of Egypt is committed to ensuring that banks adhere to international best practices in the banking industry, including IFRS 9, to enhance the safety of banks' financial positions and promote transparency. The letter outlines the steps that banks must take to prepare for the implementation of IFRS 9, including forming a committee to oversee the transition, assessing the impact on financial statements, and developing a plan to measure expected credit losses. The Central Bank of Egypt has set a deadline of June 2018 for banks to fully comply with the new standard.

جدول (3) | القيمة باأللف جنيه | قيمة التغير | القيمة الدفترية وفقا | | |--------------------------------------------------------------------------------------------------------------------------------------------------------------|--------------------------------------------|------------------------|------------------------| | القيمة الدفترية وفقا للمعيار (٩) | لقواعد إعداد وتصوير | | | | نتيجة | طبيعة االستثمار | | | | إعادة التبويب / القيا | | | | | س | القوائم المالية | | | | قائمة الدخل الشامل بالقيمة العادلة من خالل | األرباح أوالخسörtئر بالقيمة العادلة من خالل | بالتكلفة المستھلكة | ١) إستثمارات مالية بغر | | ٢) إستثمارات مالية متاحة للبيع ٣) إستثمارات مالية محتفظ بھا حتى تاريخ اإلسѧتحقاق ٤) إستثمارات مالية في شركات تابعة وذات مصلحة مشörtغتركة اإلجمالى (+١ +٢ +٣ ٤) | ض المتأرة | | | | - | | | | | - | | | | | - | | | | | - | * بما يتطابق مع البيانات ذات ال | | | | صلة الواردة من م | | | | | صرفكم في ذات التاريخ. | | | | ١٢"

In Cairo, Egypt on January 9, 2018: The President/Chairman of the Egyptian Social Insurance Authority in the Central Bank of Egypt stated that there are many accounts at some banks where death benefits and pensions are being paid despite their owners' deaths. He emphasized the importance of regularly monitoring these accounts and informing the Social Insurance Authority to cleanse them and avoid duplication of payment without justification. Please take the necessary measures in this regard, and accept my highest regards. Sincerely, Gamal Nagim

On January 9, 2018, a letter was sent to the Chairman of the Board of a bank in Cairo, alerting him to information about bank accounts receiving insurance benefits and pensions despite the account holders being deceased. The letter emphasizes the importance of monitoring these accounts regularly and notifying the Social Insurance Authority to prevent further unauthorized additions of benefits. The recipient is requested to take the necessary action in this matter.

In a letter dated January 3, 2018, the Central Bank of Egypt announces initiatives to encourage financing for micro, small, and medium-sized enterprises, including requiring banks to allocate 20% of their credit portfolios to these businesses by 2020. To mitigate credit risks, especially for projects lacking sufficient guarantees, the Bank approved a 2 billion Egyptian pound guarantee to Credit Guarantee Company (CGC) in exchange for CGC issuing guarantees to banks for SME financing. The letter also outlines regulatory instructions regarding minimum capital adequacy standards and credit risk mitigation, with banks in Egypt required to comply from the end of December 2017.

In December 2017, the Central Bank of Egypt's board approved guidelines to ensure small and medium-sized enterprises have access to credit guarantees. This involved allocating 20% of banks' guarantee funds for this purpose. The bank also issued a $2 billion bond to a credit guarantee company in return for its companies issuing guarantees to the banks for part of their risks relating to financing small and medium-sized enterprises. These measures were established to address regulatory caps on the minimum acceptable capital ratio as per guidelines released in 2012 regarding credit guarantees, as well as guidelines issued by the Egyptian Central Bank board in May 2005 concerning the calculation of the required capital.

Cairo, on December 28, 2017: The head of the Egyptian Red Sea Governorates' Union and the President of the Red Sea Governorates' Chamber of Commerce, Rashad Abdel Hafez, announced on December 23, 2016, the start of the first phase of the SSI (Safe Sailing Initiative) campaign for one year period, ending in December 2018. The second phase will end by 2018 to allow those working in the tourism sector to benefit from the initiative, while the third phase will be extended by six months starting from September 30, 2017, following the agreement of the Ports Authority. Rashad Abdel Hafez also confirmed that the first phase aims at reducing accidents and fatalities on the Red Sea shores, which saw a significant decrease in accidents after the implementation of the initiative since December 24, 2005. He added that there are plans to extend the operation hours for some maritime ports until 7:00 am every day starting from July 1, 2015. The Governor of Red Sea province, Major General Ahmed Abdallah, praised the remarkable achievement in terms of reducing accidents and fatalities on the beaches after the implementation of the SSI initiative, which has been implemented since December 24, 2005 under the directive of former President Hosni Mubarak.

The letter, dated December 28, 2017, announces an extension of the "Support for Central Bank Initiatives" program until the end of December 2018, with a maximum period of three years for banks to repay their debts. It also extends the "Mortgage Initiative for Real Estate Workers" for one year, ending in 2018, with a grace period of six additional months for those who benefit from the initiative.

In a letter dated November 28, 2017, the author informs the Chairman of the Board of a bank in Egypt about a decision to revert to the previous limits on foreign currency imbalances for banks operating in the country. The new limits are set at 10% for individual currencies and 20% for the total surplus or deficit in foreign or local currencies, effective December 1, 2017. The letter also emphasizes the need for banks to comply with these limits at the end of each business day and provides additional instructions related to the management of currency positions.

In a letter dated November 28, 2017, the Governor of the Central Bank of Egypt, Tarek Amer, informed the Chairman of the Board of Directors of a decision to lift the previously imposed maximum deposit and withdrawal limits for legal entities engaged in the import of non-essential goods. The limits were set at $10,000 per day for deposits and $50,000 per month, with a withdrawal limit of $30,000. The letter requests that the necessary actions be taken to implement this change effective immediately.

The Central Bank of Egypt announced on November 28, 2017 that it would suspend the application of the maximum limits for imports of non-essential goods. The Governor of the Central Bank specifically mentioned the suspension of the provisions in Article 3 with reference to the Bank's Decree No. 3, November 2016. He also requested that this decision be noted and appreciated as an exceptional measure.

On November 28, 2017, the Governor of the Central Bank of Egypt, Hisham Ramez, issued a notice stating that banks operating in Egypt must comply with the Basel III standards by December 31, 2017. These rules included: - A cap on the combined foreign and local currency profits or losses of foreign branches at 10% of shareholder funds. - A cap on overall foreign and local currency profits or losses at 20% of shareholder funds. - Domestic branches must also adhere to a 10% cap on profits or losses. These measures came into effect from the first day of December 2017 and were applied daily, with the aim of preventing banks from exceeding the specified caps in relation to shareholder funds. The Basel III standards were implemented globally following the financial crisis in 2008 to strengthen the banking sector and reduce the risk of future crises.

In a letter dated April 14, 2013, the bank's chairman outlined several regulations that must be followed when endorsing import documents, including a requirement for the importer to provide the bank with a copy of the customs declaration form, stamped and signed by the customs officer executing the transaction. A subsequent letter dated August 30, 2017, emphasized the need for both paper and electronic submissions of these declarations and requested that the previous requirement be amended to reflect this. The bank requests that the necessary actions be taken to ensure compliance with these updated requirements.

In Cairo: The Chairman and CEO of Bank of Alexandria, Dr. Hisham Okasha, referred to his book dated April 14, 2013 which details the rules for compliance with Article (2), explaining how a foreign exchange company was fined $4 million for failing to report transactions related to importing goods. He also mentioned a penalty of over $4 million in cash imposed on another financial institution due to delayed reporting as per International Monetary Fund regulations, stressing that compliance is mandatory. The Bank appreciates the cooperation and respect shown by its customers and urges all stakeholders to strictly adhere to these guidelines. -Jamal Nageh

In an effort to facilitate access to bank financing for small and medium-sized businesses, the Central Bank of Egypt has issued several initiatives offering reduced interest rates on credit facilities. However, there have been discrepancies in the implementation of these initiatives by banks, with some waiving commissions and expenses for clients, while others have not. To address this, the bank has decided that the announced interest rates for these initiatives are final and inclusive of all commissions and expenses, except for commercial mortgage expenses and applicable taxes and stamps as per prevailing laws. This decision is effective immediately.

The Central Bank of Egypt has outlined measures to expand lending opportunities for small and medium-sized enterprises (SMEs) by reducing interest rates. These new policies, which took effect from November 1, 2021, include offering loans at a lower rate of 5% and a further 66% in February, targeting SMEs in industries such as manufacturing, agriculture, and renewable/alternative energy. This will facilitate financing for working capital for SMEs in these sectors with a reduced interest rate of 16%. In addition, the Central Bank has decided to continue implementing previous measures to ensure that banks pass on savings from lower interbank rates to borrowers, exempting employees from some fees and charges. The Central Bank's goal is to maximize benefits for SMEs, ensuring that interest rates are set at a fixed rate for each program without any increase. This includes loan fees excluding service charges, business bank account fees, tax, and penalties as per the law. These measures will go into effect from November 1st." The original text has been condensed into this concise summary: The Central Bank of Egypt is providing more lending opportunities for small and medium-sized enterprises (SMEs) at lower interest rates to facilitate financing. They plan on ensuring banks pass on savings from lower interbank rates by exempting employees from some fees and charges, and have fixed interest rates without any increase, targeting manufacturing, agriculture, and renewable/alternative energy industries. Measures will go into effect starting November 1st.

In a letter dated October 8, 2017, the Central Bank of Egypt's Board of Directors announces its decision to increase the allocation for the mortgage finance initiative for low- and middle-income individuals to 20 billion Egyptian pounds. The letter also mentions an exception from the maximum income requirement for injured individuals and the families of martyrs from the army and police applying for housing units in social housing projects. Banks are instructed to apply this exception to files received from the Mortgage Finance Fund.

In October 2017, the Central Bank of Egypt held a board meeting, in which they decided: 1. To increase the allocated budget for housing finance for low-income and middle-class households to EGP 20 billion, up from EGP 10 billion. This increase includes removing income limitations for housing loan applicants. 2. To exclude military personnel and their families (up to second degree) from the housing loans' income limit requirement. Banks were also instructed to apply these exemptions in the second clause of this decision to the applications submitted by the Housing Finance Fund.

جمال نجم writes to inform the addressee that the required reserve ratio for banks in Egypt has been increased from 10% to 14% as of October 1, 2072, due to improvements in Egyptian economic indicators. The decision will be implemented starting from the reserve ratio period that begins on October 1, 2072, and will be calculated based on the average balances from September 7, 2072. Previous decisions made by the Egyptian Central Bank's Board of Directors remain in effect.

In a letter dated October 3, 2027, addressed to the Chairman of the Board of Directors of a bank, the writer, Jamal Najem, communicates a decision to increase the reserve ratio that banks must maintain with the Central Bank of Egypt from 10% to 14%. This decision is effective starting the reserve ratio period that begins on October 10, 2027, and is calculated based on the average balances from September 7, 2027, onwards. The letter also mentions that previous decisions made by the Board of Directors of the Central Bank of Egypt on this matter remain in force.

The letter, dated August 30, 2017, is addressed to the Chairman of the Board of Directors of a bank in Cairo, Egypt. It refers to previous correspondence regarding the requirement for banks to ensure that the value of imports exceeding a certain amount in US dollars is paid in Egyptian pounds through the Central Bank of Egypt. It also mentions the transition from paper-based to electronic import financing forms and the need to comply with the Ministry of Industry and Trade's decision to implement this change within three months. The letter emphasizes the approaching deadline of September 30, 2017, and requests the bank to stop issuing the paper form and only issue the electronic version, providing a printed copy to customers. It also highlights the importance of adhering to the new automated system and provides contact details for any technical issues.

The letter, dated August 30, 2017, is addressed to the Chairman of the Board of Directors of a bank in Cairo, Egypt. It refers to previous correspondence regarding the requirement for banks to ensure that payments for imports exceeding a certain value are made in foreign currency, preferably US dollars. The letter also mentions the transition from paper-based to electronic import financing forms and the need for banks to comply with this change. It emphasizes that the grace period for this transition will end soon, and banks should stop issuing the paper form and solely issue the electronic version, providing clients with a printed copy stamped by the bank. The letter concludes by highlighting the importance of adhering to these instructions and taking the necessary measures to ensure compliance.

On May 25, 2017, a letter was sent to the Chairman of the Board of Directors, expressing gratitude for the recipient's efforts and contributions to various projects and initiatives. The letter also mentions the importance of adhering to laws and regulations, as well as the need for transparency and good governance. Finally, the sender expresses their hope that the recipient will continue to support and guide their endeavors.

Cairo, May 25, 2017 - The Minister of Tourism Khaled Al-Anany addressed the 34th African and Middle Eastern Travel Association conference. He expressed his gratitude to E-Dial Company for the partnership in organizing the International Coalition to Combat Illegal Wildlife Trade (ICCWCIT) on July 23, 2011, and thanked the US and Kenyan governments, as well as various international organizations like CIWEC, WWF, INTERPOL, IUCN, and UNEP for their cooperation in combating wildlife crimes. He also highlighted that Egypt has never exported a live elephant to any foreign country, and urged everyone to show high respect towards this issue.

Below is the table of the translation you have requested: | | Arabic Text | English Translation | |-----------------|-----------------------------------------------------------------------|--------------------------------------------------------------------------------------------------------------------------| | | النسب في التكاليف على الخدمات الأساسية | The percentage of costs on basic services | | | بالرغم ماذا هذه النسب؟ | Despite what is this percentage? | | | هذه تكلفة مزود الطاقة والمياه. | This is the cost of the power and water supplier. | | | من أجل الحفاظ على ستة مئوية لكل خدمة أكثر من ١٠٪ | In order to maintain a service level of at least 10% for each service above 10% | | | اذا توفر الشركة خدمات غير الأساسية؟ | If the company provides additional services? | | | بالرغم ما هذه النسب على الخدمات الإضافية؟ | Despite what is this percentage on additional services? | | | عامة جمعية من الشركاء. | A general community of shareholders. | | | أحدث تحديث فى السعر الخاص بالشركة | The latest update on the company's specific rate | *The percentage of costs on basic services, despite what is this percentage and whether the company provides additional services, and if so, what is their role in setting service levels? Also, do shareholders have a say in how these rates are determined and can they influence them?* تم رفع الحد اإليً **االحترام**" وتفضلوا بقول **جـمال نـجم** إنه حرة كثيرة لتشيد تفضلوا بقول جـمال **نـجم**" إن أخب "تم رفع الحد اإليً **االحترام**" تسل جـمال نـجم" Below is a table that includes the percentages and their descriptions: | | Arabic Text | English Translation | |-----------------|---------------------------------------------------|--------------------------------------------------------------------| | | من أجل من الكليات الأسائية. | The percentage of costs on basic services. | | | | | | | بالرغم ماذا هذه النسب؟ | Despite what is this percentage? | | | من أجل من الخدمات الإضافية؟ | Despite what is this percentage on additional services? | | | عامة **جمعية من الشركاء**." | A general community of shareholders. | | | أخب "**تم رفع الحد اإليً **االحترام**" | The latest update on the company's specific rate. | |-----------------|-------------------------------------------------------------------|-----------------------------------------------------------------------------------------------------|

In a letter dated June 22, 2017, the Central Bank of Egypt's Executive Management decided to modify the maximum income limit for the low-income bracket to improve the initiative's outcomes and accommodate more beneficiaries. The changes include an increase in the maximum monthly income for the low-income bracket from EGP 1,400 to EGP 2,100 and an increase in the maximum monthly income for the middle-income bracket from EGP 8,000 to EGP 10,000 for singles and from EGP 14,000 for families.

The letter, dated July 12, 2017, is addressed to the Chairman of the Board of Directors of a bank in Cairo, Egypt. It refers to the Egyptian Central Bank's initiative of January 11, 2016, which aims to encourage banks to finance small and medium-sized enterprises by offering low-interest credit facilities and mandating that 20% of banks' credit portfolios be allocated to these businesses. The letter also mentions subsequent initiatives that modified the definition of small and medium-sized enterprises and added microfinance to the 20% allocation. Due to the importance of the agricultural sector to the Egyptian economy and the fact that most companies in this sector have a turnover of less than one million Egyptian pounds, the Central Bank of Egypt has decided to reduce the minimum turnover requirement for small businesses in this sector to 250,000 Egyptian pounds, allowing them to access credit facilities at a reduced interest rate of 5%.

In light of Egypt's economy and the government's focus on supporting its agricultural sector, the Central Bank of Egypt (CBE) has decided to reduce the minimum operating scale for small-to-medium enterprises (SMEs) in the agriculture and agro-industrial sectors, as well as in fish farming, animal husbandry, dairy production, and beekeeping (whether breeding or rearing). The board of directors of the Central Bank convened an extraordinary meeting on July 12, 2017 to reduce the minimum operating scale for these companies from millions of Egyptian pounds to 250,000 Egyptian pounds ($14,600), and in some cases up to half a million Egyptian pounds. This decision is aimed at **encouraging** the entry of more small-to-medium enterprises into these sectors, thus contributing to achieving sustainable development goals. Furthermore, in light of these efforts, the CBE has also decided to reduce the minimum capital required for SMEs operating in the agriculture and agro-industrial sectors, as well as in fish farming, animal husbandry, dairy production, and beekeeping (whether breeding or rearing) from millions of Egyptian pounds to 250,000 Egyptian pounds ($14,600), and in some cases up to half a million Egyptian pounds. This decision aims to **enable** these SMEs to borrow at low interest rates under the guidance of the CBE's Small and Medium-sized Enterprises Development Fund. To this end, on July 12, 2017, the Board of Directors of the Central Bank decided to reduce the minimum operating scale required for these companies from millions of Egyptian pounds to 250,000 Egyptian pounds ($14,600), and in some cases up to half a million Egyptian pounds. This decision aims to encourage the entry of more small-to-medium enterprises into these sectors, thus contributing to achieving sustainable development goals. Additionally, the Central Bank decided to reduce the minimum capital required for SMEs operating in the agriculture and agro-industrial sectors, as well as in fish farming, animal husbandry, dairy production, and beekeeping (whether breeding or rearing) from millions of Egyptian pounds to 250,000 Egyptian pounds ($14,600), and in some cases up to half a million Egyptian pounds. This decision aims to enable these SMEs to borrow at low interest rates under the guidance of the CBE's Small and Medium-sized Enterprises Development Fund.

In a letter dated July 2, 2017, addressed to the Chairman of the Board of Directors of a bank in Cairo, the writer refers to a previous letter dated June 5, 2017, which enclosed a ministerial decision regarding the mandatory payment of import duties exceeding $2,000 or its equivalent in foreign currency through recognized means of payment. The writer informs that the aforementioned ministerial decision has a grace period of three months from the date of the decision's issuance for implementation. The recipient is requested to take note of this grace period when applying the decision.

In Cairo, July 2nd, 2017, the Governor of the Central Bank of Egypt announced the connection of my historical book from June 5th, 2017, and its attached document, Minister of Finance Amr El-Garhy's Decision No. 835 for the fiscal year 2017 regarding the full commitment to settle exports exceeding $100 million or their equivalent in foreign currencies through one of the accepted payment methods. This ministerial decision aims to provide a period of grace of up to three months from the date of the decision to allow businesses time to adapt to the new measures. I would like to emphasize that adopting these measures will require a certain adaptation period, and I ask for your understanding and respect. Sincerely, Gamal Nageh

In a letter dated June 22, 2017, the Central Bank of Egypt announces an extension of the retail loans initiative for workers in the tourism sector until the end of December 2017. During this period, banks are allowed to postpone loan maturities for regular customers in the tourism sector for up to six months without charging late interest. The letter also mentions that customers who have previously benefited from the initiative can still request a postponement of their loan maturities.

In June 2017, the Central Bank of Egypt announced a plan to help tourism and employees affected by the recent terror attacks. The bank decided to extend loan installments for tourism workers until December 2017, allowing banks to postpone worker loan payments for non-priority loans and mortgages as of March 2017 - only for those employees in the tourism sector who were directly affected by the situation. In addition, it was decided to extend some of the loans' deadlines, while also allowing companies to renegotiate terms on installment payments that began from their initial issuance in December 2015 and received high interest rates. The plan was based on the belief that supporting tourism and its employees would improve the Egyptian economy and help attract foreign investments.

In a letter dated June 14, 2017, the Chairman of the Board of Directors of a bank in Cairo, Egypt, writes to inform the recipient of a decision made by the Egyptian Central Bank to remove the cap on the amount of money that banks can transfer abroad for their clients, which was previously set at $100,000 per client per year. This change is intended to support and facilitate banking transactions and meet the needs of customers, while still adhering to the Central Bank's instructions on customer identification rules. The letter concludes with respectful regards from Tarek Amer.

In Cairo, during the June 14th, 2017 event of Banking on Friendship: I would like to refer to the Central Bank of Egypt's annual report dated January 6, 2014 regarding the upper limit allowed for banks to execute their customers' requests to convert up to $100,000 once per year. Considering that the Central Bank of Egypt continues its efforts to support and guide banking practices to meet customer needs, it has decided to allow banks to execute their clients' requests to convert without any upper limit starting from a specified date, while taking into consideration: - The guidelines provided by the Central Bank regarding customer verification in banks. I greatly appreciate your attention, Tarek Amer.

In Cairo, June 2017: The Governor of the Central Bank and Chairman of the Board of Directors welcomed everyone. He mentioned the establishment of "the National Payment Council" by Presidential Decree No. 89 for 2017 with the aim to reduce cash transactions outside the banking sector, promote electronic payment methods, develop national payment systems, and establish proper oversight mechanisms to minimize related risks and create a safe, efficient, and reliable system. He also highlighted reducing personal financial costs for mobile payment services for one year from their launch date, decreasing the fees for mobile payments by 50% over a six-month period starting from their launch date, and urged everyone to adhere to these measures accordingly.

In reference to the Egyptian President's decision to establish the "National Payments Council," a letter dated June 7, 2017, informs the Chairman of the Board of a bank of the council's objectives. These include reducing cash usage outside the banking sector, promoting electronic payment methods, and enhancing the security and efficiency of national payment systems. The letter also communicates the council's decision to waive fees for citizens opening mobile payment accounts for one year and reduce mobile payment service fees by 50% for six months.

The document outlines the Egyptian Central Bank's decision to identify and regulate banks that are systemically important at the local level. This decision is in line with international practices and aims to mitigate potential risks and enhance the stability of the financial system. The Central Bank will use specific criteria to identify these banks and impose additional capital requirements to reduce the likelihood and impact of their failure.

The data is already presented in the form of weighted indices for four main indicators. These include the bank's overall rating, the deposit money ratio, lending interest rates, and loan interest rates. Here is the breakdown of these indices as mentioned in the provided table: | Weight | Index | | |--------|----------------------|--------------------------| | | Bank Overall Rating | | | | Deposit Money Ratio | | | | Lending Interest Rate | | | | Loan Interest Rate | | The deposit money ratio is at a low weight of 20%, while lending and loan interest rates each have a weight of 40%. The overall bank rating has the highest weight of 25%. There are also secondary, equally weighted indices for each of these main indicators. Here is the table illustrating this: | Weight | Secondary Index | | |--------|----------------------------|--------------------------| | | Deposit Money Subindex | | | | Lending Interest Rate Sub | | | | Loan Interest Rate Sub | | | | Bank's Capital Adequacy Ratio | | The weighted average of these sub-indices for the overall bank rating is not directly provided in the table. However, you can calculate it using the following formula: ``` Weighted Average = (Subindex Value / Total Values) * (Total Values / SubIndex Minimum Value) أ- حساب قيمة الفرعي قيمة الفرعي = قيمة الفرعي للبنك قيمة المؤشر إجمالي ب- حساب متوسط بأس ج- حساب متوسط محدد للمؤشر الرئي"

The following is a translation of the Egyptian Minister of Trade and Industry's decision number 798 for 2021 regarding export control procedures and amendments: **Ministry of Trade and Industry Decision No. (798) for the Year 2021 Regarding Export Control Procedures and Amendments** Based on the powers vested in me by Article 5 of Law Number (43) for the Year 2017, which regulates export procedures, I decided to take the following measures: 1. If there is a delay in attendance or failure to attend an appointment set by the competent authority to inspect goods or documents related to exports, the exporter must request an inspection within two business days of the deadline for issuing the inspection certificate. 2. The competent authority will issue inspection certificates within three working days upon receipt of the importer's application accompanied by the required documents and fees specified in this decision or the regulations issued under it. If there are any problems that prevent obtaining the inspection certificate within the stipulated period, the competent authority must report them to the General Directorate of Customs Administration. 3. The competent authority shall notify the exporter by sending a copy of the inspection report via e-mail or registered mail if the goods are inspected and found in accordance with the customs requirements and the necessary procedures have been taken within the stipulated periods. If the goods are found to be inconsistent with the provisions of the decision, the competent authority must request the importer to provide a new inspection report and a new shipping document. 4. The exporter shall be informed of the final result by the competent authority through electronic or registered mail, whereupon the exporter must take the necessary measures in accordance with Article 10 of this decision within five working days. 5. Amendment (المa)) **Minister of Trade and Industry Number (798) for the year 20X** - - - **Secondly, any amendments to the Trade Decision shall be effective from the following measures:** - **Firstly,** - **Secondly,** - **Secondly,** - **The competent authority will issue inspection certificates within three working days. - **If there is a delay or absence of the relevant procedures during the period specified by Article 798 of this decision, the exporter must request an inspection certificate within five business days from the date of issuance of the inspection certificate. - **In cases where the competent authority is unable to issue the inspection certification within three working days as specified by Article 798 of this decision, the competent authority may, without prejudice:** - **Take the necessary measures in accordance with the requirements and procedures stipulated by this decision.** **المa,** - - - - - **Thirdly,** - **Amendments to Articles (1) and (10)** - **Any amendments made to the Trade Decision shall be effective from the following date of issuance of this decision.** ## Secondly, - **Secondly,** - **If there is a delay or absence of the relevant procedures during the period specified by Article 798 of this decision, the exporter must request an inspection certificate within five business days from the date of issuance of the inspection certificate.** ## Thirdly, - **Amendments to Articles (4) and (5)** ## Secondly, - **If there is a delay in attendance or absence of the relevant procedures during the period specified by Article 798 of this decision, the exporter must request an inspection certificate within five business days from the date of issuance of this decision.**

The letter is addressed to the Chairman of the Board of Directors of a bank, informing him of a decision to amend certain provisions of the regulations governing the implementation of the Import and Export Law. The amendment concerns the payment of imports exceeding $2,000 or its equivalent in foreign currency, which must be made through banks operating in Egypt. The letter also mentions the procedures for settling the value of imports and the role of the General Organization for Export and Import Control in providing the Customs Authority with data on registered importers and restricted commodity groups.

The letter, dated May 23, 2017, is addressed to the Chairman of the Board of Directors of a bank in Egypt. It refers to the Central Bank of Egypt's initiative to encourage banks to finance small and medium-sized enterprises, including a requirement for banks to allocate 20% of their credit portfolio to these businesses within four years. The letter also mentions separate discussions on microfinance. It outlines a decision by the Central Bank of Egypt's Board of Directors, made at a meeting on February 28, 2017, regarding microfinance for individuals, companies, and institutions. The decision includes guidelines for banks when providing microfinance and the inclusion of microfinance in the 20% allocation for small and medium-sized enterprises. The letter concludes with attached guidelines for banks to use when conducting credit studies for microfinance.

Below are the details for each category. **Category A: (Less than 5% of banks) - Less stringent measures, less capital required** | Measure Level | Category A Details | Additional Information | |---------------|-----------------------------------------------------------------|---------------------------------------| | أقل من | (Less than 7 days) The stressed banks' segment is considered more vulnerable. | Stressed banks must hold additional capital. | | | | 30 days of capital buffer | | | Less stringent measures, less capital required | | | | Capital adequacy ratio may be higher, reflecting more risk-taking capacity.| | **Category B: (Between 5% and 25% of banks) - More stringent measures, more capital required** | Measure Level | Category B Details | Additional Information | |---------------|-----------------------------------------------------------------------------|---------------------------------------| | ١٠ أمريكي | (Between 7 and 30 days) The stressed banks' segment is considered more vulnerable. | Stressed banks must hold additional capital. | | | | 60 days of capital buffer | **Category C: (Between 25% and 50% of banks) - More stringent measures, significantly more capital required** | Measure Level | Category C Details | Additional Information | |---------------|---------------------------------------------------------------------------------------------|---------------------------------------| | ١٠ أمريكي | (Between 30 and 90 days) The stressed banks' segment is considered more vulnerable. | Stressed banks must hold additional capital. | | | | 120 days of capital buffer | **Category D: (Above 50% of banks) - More stringent measures, much more capital required** | Measure Level | Category D Details | Additional Information | |---------------|---------------------------------------------------------------------------------------------|---------------------------------------| | %100 | (Above 90 days) The stressed banks' segment is considered more vulnerable. | Stressed banks must hold additional capital. | | | | Limit for bank-specific capital buffers | **Category E: Systemically important financial institutions** | Measure Level | Category E Details | Additional Information | |---------------|---------------------------------------------------------------------------------------------|---------------------------------------| | (less than 10%) | The stressed banks' segment is considered more vulnerable. | Stressed banks must hold additional capital and follow the guidelines provided by the Central Bank of the respective country. Additionally, there are some institutions that are deemed as systemically important financial institutions which require them to follow stricter measures with even higher levels of capital buffers. Remember, each category has its own rules and requirements. It's also worth mentioning that this framework is flexible, so depending on the circumstances at that time, the details within each category could potentially be subject to change.

Cairo, May 7, 2017 Dear Sir/Chairman of the Board of Bank I would like to refer to the instructions dating back to 2003 regarding the challenges faced by the licensed payment institutions and what follows: - They are not allowed to determine exchange rates for buying and selling foreign currencies. - All licensed payment institutions must adhere to an agreement with at least one of the authorized foreign banks, with a clear statement to their employees that the announced rates are those set by the authorized bank with which they have agreed. Given this, I would like to emphasize our cooperation with your banks in applying these instructions for the seven licensed payment institutions. We request your understanding of the contracts between your banks and the payment institutions on this matter. Please note that a grace period of three months will be given to both the licensed payment institutions and the banks to comply with what has been stated. We would appreciate your cooperation in high **esteem** Sincerely, Jamal Najim

In a letter dated May 7, 2017, the author informs the Chairman of the Board of a bank about the regulations in place since 2003 regarding exchange rates for foreign currencies at money exchange companies. The letter states that these companies are not allowed to set their own buy and sell rates and must instead agree to use the rates of an approved bank. To prevent money exchange companies from concentrating their transactions with a limited number of banks, it has been decided that no bank should have agreements with more than seven money exchange companies in this regard. The bank is requested to provide copies of their agreements with money exchange companies, and a three-month period is granted for compliance with these instructions.

The goal of financial literacy and education is to improve the overall economic well-being of a society by equipping individuals with the knowledge, skills, and abilities needed to make informed decisions about their personal finances. This includes promoting responsible borrowing and saving habits, reducing excessive debt, minimizing unnecessary financial costs, and respecting individual financial rights and responsibilities. Financial literacy and education play an important role in empowering citizens to take control of their economic lives and contribute positively to the national economy. They provide individuals with the tools they need to understand and navigate the complex world of finance, including budgeting, saving, investing, borrowing, insurance, and retirement planning. By enhancing financial literacy and education, societies can promote more inclusive economic growth, reduce income inequality, increase individual financial resilience, and foster a culture of entrepreneurship and innovation. Additionally, it helps to ensure that individuals are better equipped to manage financial shocks, such as job loss or unexpected expenses, without falling into poverty or indebtedness. The primary objectives of promoting financial literacy and education are: 1. To improve the overall level of financial knowledge and understanding within a society, ensuring that individuals are well-informed about their personal finances. 2. To equip individuals with the skills needed to manage their finances effectively, enabling them to make sound financial decisions that support their long-term financial goals. 3. To encourage responsible borrowing and saving habits, minimizing the risk of individuals falling into debt traps or facing financial hardship. 4. To reduce unnecessary financial costs, such as high-interest rates on loans or fees associated with financial products and services. 5. To ensure that individuals understand their rights and responsibilities when it comes to personal finance, fostering a culture of accountability and integrity in financial matters. 6. To equip small businesses and entrepreneurs with the knowledge and skills needed to manage their finances effectively, supporting economic growth and job creation. 7. To promote financial inclusion by ensuring that all individuals have access to affordable financial products and services, regardless of their income level or social status. 8. To enhance consumer protection by providing individuals with the information they need to make informed decisions about financial products and services. 9. To support government efforts to achieve economic stability and growth through the development and implementation of sound fiscal policies.

The letter, dated April 6, 2017, is addressed to the Chairman of the Board of Directors and discusses efforts to promote financial inclusion in Egypt. It mentions the establishment of a central department within the Central Bank of Egypt to improve financial inclusion and requests the participation of all banks in the banking sector, especially regarding data collection. The letter outlines proposed activities by banks from April 27, 2017, for a week, including allowing banks to operate outside their branches and offering suitable banking products to underserved segments. It also emphasizes the importance of customer protection and financial literacy in enhancing financial inclusion.

The Governor of the Bank of Alexandria, Dr. Hisham Okasha, emphasized that banks should focus on small and medium enterprises (SMEs) through their loans by paying a simple net interest rate. This involves using excess reserves to grant short-term working capital loans at an interest rate of 12%, which can be used for providing working capital financing for SMEs operating in the industrial, manufacturing, agricultural, renewable energy, and modern sectors only, with special care given to exporting or importing companies. The Governor also said that banks should offset their loan portfolio by reducing their excess reserves using a simplified net interest rate, which includes the highest margin for deposits (currently 8%). He added that compliance with regulations is critical and the data provided must be accurate according to central bank requirements. In addition, he urged the acceptance of "high esteem" for the country's banking sector.

The letter discusses three initiatives by the Central Bank of Egypt to support the tourism and hospitality industry and small and medium-sized enterprises. The initiatives offer a total of 15 billion Egyptian pounds in funding at reduced interest rates of 10% and 12%. The letter outlines the mechanism for compensating banks for the difference in interest rates and emphasizes that the applied interest rates are simple and decreasing, including a commission on the highest debit balance. Compliance with the initiatives' framework will be monitored, and any non-compliance will result in deductions from the banks' balances at the central bank.

Dear Director/Chairman of the Board of the Central Bank... I would like to refer to the decisions issued by the Central Bank of Egypt on November 3, 2016 regarding exchange rates and pricing systems. I kindly request you to comply with the instructions given by His Excellency the Prime Minister, which mandates that your banks must inform the Central Bank before trading foreign currencies for any government authorities (economic institutions, private companies and their contractors and suppliers), without a minimum limit. It is essential that you adhere to these decisions starting from the specified date and kindly accept my deepest respects, Taher Amir

The letter, addressed to the Chairman of the Board of Directors of a bank, refers to the decisions made by the Central Bank of Egypt on November 3, 2016, regarding the liberalization of the Egyptian pound's exchange rate and the pricing mechanism based on supply and demand. It instructs the bank to notify the Central Bank before providing foreign currency to any governmental entity, including public economic authorities, public sector businesses, and their contractors and suppliers, with no minimum amount threshold. The letter emphasizes the importance of adhering to these instructions.

In a letter dated March 5, 2017, the Central Bank of Egypt announces amendments to its initiatives launched in 2015-2016 to encourage banks to finance small and medium-sized enterprises (SMEs). These amendments include a revised definition of SMEs, allowing banks to finance micro and small enterprises without audited financial statements for up to two years, and adding the new and renewable energy sector to the medium-sized enterprise initiative. The letter also mentions adjustments to the maximum limit for individual beneficiaries and the provision of EGP 10 billion in short-term credit facilities for medium-sized enterprises in the industrial, agro-industrial, and new and renewable energy sectors.

The Central Bank of Egypt has issued a new directive for banks, companies, and small and medium-sized enterprises (SMEs) to help them cope with the repercussions of the Coronavirus pandemic. Here is an overview of the most important aspects: ### Firstly, for individuals: 1. The Central Bank has decided to reduce interest rates on personal loans and mortgages. For more information, please refer to the instructions issued by your bank. 2. Individuals with loans will be allowed a 6-month postponement of their installments without any additional fees. 3. The maximum monthly installment for consumers' financing has been reduced from EGP 500 to EGP 100. This includes personal loans, housing, vehicles, and consumer goods financing. 4. A grace period of up to six months will be applied on the credit card debts due before March 2020 without applying any finance charges during this period. ### Secondly, for banks, companies, and SMEs: 1. The Central Bank has decided to increase the minimum reserve ratio for banks from 8% to 9%. This aims to ensure that banks have sufficient liquidity to meet their commitments, especially in light of the expected rise in demand for financing due to the negative impact of the Coronavirus pandemic. 2. Banks are urged to allocate up to 20% of their total assets to finance companies and SMEs that operate in sectors affected by the virus outbreak, such as industry, agriculture, and energy. 3. Banks are also encouraged to restructure loans for SMEs and small businesses. Loan rescheduling will be allowed for a period not exceeding two years without applying additional fees or interests. 4. Banks are urged to allocate 20% of their total financing portfolio towards SMEs that operate in industries affected by the Coronavirus outbreak. ### Thirdly, for companies and SMEs: 1. The Central Bank has decided to increase the limit on the number of employees allowed to take a leave without pay from 20 to 60 days. This is to ensure that businesses can continue operating smoothly despite the expected decline in demand during this period. 2. Companies and SMEs are urged to adopt work-from-home policies where applicable. 3. The Central Bank has also decided to provide additional liquidity support to companies and SMEs through the purchase of their short-term papers at a discounted price. This is aimed at helping them overcome any temporary cash flow difficulties they may be facing due to the impact of the virus outbreak on their operations. 4. Companies and SMEs are urged to review their supply chains and identify potential risks associated with their suppliers and customers. They should also take appropriate measures to mitigate these risks. 5. The Central Bank has also decided to extend the deadline for submitting financial statements from April 30, 2020, to September 30, 2020. This is aimed at providing companies and SMEs with more time to prepare their financial statements in light of the challenges posed by the Coronavirus pandemic. 6. The Central Bank has also decided to extend the deadline for submitting financial statements from April 30, 2020, to September 30, 2020. This is aimed at providing companies and SMEs with more time to prepare their financial statements in light of the challenges posed by the Coronavirus pandemic. 7. Companies and SMEs are urged to develop contingency plans to deal with potential disruptions to their operations caused by the virus outbreak. These plans should include measures such as teleworking, remote meetings, and other necessary steps.

In a letter dated March 1, 2017, the Deputy Governor of the Central Bank of Egypt, Mr. Gamal Negm, addresses the Chairman of the Board of Directors of a bank regarding the meeting held on February 20, 2017, with the heads of banks and representatives of the Investors' Union present to discuss the status of temporary facilities granted to some clients in foreign currencies. The letter mentions that most of the companies with temporary facilities fall within a specific sales/business volume and owe less than a certain amount. The Central Bank proposes issuing guidelines for banks to study each company's case individually and make appropriate decisions, including allowing banks not to classify non-cooperative clients as non-performing and granting them a grace period.

First, it is essential to note that the Egyptian government has taken several measures to protect and support its banks and their clients during this challenging period. Some of these measures include: 1. The Central Bank of Egypt (CBE) injected liquidity into the banking system, offering loans at a 2% interest rate and allowing banks to refinance their short-term debts. 2. The CBE has allowed banks to extend credit facilities for individuals affected by the Coronavirus pandemic. 3. Banks are required to conduct financial solidity studies for each client to determine their ability to repay their outstanding loans within the agreed upon installments. 4. The government will subsidize the interest rate on loans provided by banks to small and medium-sized enterprises (SMEs) affected by the pandemic. 5. The CBE has postponed the repayment of existing credits for six months, with a possibility of extension up to one year. 6. The CBE has exempted some companies from having to pay their due interest on loans within the first two years of receiving the loan. This measure is expected to benefit those companies that have not requested an increase in loans. 7. In terms of companies ranked **second and third,** the Central Bank will provide: - 1. Banks are required to conduct financial solidity studies for each client to determine their ability to repay their outstanding loans within the agreed upon installments. - 2. The government will subsidize the interest rate on loans provided by banks to small and medium-sized enterprises (SMEs) affected by the pandemic. - 3. Companies ranked **second** may benefit from: - 1. Banks are required to conduct financial solidity studies for each client to determine their ability to repay their outstanding loans within the agreed upon installments. - 2. The government will provide a subsidy on the interest rates charged by banks on existing credits for up to six months, with the possibility of extension up to one year. - 3. In light of the recent changes in currency exchange rates, banks must take into consideration the fluctuations that have occurred since November 2016. I would like to remind everyone about the importance of adhering to all previous measures and anything else that may be required in this situation. Please accept my sincere appreciation for your understanding and cooperation."

Cairo, Egypt on February 27, 2017: The Governor / Chairman of the Board of Bank of Egypt announced after referring to the instructions issued by the Central Bank of Egypt on December 24, 2012 regarding the minimum capital adequacy ratio that included conditions required for provision of partial reserves in the core deposit base. The Central Bank of Egypt's board of directors decided on February 15, 2017 to amend these instructions. This would allow banks to include net profits as part of their core deposits without any restrictions, however, losses will be disclosed without conditions.

In a letter dated February 27, 2017, the Chairman of the Board of a bank in Cairo, Egypt, addresses the instructions issued to banks on December 24, 2012, regarding the minimum standard for capital adequacy. The letter refers to the conditions required for including quarterly net profits or losses in the additional Tier 1 capital of the bank's capital base. The Central Bank of Egypt's Board of Directors has decided to amend the relevant paragraph of the 2012 instructions, allowing banks to include net profits after a limited review by the auditor of the bank's financial statements. Losses, on the other hand, are to be deducted without any conditions.

In a letter dated February 21, 2017, the Governor of the Central Bank of Egypt announces a 5 billion EGP initiative to support the tourism sector and its workers. The initiative offers financing for companies and establishments in the tourism industry to renovate hotels, floating hotels, and tourist transport fleets. The terms include a 10% interest rate, a maximum loan duration of 10 years, and a requirement for the use of locally manufactured products for 75% of the renovation cost.

The Central Bank of Egypt has provided new guidelines for financing tourism facilities through banks. Here is a summary of the main conditions and requirements: 1. Financing will be available to individual investors or companies for the reconstruction, upgrade, or establishment of tourist facilities. 2. The maximum loan term is 10 years, with a grace period of up to two years. However, installments must be paid within this period, and installments are due quarterly. 3. The bank will contribute no more than 75% of the total financing cost for reconstruction or upgrading. The investor must cover the remaining 25%. This can be done through: - An upfront payment by the borrower before starting the renovation or upgrade work. - A guarantee from a property management company, provided that the value of the payment is compensated if the investor cannot repay the loan. - Payments made by the investor in proportion to the bank's financing amount based on the bank's analysis of the investor's cash flows. 4. The loan must be used for projects meeting new standards and specifications set by the Ministry of Tourism. 5. Banks must obtain technical studies (including feasibility studies) carried out by the company, along with a technical consultation to ensure that the project is viable and that completion rates match the loan repayment schedule. 6. The bank will only finance projects that comply with the new regulations issued by the Ministry of Tourism. 7. The investor must obtain a guarantee from a property management company if the facility is leased. 8. A minimum of 75% of the total project cost must be dedicated to locally manufactured products. 9. The borrower must secure a technical study (including feasibility study) carried out by the company, with the bank providing consultation by a specialized consultant to ensure that the project's costs and implementation plan meet standards. 10. The bank will cover the difference between the loan rate and the Central Bank of Egypt's deposit rate for loans used for tourism facility financing.

The document outlines the rules and criteria for registering and removing auditors from the Central Bank of Egypt's register. It details the requirements for registration, including Egyptian nationality, a degree in accounting, and good standing. It also mentions the disciplinary actions that can be taken against auditors who provide false information or violate the rules, such as warnings, temporary suspension, or removal from the register. The document includes a request form for registration or renewal, along with declarations and required documents, such as qualifications, membership certificates, and proof of insurance.

1. A copy of your resume or CV: A detailed and updated resume that highlights your accounting background, experience, and skills. 2. Personal details form with required signatures from the applicant: Include personal information such as name, date of birth, nationality, civil status, family status, and place of residence. 3. Certificate of good conduct or good behavior certificate: This should be issued by a police station or the competent authorities in your country within the last six months. 4. A photocopy of your identity card or passport: Both sides of the original document must be included along with a copy of the data page for foreign nationals. 5. Academic degrees and diplomas: Certified copies of all your academic qualifications, including their equivalence certificates if obtained from another country, as well as transcripts or mark sheets of each semester. 6. A certificate attesting to your accounting profession: This should be issued by the relevant authority in your country and should state that you have the necessary qualifications and skills to perform accounting services. 7. An official letter of commitment from the applicant: This should be signed by the applicant and include a statement pledging to respect the code of ethics, maintain professional secrecy, and abide by all applicable laws and regulations. 8. A partnership agreement between the accountancy firm and each partner: This should clearly state the nature of the partnership, shareholding, responsibilities, rights, and obligations of each partner. It must also include details about the accounting services to be provided, the target market, and any other relevant information. 9. Certificate of registration or licensing: A photocopy of the certificate issued by the competent authority in your country confirming that your accounting firm is legally registered and licensed to provide accounting services. 10. An official letter from the accounting firm detailing its organizational structure: This should include a list of all partners, managers, employees, and freelancers who work for or on behalf of the accounting firm, along with their respective job titles, responsibilities, and professional qualifications. 11. Evidence of professional insurance coverage: Provide evidence that your accounting firm has adequate professional insurance coverage to protect clients in case of any claims or disputes. 12. A copy of the internal control and audit manual: This document should outline the internal controls, procedures, and guidelines followed by the accounting firm to ensure compliance with all applicable laws and regulations, maintain professional secrecy, and safeguard client interests. 13. Financial statements for the past three years: For each year, provide audited financial statements that have been reviewed or certified by a licensed accountant or an independent auditor. 14. Tax returns filed during the last six years: Provide copies of all tax returns filed by the accounting firm and its partners during the last six years. 15. Five copies of your application, including supporting documents: Submit five complete sets of your application, along with all required supporting documents, in sealed envelopes marked "Confidential – For the Ministry of Finance."

In February 2016, the Central Bank of Egypt issued a directive regarding the ratio of installment payment to monthly income for personal loans and residential and real estate loans. The Central Bank has been closely monitoring its implementation and found that certain banks have violated these rules by granting car loans without verifying the applicant's monthly income. The bank has emphasized that the income verification process should continue when extending personal loans, especially for vehicle financing. Additionally, a borrower's gross income includes all sources of income, including those not recorded on official documents, according to the Deputy Governor's guidelines in March 2016. Any deviation from these directives must be reported urgently.

In Cairo, Egypt, on January 11, 2017, the Chairman/Chief Executive of the Bank stated that he would like to refer to the guidelines issued by the Central Bank of Egypt (CBE) on December 24, 2012 regarding the minimum standard of bank capital under the implementation of BASEL II which includes components of the second tranche of the Basel II standards. Due to some international and development banks with multiple mandates, as defined by their bylaws (December 2/1/2013 to January 2/2014), they were allowed to provide loans for Egyptian banks according to the instructions mentioned above. Therefore, in a meeting of CBE's Board of Directors on December 28, 2016, the sixth paragraph of those guidelines was amended to state that if a loan (or debt) is obtained either directly from shareholders or the Central Bank of Egypt or any international/multilateral development bank, certain conditions apply. In line with this change and to ensure compliance, loans (debts) supported by either the CBE or other entities with follow-up processing will be subject to the guidelines issued on December 24, 2012. The amendment also confirms that such loans (debts) may not carry specific terms or conditions tied to the sources of funding and shall flow according to the guidelines issued by the CBE on December 24, 2012.

In a letter dated December 28, 2016, Mr. Tarek Fayed, addresses concerns regarding the compliance of some banks with the Central Bank of Egypt's instructions on the ratio of monthly loan installments to an individual's monthly income. He notes that some banks are relying solely on customers' declarations of their income without obtaining supporting documents, and that the calculated ratio of installments to income exceeds the limit set by the Central Bank. Mr. Fayed emphasizes the need for banks to obtain proper documentation to verify customers' income and adhere to the mandated ratio, as outlined in previous communications from the Deputy Governor of the Central Bank.

On January 11, 2017, the Egyptian Central Bank issued a letter to the Chairman of a bank, referencing previous instructions from December 24, 2012, regarding the minimum standard for capital adequacy in accordance with the Basel Accords. The letter notes that international institutions and multilateral development banks are interested in providing supportive loans to Egyptian banks, allowing them to enter the Egyptian market and inject foreign currency resources. The Central Bank's Board of Directors has decided to amend paragraph 6/2/3/2 of the instructions to banks regarding the minimum standard for capital adequacy, specifying the conditions for supportive loans or deposits.

In December 2016, the CEO/Chairman of Egypt's Central Bank expressed optimism towards the tourism industry and highlighted the importance of supporting it. The bank decided to extend a loan support programme for employees in the sector until February 2018. A deposit facility for employees will also be extended for six more months up to June 2017, with employees only being allowed to access their deposits after completing six additional months' service or if they have housing loans or personal loans that were approved before August 30, 2016. The decision comes as a relief to employees who work in the tourism sector and had been granted loans under the loan support programme since December 7, 2015.

Here is the English translation of the mentioned Arabic statement, which explains a number of points related to SME financing in Egypt: .1 The Central Bank of Egypt (CBE) has already begun applying the new guidelines for financing small and medium-sized enterprises that were announced on December 20, 2008. However, new credit guarantees will be provided starting from January 2021, as per a decision by the board of the Central Bank of Egypt. .2 The Central Bank of Egypt has decided to establish and operate special financing units within commercial banks dedicated specifically for financing small and medium-sized enterprises (SMEs). These units will have the necessary qualifications and resources needed to handle and support SMEs and improve their overall capabilities. .3 All commercial banks are now required to set up specialized departments or branches that focus solely on financing SMEs, provide training programs for those involved in managing these enterprises, and enhance their understanding of how to work effectively with banks. .4 The Central Bank of Egypt has emphasized the importance of the role of the Egyptian Small Finance Corporation and the affiliated institutions under the Ministry of Trade and Industry, as well as the need for all state training initiatives in this sector. In addition, the Arabian Federation of Industries should prepare specialized programs to help managers of SMEs manage their projects effectively, and also develop more specialised programs for those working in this field with commercial banks. .5 The Central Bank of Egypt will continue to work on implementing a decision made by its board regarding the supervision and regulation of commercial banks within a specific time frame. This is necessary because it affects how banks comply with the bank's decisions, particularly with regard to providing credit facilities to SMEs. In order to follow up on the implementation of this decision, commercial banks will need to ensure that they maintain their compliance with the supervisory and regulatory requirements set by the Central Bank of Egypt within a specific time frame, preferably by February next year. To summarize, these steps involve providing incentives for banks to finance SMEs, setting up special financing units within commercial banks dedicated to SMEs, establishing specialized departments or branches that focus solely on SMEs, and improving overall capabilities of those involved in managing these enterprises through training programs. It is also important to work closely with the Egyptian Small Finance Corporation and the affiliated institutions under the Ministry of Trade and Industry, as well as the Arabian Federation of Industries to develop specialized training programs that help managers of SMEs manage their projects effectively.

The letters outline initiatives by the Egyptian Central Bank to encourage banks to finance small and medium-sized businesses, with a focus on important economic sectors. The initiatives include offering low-interest credit facilities, exempting banks from mandatory reserve requirements, and mandating that banks allocate a portion of their credit portfolios to these businesses. The letters also emphasize the importance of training and cooperation with relevant ministries and entities to support the development of this sector. Banks are required to submit a timeline for implementing these decisions by the end of February.

In a letter dated December 29, 2016, the Central Bank of Egypt approved a one-year extension of the tourism sector support initiative, ending in February 2018, and a six-month extension of the consumer and mortgage loans initiative for tourism workers, ending in June 2017. The extensions were granted to alleviate the ongoing impact on the tourism sector and its employees, with the bank emphasizing the importance of the industry as a pillar of the economy and a source of foreign currency.

In June 2016, the Central Bank of Egypt introduced a new electronic platform for banks and financial institutions. The goal was to collect all supervisory guidelines in one place on the main page, as well as updates of these guidelines throughout each semester. As we continue our efforts, kindly review the content and provide your feedback or inquiries within six months and send them to Regulations.Department@cbe.org.eg. The guide helps banks gather and sort supervisory guidelines released by the Central Bank and will be updated regularly with new regulatory instructions. We appreciate your cooperation.

In a letter dated June 23, 2016, the writer informs the addressee that the Central Bank of Egypt has launched a new website featuring an updated, reviewed, and published electronic regulatory instructions manual. The manual includes all the periodic books issued by the Central Bank of Egypt until the first quarter of 2014. The writer requests that the addressee review the content and any coordinating amendments that may affect it and provide feedback within six months.

خطاب الشركة السابق: السلام عليك و آمن, أجمalu تمكن لدي تقديم خطة تمويل خاصة للعمل الذي يرغب فيه الحصول على مؤسسة تجارية. 1. يقوم شركتنا (المركز العالمي للتمويل و التداول) بأن تتمنا أن نقوم بتفهيم خطة تحتي لعقد محدد بعض قواعد وشروط وتوقيع مذكرة عهد. 2. يتم التأمل النهائي في قيمة 50٪ من المبلغ المطلوب (الحد: ٢،٠٠ ,الحد العلي: ٣،٠٠ ) للعمل. 3. سيتم التأمل في قيمة 50٪ من الربح المخصص للعمل بالاطلاق (الحد: ١،فُوْر ,الحد العلي: ٣،فُوْر) 4. سيتم إعطاء التوجيه الكامل بأن تتمنا الحصول على مؤسسة تجارية عقدًا طويلاً. 5. سيتم إعطاء التوجيه الكامل بأن تتمنا الحفظ على حالة مؤسة تعد بالتر ألاً. 2. سيع بصت: إذ تقد تكون شخص تجز أنه سيط إذ تمكن مؤسة تجارية على حلة تفي أنه يمث أن تحو بالتر و أيضً. سأ, يحض إلى الشركة الخاصة بأس مؤسسة تجارية تعد بالطب في المركز العالم للتنوي على حلة تقد. هذه الخطة الخاصة تتمن أنها ستيفاء مبوضة. 23. سيط إذاً إلى الشركة الخاصة والإجرة تتمكن مؤسسة تجارية على حلة تقد. وفق للأسية: 1. سيط إذاً إلى الشركة الخاصة بأس مؤسسة تجارية على حلة تقد. 2. سيط إذاً إلى الشركة الخاصة والإجرة تتمكن مؤسسة تجارية على حلة تقد. 3. سيط إذاً إلى الشركة الخاصة بأس مؤسسة تجارية على حلة تقد. 24. سيط إذاً إلى الشركة الخاصة والإجرة تتمكن مؤسسة تجارية على حلة تقد. 25. سيط إذاً إلى الشركة الخاصة بأس مؤسسة تجارية على حلة تقد. منو, ستيف أنه: 1. سيط إذاً إلى الشركة الخاصة بأس مؤسسة تجارية على حلة تقد. 2. سيط إذاً إلى الشركة الخاصة والإجرة تتمكن مؤسسة تجارية على حلة تقد. 3. ستيف أنه: تتمكن مؤسسة تجارية تعد بالطب في المركز العالم للتنوي على حلة تقد. 4. تتمكن مؤسسة تجارية تعد بالطب في المركز العالم للتنوي على حلة تقد. 5. تتمكن مؤسسة تجارية تعد بالطب في المركز العالم للتنوي على حلة تقد. إذ, هذ الخطة الخاصة ستيفة تتمكن مؤسسة تجارية على حلة تقد. 26. في أو، يبدو أنه: 1. يتوفر للشركة الخاصة بالطب للإجرة عن حسن أن هذه الخطة الخاصة تعد بالطب. 2. يتوفر للشركة الخاصة بالطب للإجرة عن حسن أن هذه الخطة الخاصة تعد بالطب. 3. يتوفر للشركة الخاصة بالطب للإجرة عن حسن أن هذه الخطة الخاصة تعد بالطب. 27. يتوفر للشركة الخاصة بالطب للإجرة عن حسن أن هذه الخطة الخاصة تعد بالطب. 28. يتوفر للشركة الخاصة بالطب للإجرة عن حسن أن هذه الخطة الخاصة تعد بالطب. 29. يتوفر للشركة الخاصة بالطب للإجرة عن حسن أن هذه الخطة الخاصة تعد بالطب. 30. يتوفر للشركة الخاصة بالطب للإجرة عن حسن أن هذه الخطة الخاصة تعد بالطب. 29. يتوفر للشركة الخاصة بالطب للإجرة عن حسن أن هذه الخطة الخاصة تعد بالطب. 30. يتوفر للشركة الخاصة بالطب للإجرة عن حسن أن هذه الخطة الخاصة تعد بالطب. 31. في أو، يتوفر أنه: 1. إذ تقد في الشركة الخاصة تمكن مؤسسة تجارية على حلة تقد. 2. إذ تقد في الشركة الخاصة والإجرة تتمكن مؤسسة تجارية على حلة تقد. 3. إذ تقد في الشركة الخاصة بأس مؤسسة تجارية على حلة تقد. 4. إذ تقد في الشركة الخاصة والإجرة تتمكن مؤسسة تجارية على حلة تقد. 35. إذ يتوفر أنه: 1. إذ تقد في الشركة الخاصة بالطب للإجرة عن حسن أن هذه الخطة الخاصة تعد بالطب. 2. إذ تقد في الشركة الخاصة بالطب للإجرة عن حسن أن هذه الخطة الخاصة تعد بالطب. 3. إذ تقد في الشركة الخاصة بالطب للإجرة عن حسن أن هذه الخطة الخاصة تعد بالطب. 36. إذ تقد في الشركة الخاصة بالطب للإجرة عن حسن أن هذه الخطة الخاصة تعد بالطب. 37. إذ تقد في الشركة الخاصة بالطب للإجرة عن حسن أن هذه الخطة الخاصة تعد بالطب. 38. إذ تقد في الشركة الخاصة بالطب للإجرة عن حسن أن هذه الخطة الخاصة تعد بالطب. 39. إذ تقد في الشركة الخاصة بالطب للإجرة عن حسن أن هذه الخطة الخاصة تعد بالطب. 310. إذ تقد في الشركة الخاصة بالطب للإجرة عن حسن أن هذه الخطة الخاصة تعد بالطب. وفي الحق 1. الشركة المدولة تتوفر للإجرة. 2. الشركة المدولة تتوفر للإجرة. 3. الشركة المدولة تتوفر للإجرة. 4. الشركة المدولة تتوفر للإجرة. 5. الشركة المدولة يكون خطةً مثل هذه الخطة الخاصة. 6. الشركة المدولة تسع إجرة بحث أكون.

The letter, dated November 27, 2016, is addressed to the Chairman of the Board of Directors and concerns the Central Bank of Egypt's initiative to provide mortgage financing for low and middle-income individuals. The letter outlines the initiative's updated terms and conditions, including the requirement for unified lending criteria to be followed by banks when offering financing to this demographic. It also addresses the challenges faced by pensioners, beneficiaries, and self-employed individuals in obtaining financing under the initiative due to their variable income levels and the difficulty in providing proof of income. The letter requests strict adherence to the attached terms and conditions, allowing banks a three-month grace period for adjustments.

The Central Bank of Egypt issued a statement on Thursday, February 10th, announcing some amendments to its foreign exchange policy. Here's the breakdown of these amendments: 1. In reference to **Foreign Exchange Allocations and Imports of Non-Essential Items**: The Central Bank will cancel the circular issued on February 4, 2013, which outlines the essential goods that banks must prioritize in their foreign exchange dealings for specific import operations. 2. In reference to **Exchange Rates of Foreign Currencies**: The Central Bank will enhance the periodic statements issued on March 8 and March 9, 2016, regarding lifting the upper limit of currency issuance and withdrawal by individuals and authorized entities in terms of foreign exchange in non-essential goods imports, excluding these items from the limit of $10 million per day and $50 million per month for issuance and $30 million for withdrawal. And now, the responsibility of money markets is at the forefront, so you must pay full attention to this great responsibility in order to achieve the desired goal of stability for everyone. I urge you, understand the importance of your role and strive to serve this country as you have always done. Regarding the new amendments to the foreign exchange policy, here are some key points: 1. The Central Bank will cancel the circular issued on February 4, 2013, which outlines the essential goods that banks must prioritize in their foreign exchange dealings for specific import operations. 2. In reference to **Exchange Rates of Foreign Currencies**: The Central Bank will enhance the periodic statements issued on March 8 and March 9, 2016, regarding lifting the upper limit of currency issuance and withdrawal by individuals and authorized entities in terms of foreign exchange in non-essential goods imports, excluding these items from the limit of $10 million per day and $50 million per month for issuance and $30 million for withdrawal. And now, the responsibility of money markets is at the forefront, so you must pay full attention to this great responsibility in order to achieve the desired goal of stability for everyone. I urge you, understand the importance of your role and strive to serve this country as you have always done.

In an effort to stabilize the Egyptian economy and reduce inflation, the Central Bank of Egypt decided to implement several measures to correct the foreign currency exchange policy. These measures included floating the Egyptian pound and giving Egyptian banks more flexibility in pricing the purchase and sale of foreign currencies. The decision was made in alignment with the government's structural reform program aimed at enhancing public finances.

The Central Bank of Egypt has reduced the maximum employment limit for individuals and associated parties from 20% to 15% of the bank's total assets (first limit). It also decreased the second maximum employment limit for individuals and associated parties from 25% to 20% of the bank's total assets. The Central Bank of Egypt had previously given banks a three-year grace period to improve their conditions, according to Law No. 88 for 2003. If the cumulative exposure exceeds 50% of authorized guaranteed credit for large borrowers by the bank, then: - Firstly, the risk weight increases on the overriding ratio of the bank's capital with percentages of either: a) Between 200% and 700% when the exposure ratio exceeds 50%. b) 300% when the exposure ratio is at least 700%. For foreign branches, the risk weight increases above half of their bank's total assets. The banks have been granted a one-year grace period to improve their conditions starting from its implementation date, considering that they follow the mentioned decision.

In a letter dated January 11, 2016, the Central Bank of Egypt announces a decision to reduce the maximum credit exposure to a single client from 20% to 15% of the bank's capital base and to a client and its related parties from 25% to 20%. The letter also states that if the total credit facilities granted to the top 50 clients and their related parties exceed 50% of the bank's credit portfolio, a weighted risk factor will be applied to the excess amount when calculating the capital adequacy ratio.

The Basel Committee on Banking Supervision, which is a part of the Bank for International Settlements (BIS), has established several key principles and standards related to prudential regulation of banks. These include capital requirements, risk management, governance, and transparency. The Basel III framework, introduced in response to the global financial crisis, is a comprehensive set of reforms aimed at strengthening the resilience of the banking sector. It includes the following key components: 1. Capital requirements: Banks must hold a minimum amount of high-quality capital, known as Common Equity Tier 1 (CET1) capital, to absorb losses and ensure their stability. The minimum CET1 requirement is set at 4.5% for internationally active banks and will gradually increase to 6.75% by January 2023, with a 2.5% buffer to absorb potential losses from economic downturns or other adverse events. 2. Liquidity requirements: Banks must maintain sufficient liquid assets, such as cash and highly liquid securities, to meet their short-term funding needs. The Basel III framework sets out several minimum liquidity standards, including the Liquidity Coverage Ratio (LCR) and the Net Stable Funding Ratio (NSFR). 3. Large exposures: Banks must limit their exposure to a single counterparty or group of connected counterparties to mitigate the risk of concentration. The large exposure measure sets a limit on the amount of credit that can be extended to a single counterparty, which is currently set at 25% of Tier 1 capital for most banks and may increase up to 30% by January 2023. 4. Market risk: Banks must establish effective risk management processes to measure, monitor, and control market risk arising from their trading activities and other investments. The Basel III framework includes a revised market risk framework that incorporates more risk-sensitive approaches for measuring and capitalizing market risk. 5. Operational risk: Banks must identify, assess, and manage operational risks related to their business activities, such as fraud, cybersecurity incidents, and technology failures. The Basel III framework introduces a revised operational risk framework that replaces the Standardized Measurement Approach (SMA) with an Internal Model Approach (IMA), which allows banks to use their own risk models for calculating operational risk capital requirements. 6. Governance and accountability: Banks must establish robust governance structures, effective internal control systems, and strong corporate cultures that promote integrity, ethical behavior, and a commitment to compliance with applicable laws and regulations. The Basel III framework emphasizes the importance of board oversight, executive responsibility, and ongoing training and development for bank employees. 7. Transparency: Banks must disclose relevant financial information, risk exposures, and other material facts to their shareholders, regulators, and other stakeholders in a timely and transparent manner. The Basel III framework encourages banks to adopt international accounting standards, such as International Financial Reporting Standards (IFRS), and to provide more granular disclosures about their risk profiles, capital adequacy, and liquidity management practices. 8. Stress testing: Banks must conduct regular stress tests to assess their resilience under adverse economic conditions and to identify potential weaknesses in their capital and liquidity positions. The Basel III framework includes guidelines for conducting stress tests and recommends that banks use a variety of scenarios to test the effectiveness of their risk management policies and practices. 9. Resolution planning: Banks must develop resolution plans that outline how they would be wound down or restructured in the event of financial distress, insolvency, or bankruptcy. The Basel III framework emphasizes the importance of cross-border cooperation among regulators and authorities, as well as the need for banks to maintain sufficient loss-absorbing capacity to facilitate an orderly resolution process. By implementing these key components, the Basel Committee on Banking Supervision seeks to enhance the stability and resilience of the global banking system while preserving its competitive nature.

The Central Bank of Egypt has issued liquidity risk management instructions for banks to follow. These instructions include maintaining a minimum liquidity coverage ratio and net stable funding ratio, as well as guidelines for managing liquidity risk. Banks must adhere to these instructions and submit quantitative models for these ratios to the Central Bank of Egypt.

In a letter dated June 8, 2016, the Central Bank of Egypt's Governor addresses the Chairman of the Board of Directors of a bank, providing detailed rules and procedures for implementing the bank's initiative to encourage financing of equipment, production lines, and medium-sized industrial and agricultural companies. The letter emphasizes the need for banks to make their best efforts to provide financing to small and medium-sized enterprises and overcome any obstacles they may face. It also outlines the purpose of the initiative, its implementation and monitoring mechanism, and the method and periodicity of installment and return payments. The Central Bank of Egypt will closely monitor banks' compliance with the initiative's terms and the quality of the resulting portfolios.

The Central Bank of Egypt (CBE) has issued a statement outlining the new mortgage finance mechanism to be implemented in coordination with commercial banks and the Egyptian government. Below are the key points: 1. From January, April, July, and October 2023, the Central Bank will deduct 5% of the outstanding balance on each loan installment due on any date within the month. This will apply to all new mortgage loans disbursed by commercial banks from May 1, 2023. 2. The total amount deducted from the borrower's monthly payment for this purpose will not exceed 4% of the total value of the loan. 3. Beginning January, April, July, and October 2023, the Central Bank will make a 5% annual deduction in favor of each bank based on their outstanding loans to commercial banks and the government's public sector, as well as administrative and other expenses, subject to applicable taxes under current laws. 4. Effective January 1, 2023, the maximum interest rate charged by banks for mortgage financing will be lowered from 5% to 4%. This reduction in interest rates is subject to amendments in the applicable tax legislation. 5. If a borrower defaults on their loan installments and the second-stage rescheduling plan is implemented, the bank shall have the option to extend repayment and apply the outstanding dues. Repayment may be postponed in accordance with state policies. 6. In case of an emergency or if the Egyptian government declares a state of war or a major disaster, banks may be allowed additional leeway on rescheduling loan installments and applying outstanding dues. This will be subject to approval by the Central Bank. 7. The supervisory authority and regulatory authorities will closely monitor the implementation of the monthly deductions mechanism. They will ensure that all relevant data, which is similar to the real estate finance system introduced in January 2014, will be recorded on the specified template. It should be noted that the electronic payment mechanism being used by commercial banks is very similar to the electronic mortgage financing system introduced in January 2014. Banks may seek assistance based on their previous experience with the electronic mortgage financing system from May 1, 2023."

In April 2016, the Chairman and CEO of Bank... greeted everyone with "Hello, and after that..." He mentioned a book written by Deputy Governor Nabil Saleh in September 2008 emphasizing the importance of banks conducting marketing activities for banking products through their employees in certain locations such as tourist areas or ports. In response to requests from some banks, he confirmed: - Marketing and advertising activities must be limited within specific locations and timeframes (not more than one week) without engaging in any financial transactions or fulfilling any requests (opening accounts or loan applications). The presence of bank employees should only focus on promoting banking products, with the required approval from the Central Bank of Egypt. - Advertising through televisions, billboards, and posters is allowed for promotional purposes without any physical presence of bank employees, and banks must notify the Central Bank in advance. He requested that everyone abide by these rules and highly appreciated their cooperation.

In a letter dated April 19, 2016, addressed to the Chairman of the Board of Directors of a bank, Mr. Tarek Fayed requests confirmation of the requirements for banks to obtain prior approvals from the Central Bank of Egypt to avoid penalties for non-compliance. He emphasizes that marketing and promotional activities for bank products should be limited to specific events and locations for a temporary period, without conducting any banking transactions or accepting applications. Banks are allowed to be official sponsors of certain events for marketing purposes without the physical presence of their representatives, provided they notify the Central Bank in advance.

The Central Bank of Egypt has extended the deadline for tourism employees' loans by six months until the end of December 2016 to enable banks to roll over their instalments for personal housing and mortgage loans according to Article 30 of September 2015. The decision also continues the provisions of the initiative. In addition, a special committee was formed to guarantee loans and issue new foreign currency allocations by the Board of Directors of the Central Bank of Egypt in an extraordinary meeting on May 15, 2016.

In a letter dated May 15, 2016, the Central Bank of Egypt extended its initiative to support workers in the tourism sector by allowing banks to defer loan payments for six months without imposing penalty interest for those customers who were regular as of September 30, 2015. This extension was approved by the Board of Directors of the Central Bank of Egypt during its meeting on May 12, 2016, and was intended to provide relief to those in the tourism industry who continued to be impacted by challenges in the sector.

In a letter dated March 7, 2016, the writer informs the addressee about an amendment to the Egyptian Central Bank's decision regarding the regulations and rules of bank financing for company acquisitions. The letter references a previous circular from January 25, 2009, and emphasizes the Egyptian Central Bank's supervisory role in curbing high-risk practices that may impact the efficiency and performance of banks. The writer encloses the amended decision and requests the addressee to take the necessary actions.

## (The Third Article) Raising the risk-weighted assets for shareholding transactions is calculated based on the following: (a) Up to 200% in relation to equity investment activities from strategic investors, which refers to the bank seeking such acquisition operating in the same sector as the acquiring bank or completing the transaction through companies or funds controlled by the acquirer. In this case, at least 40% of the shareholding will be financed through loans. (b) No more than 5% of the total loan portfolio of the bank may be lent to one individual customer or related parties for such transactions. ## (The Fourth Article) It is prohibited to increase the overall financing for takeover activities above 2.5% of the total loan portfolio of the bank upon issuance, and no party may borrow more than 5% of their total loan portfolio from the bank or related parties. ## (The Fifth Article) Banks are required to obtain a resolution by the Central Bank of Egypt's Board of Directors regarding guidelines for assessing risk. ## (The Sixth Article) In accordance with the provisions and regulations contained in the aforementioned resolution, banks must take into account the rules governing shareholding transactions, and banks that have previously financed such transactions shall rectify their conditions within six months from the date of this law, in accordance with these rules. ```haxl : 54 sha : The Qahirah 2733 : Main Office: 2770-2733 : Fax: 259-760-35 ```

إلى معاير الدعم التحوطي لـ "الشريحة الأولى والثانية", يتكون هذا المعاير: -٠.1- س المال الأساسي لـ"الشريحة الأولى". -١.1- قدرة "بنك مصر" على إستغلال هذه المعاير. -٢.1- س المال الأساسي لـ"الشريحة الثانية". -٣.1- معيار تكوين "الدعم التحوطي" بإجراء قيود على توزيعات الربح حسب قيمة ما تم استخدامها في معيار تكوين "الدعم التحوطي" الإصدار الأول. -٤.1- على تقديم تصور لـ"بنك مصر" لقطاع الرقابة والشراكة بتطبيق "الدعم التحوطي". -٥.1- تطبيق "الدعم التحوطي" من أول يناير 2021 حتى أغسطس 2021. -٦.1- تطبيق "الدعم التحوطي" لـ"الشريحة الثانية". جمــال نــجـم: - يُستخدم معاير "الدعم التحوطي" بدءً من أول يناير/2021 حتى أغسطس/2021. - المصمم على إجراء قيود على توزيعات الربح للتكوين من المعاير الأول والثاني. - على إجراء "الدعم التحوطي" لـ"الشريحة الثانية". بإجازة في قبولك فائقًا.

The letter, dated April 17, 2016, is addressed to the Chairman of the Board of Directors of a bank in Cairo, Egypt. It announces the Central Bank of Egypt's decision to implement Capital Buffer Conservation ratios starting in 2016 to enhance capital requirements and protect Egyptian banks from potential losses during stressful periods. The letter outlines the required capital ratios for different dates, with the overall goal of reaching a total capital adequacy ratio of 10% by January/July 2019.

In a letter dated April 10, 2016, the author informs the Chairman of the Board of Directors of a bank about an addendum to the previous correspondence from the Governor of the Central Bank of Egypt regarding banks' inquiries on import controls. The addendum directs banks not to accept collection documents sent directly to clients from abroad, with certain exceptions. The author further requests the acceptance of shipping documents presented directly by clients related to meat, similar to the exceptions made for live birds and animals and air freight due to customs procedures and geographical distance for road freight.

In Cairo, on April 10th, 2016, the Governor of the Central Bank of Egypt issued a statement regarding inquiries about import operations rules. The statement clarified that banks will not accept foreign education certificates directly from employees but instead have specific exceptions: 1. Branches or subsidiaries of foreign companies 2. Live animals and animal products 3. Raw materials, spare parts, and industrial machinery transported by air 4. All goods and products transported by air 5. Software, applications, computers, and their accessories The Central Bank also requested that banks accept import certificates directly from employees for live animals, animal products, and processed meat shipped by air due to customs regulations and geographical distances for domestic shipments. Additionally, the Central Bank requests all involved to take note of this announcement and appreciates everyone's cooperation and understanding.

Here is the translated text: As part of Egypt's anti-money laundering and combating terrorism financing measures, the Central Bank of Egypt has issued a new regulation for telegraphic transfers coming into the country via mobile banking apps. The purpose of this regulation is to allow citizens to receive foreign currency transfers through their personal mobile phone banking applications in Egyptian pounds and according to the following guidelines: 1. These services are limited only to natural persons. 2. Customers must comply with KYC procedures established by the Financial Intelligence Unit against money laundering and terrorism financing under Law No. 201 of 2011. 3. The bank must also comply with the guidelines established by the FIU for identifying customers of banks abroad against money laundering and terrorism financing under Law No. 201 of 2011. 4. A special monitoring mechanism must be implemented to monitor incoming foreign currency transfers in a systematic manner, ensuring that no suspicious activities are involved with money laundering or terrorism financing or any criminal activity. 5. The bank must set the maximum limit for receiving foreign currency transfers according to the risk assessment and established guidelines for this purpose, not exceeding five times the value of the customer's balance in Egyptian pounds at a time. 6. Before proceeding with the transfer, the bank must verify that the names of those involved in the transfer are not listed on domestic or international sanctions lists related to terrorism financing, proliferation of weapons of mass destruction, and other relevant lists as determined by the bank. 7. The bank shall take appropriate measures to ensure that the transfer is made for the benefit of the customer and that the amount has been credited in Egyptian pounds to their personal mobile phone banking account. I hope this information was helpful. Please feel free to ask any further questions you may have.

In Cairo, on March 31, 2016: Dear all, I would like to refer you to my previous circulars dated March 9, 2016 regarding the cancellation of upper limits for remittances and withdrawal by foreign employees for natural persons, as well as legal entities in respect of imports of essential goods, while maintaining the limits for legal entities with regard to imports of non-essential goods and articles. Some natural persons have made large cash deposits through foreign workers as financial transfers to carry out imports of non-essential goods and articles via companies, which is considered evasion of the aforementioned instructions 0. I would like to remind you once again that it is mandatory to comply with all issued instructions, and I kindly request the Central Bank's attention in this regard, and thank you for your cooperation. Best regards, Jamil Najm.

On March 31, 2016, the Central Bank of Egypt issued a letter addressing the cancellation of deposit and withdrawal limits for foreign currencies for individuals and entities involved in importing essential goods. However, they noticed that some individuals were making large cash deposits in foreign currencies as collateral for importing non-essential goods through companies, which was seen as circumventing the regulations. The bank requested strict adherence to the issued instructions to prevent such actions.

In a letter dated March 27, 2016, the Central Bank of Egypt announces amendments to the rules governing mobile phone payment orders in Egypt. The changes aim to enhance the use of electronic payment methods, particularly mobile phones, for receiving international remittances. The amendments include allowing international remittances to be received via mobile phones and setting a maximum limit for such transactions, with strict anti-money laundering and counter-terrorism financing measures in place.

In a letter dated March 28, 2016, the Chairman of the Board of a bank in Cairo, Egypt, addresses the regulations regarding banks engaging in insurance activities. The letter refers to a previous directive from May 22, 2013, which allowed banks to enter into agreements with a maximum of two insurance companies, provided they did not offer similar products. The bank's Board of Directors has now approved a modification to this regulation, allowing banks to partner with up to one company for each of the following: Commercial Property Insurance, Takaful Property Insurance, Commercial Life Insurance, and Takaful Life Insurance. This change aims to diversify services, improve access to insurance coverage, and cater to customers who prefer Takaful insurance over commercial insurance.

Dear Sir/Chairman, The Chairman of the Board of BANK has issued a statement to clarify that it is compulsory for banks operating in Egypt to sign agreements with insurance companies (up to two) with no obligation to offer similar products, such as life or property insurance. The purpose of this change is to diversify the services and products offered by banks to their clients, as well as increasing the insurance coverage for different segments of society, given the differences in demand for insurance types from various groups within society. The Egyptian Central Bank's Board of Directors resolved to amend Article 2 of its previous decision No. 2013/1010 regarding rules for banks operating in Egypt's insurance sector on May 21, 2013, specifying that: Banks are allowed to sign agreements with up to two insurance companies - one for property insurance and another for life or health insurance, without allowing them to combine these services. Please be informed of the implementation date of this decision. I appreciate your understanding and cooperation. Kind regards, Ghaly Hassan

طارق عامر، الرئيس التنفيذي للبنك المركزي المصري، يصدر قرارًا بتعيين الرئيس التنفيذي الرئيسي لمدة 9 سنوات. كما يحدد القرار أيضًا أن فترة ولاية الرئيس التنفيذي للبنوك الخاصة هي 9 سنوات، بينما تكون الولاية لمدة 9 سنوات لفروع البنوك الأجنبية.

3. Branches of the International Cooperation Bank in Egypt: The Arab Republic of Egypt has established a total of **9 branches** for the **International Cooperation Bank of Egypt (Al-Ahli Bank)**, and there is an additional branch specifically dedicated to foreign exchange transactions. These branches are distributed throughout different Egyptian governorates, and their main goals are to finance various development projects and provide financial services to both individuals and institutions. Below is a list of all the branches in Egypt: 1. **Cairo Head Office** 2. **Alexandria Branch** 3. **Gharbia Branch (Al-Mahalla Al-Kobra)** 4. **Giza Branch** 5. **Qalubia Branch (Al-Matariya)** 6. **Sharqia Branch (Zagazig)** 7. **Dakahlia Branch (Damietta)** 8. **Suez Canal Branch (Port Said, Ismailia, Suez City)** 9. **New Valley Governorate Branch** 10. **Foreign Exchange Branch** In addition to these branches, there is also a branch specifically for **foreign exchange transactions**, which operates under the name **"Egyptian Export and Import Company"**. This branch focuses on facilitating foreign trade and providing financial services related to importing and exporting goods. It's headquartered in Cairo and operates throughout Egypt, with branches located in major ports like Alexandria, Port Said, Suez, and Ismailia.

The Central Bank of Egypt has announced new changes to the definition of small, medium and micro enterprises (SMMEs) starting August 24, 2020. Here are some of the key points: 1. The Central Bank of Egypt has defined a new classification system for SMMEs. According to this definition, small enterprises can have up to EGP 50 million in annual sales revenue, medium-sized enterprises between EGP 50 million and 500 million, and micro-enterprises less than EGP 50 million. 2. The amendment allows banks to provide credit facilities up to a certain limit for SMMEs. Previously, banks were unable to offer credit facilities to such enterprises without the need for third-party guarantees or additional collateral. 3. Banks are now required to apply a new rating system for all SMMEs based on their financial and operational performance. This rating system will be used by the Central Bank of Egypt in assessing the overall health of the Egyptian economy. 4. The Central Bank of Egypt has also modified the definition of small, medium, and micro enterprises (SMMEs). Starting August 24, 2020: a) For newly established small to medium-sized enterprises, the minimum share capital has been increased from EGP 50,000 to between EGP 3 million and EGP 10 million for industrial companies. This is done by merging the definitions of small and medium businesses. Consequently, very small enterprises would be classified as small, considering their share capital. b) For newly established micro to small-sized enterprises, there will be a new classification system based on their share capital, considering their size in terms of annual sales revenue. Starting August 24, 2020, a company with an annual sales revenue between EGP 5 million and EGP 50 million is considered a small business. These changes come as part of the Egyptian government's initiative to support and empower local SMMEs in response to the impact of the COVID-19 pandemic on the national economy.

In a letter dated March 22, 2016, the author addresses the Chairman of the Board of Directors of a bank, providing clarifications on previously issued instructions regarding credit concentration limits for banks, the ratio of installment payments to monthly income for consumer loans, and encouraging banks to provide credit facilities to small and medium-sized enterprises. The letter emphasizes the importance of adhering to these instructions and requests the Chairman to take necessary actions in this regard. It also highlights the need for banks to align their lending practices with regulatory requirements, especially when dealing with consumer loans and credit facilities for small and medium-sized businesses.

In this table, you can see the different scenarios and their respective consequences for your interest rate calculations. | Scenarios | For periods up to 6 months | For periods from 1 month to 6 months| For shorter periods (less than one month)| |------------------------------------|---------------------------------|-------------------------------------|----------------------------------------| | Larger than 6 months | Longest term lending rate | | | | Greater than 3 months but less than 6 months| Interest rates on excess reserves (based on average overnight rate) | | | | Less than 3 months but equal to or greater than 1 month | Stabilization Fund interest rates (based on annual average interest rate) | | | | Less than one month | Other investment income | | Interest income on other investments | For periods: - Up to 6 months, the base rate used is the overnight indexed swap (OIS) for 6-month maturities. - From 1 month to 6 months, the reference rate is the average of the daily overnight indexed swaps during the relevant period. - For shorter periods than one month, there are no specific rates provided but interest income on other investments may be used as a proxy. | | Over 20 years | For periods ending in 2020 | For periods ending in 2021 | |------------------------------------|-----------------------------------------|---------------------------------------------|----------------------------------------| | | Base rate used | Notes: - 1, The Bank of Saudi Arabia (SA) publishes its monetary policy using the overnight indexed swap (OIS), based on the daily OIS rates. However, in calculating your interest rates, you will need to apply these published rates according to your loan or deposit transactions with the bank. - 12, Tetymi Almouayia Tahhurat Ajmiya Alamalikum (SA) publishes its key macroeconomic data. These include data on its foreign reserves, its domestic financial system, and its balance sheet among other things. However, in understanding your interest rate calculations, you will need to apply these published data according to your loan or deposit transactions with the bank. - 13, The Central Bank of Saudi Arabia (SA) publishes the details on its financing mechanisms and the different types of investment it has. These include short-term investment options, longer-term investment options, and other investment income sources among other things. However, in understanding your interest rate calculations, you will need to apply these published data according to your loan or deposit transactions with the bank. So, for periods up to 6 months, the average overnight indexed swap (OIS) rate is used as a base rate. For periods from one month to six months, the average daily overnight indexed swap (OIS) rate for that specific period is applied. And finally, for shorter periods than one month, other investment income may be considered as a proxy. Remember, in all these scenarios, we are considering only the conventional banking practices and not including any unconventional financial or monetary instruments or any other forms of investments or borrowing methods within these scenarios.

The letter is from the Central Bank of Egypt to the Chairman of the Board of Directors of a bank. It discusses the bank's internal capital adequacy assessment process (ICAAP) and the supervisory review and evaluation process (SREP). The ICAAP is a comprehensive assessment of the bank's capital adequacy, taking into account its risk profile, risk management system, and capital adequacy. The SREP is a review of the ICAAP by the Central Bank of Egypt to ensure compliance with international best practices in banking supervision. The letter outlines the ICAAP process, principles, scope, and frequency, as well as the roles of the bank and the supervisory authority in the SREP. It also covers the report preparation and approval process, the responsibilities of the board of directors and senior management, and the report components. The supervisory authority's role in the SREP is also detailed, including the assessment of the ICAAP, identification of deficiencies, and corrective actions.

Cairo, March 2016: Mr. Asst/Chairman of the Board Dear all, By amending certain provisions of educational regulations in force from February 2015 onwards pertaining to student visas and foreign goods and industrial products, I would like to inform you that the above-mentioned restrictions are being gradually lifted for students who work in the field of importing and exporting goods and industrial products. This decision comes into effect as of January 26th, 2016, with a phased implementation period until February 15th, 2016, in relation to the specific group of students mentioned above. We kindly request that you take note of this matter and appreciate your cooperation in implementing the referred decision. Respectfully yours, Taher Abou El Enein

In a letter dated March 9, 2016, the Central Bank of Egypt informed the Chairman of the Board of Directors of its decision to lift the previously imposed limits on cash withdrawals and foreign currency deposits for legal entities engaged in the import of essential goods and products. The letter emphasized that the limits would remain in place for legal entities importing other types of goods. The bank requested the Chairman to ensure that the aforementioned decision is implemented from that date onwards.

Cairo, March 8th, 2016 Mr./ Chairman of the Board, Central Bank's Governor, Regarding the limitations set for foreign currency deposit and withdrawal, I would like to explain that these limits might be lifted only for natural individuals. However, the existing maximum limits will remain in place for legal entities. Please note that this is a proposal subject to approval. Accept our highest regards, Taqarib Al-A'amir

The letter outlines the Egyptian Central Bank's efforts to support small and medium-sized enterprises (SMEs) by facilitating access to bank financing, with the aim of boosting production, achieving sustainable development, creating jobs, and reducing unemployment. The bank has issued instructions to enhance financing opportunities for SMEs, including setting a minimum credit portfolio for these businesses and offering reduced financing rates. Additionally, the bank is working to mitigate the high risks associated with lending to SMEs by improving the guarantee mechanism provided by the Credit Risk Guarantee Company and enhancing training programs for business owners.

On March 8, 2016, the Central Bank of Egypt decided to lift restrictions on cash deposits and withdrawals in foreign currencies for individuals while maintaining existing limits for legal entities. The decision took effect immediately, and banks were instructed to implement the necessary measures.

In light of the challenging economic circumstances in Egypt and their impact on the tourism sector, the Central Bank of Egypt issued an initiative to support tourism sector employees with consumer and mortgage loans by allowing banks to postpone their payments for 6 months without late interest. This decision does not classify these loans as non-performing, and banks must update customer data and verify their current employment within the tourism industry.

As per the Central Bank of Egypt's announcement, the Egyptian government and the CBE had held a meeting to discuss the current financial situation and ways to support the economy. The Central Bank of Egypt also clarified that banks are allowed to reschedule consumer loans for individuals whose main source of income is from tourism-related activities, such as hotel staff, travel agencies, and tourism companies. This measure applies only to those who were directly affected by the decline in tourist activity, not including those with secondary incomes. The CBE explained that banks must examine their clients' data and verify the information provided by individuals whose livelihood depends on these industries: hotels, tourist projects, transportation services, food and beverages, and aviation companies. Moreover, banks are required to communicate this decision to the Central Bank of Egypt ahead of time before implementing it. The CBE is also accepting a higher percentage of guarantees from banks for businesses affected by tourism decline. In addition, the CBE has decided that banks should extend credit facilities to support the tourism industry in Egypt. This is done with the intention to protect and strengthen the Egyptian economy during these difficult times. As a result, there will be an increase in the loan-to-deposit ratio for banks up to 90% by September 30, 2016, without counting interest benefits from this period. In a nutshell, the Central Bank of Egypt has taken several measures to support the Egyptian economy and especially the tourism industry during these challenging times. They have decided to give more flexibility to banks regarding rescheduling loans for individuals who work in the tourism sector, such as hotel staff, travel agencies, and other tourism-related businesses. This decision aims to provide temporary relief to those individuals whose income sources are primarily from tourism activities that have been negatively affected due to the decline in tourist activity. The CBE also instructed banks to update their clients' data and verify the information they receive about their current jobs, which need to be part of the affected industries: hotels, tourist projects, transportation services, food and beverages, and aviation companies. Banks are obligated to report this decision to the Central Bank of Egypt ahead of time before implementing it. Moreover, the CBE is ready to accept a higher percentage of guarantees from banks for businesses affected by tourism decline. It is also offering an extension of credit facilities to support the Egyptian tourism industry in order to protect and strengthen the overall economy during these difficult times. As part of this effort, there will be an increase in the loan-to-deposit ratio for banks up to 90% by September 30, 2016, without considering interest benefits from this period.

The Central Bank of Egypt has issued a clarification notice concerning the implementation of the financial inclusion strategy in the banking sector. According to this notice, the Central Bank of Egypt will implement the following: 1) Starting from January 1, 2016, the government will gradually reduce its subsidy on lending and direct financing (the SME Fund) without affecting existing commitments as follows: a) Providing loans or direct financing to new businesses is considered a part of the SME Fund capital. b) The increase in outstanding loans and direct financing provided by the Central Bank of Egypt is considered as the SME Fund's base capital, excluding the previously mentioned reduction amount. 2) As for the outstanding loans and direct financing provided to small and medium enterprises (SMEs) before this date, they will continue to apply interest rate margins as specified in the Central Bank of Egypt's board resolution dated December 16, 2008, with reference to the new definition of such debtors, as stipulated by the Central Bank of Egypt's board resolution dated December 3, 2015. Furthermore, issuing new direct financing to these borrowers for liquidity purposes is allowed. 3) Every bank must establish specialized units to manage SMEs and retail banking services, and fulfill their commitment to provide adequate training and development programs for those entrusted with this task. 4) The importance of the role of the Egyptian Central Bank and affiliated institutions under the Ministry of Trade and Industry in training and developing skills of those entrusted with these tasks is emphasized by adding to this role. This includes cooperating with the Arab Federation for Small and Medium Enterprises in preparing specialized programs for SMEs, as well as increasing the number of specialized programs aimed at employees working at banks. 5) To ensure the continued implementation of the Central Bank of Egypt's board resolution dated December 16, 2008, it is necessary for banks to cooperate with the Central Bank of Egypt within a **set period** leading up to February 2016, in order to apply this resolution by the end of January. It should be noted that there will be an effort to motivate lending to SMEs effectively. Kindly agree on implementing the mentioned strategy. And we kindly request your approval of implementing the aforementioned **strategy**."

The Central Bank of Egypt has recently announced a series of measures to strengthen public confidence in the national economy and regulate import transactions and foreign investments. These include setting an upper limit for foreign-currency deposit by banks, which should not exceed USD 10 billion or its equivalent in foreign products per day, with no daily cap for imports of essential goods and medicines. The Central Bank's Board of Directors agreed at their January 2016 meeting to: 1. Increase the upper limit for foreign-currency deposit by banks from USD 250 million per day (or its equivalent in foreign products) to a maximum of USD 250 million daily, to be used for essential goods and raw materials, consumer durables and raw materials including food staples and agricultural inputs. Any surplus of the daily limit will be directed towards import operations as part of the total upper limit for foreign-currency deposit in the following month. 2. Maintain the regulations related to setting an upper limit for foreign-currency deposits at USD 10 billion or its equivalent in foreign products per day, without any change to: a) Individuals. b) Foreign investors.

The document is a letter from the Governor of the Central Bank of Egypt to the Chairman of the Board of Directors of a bank, informing them of a decision made by the Central Bank's Board of Directors on January 20, 2016, to enhance confidence in the national economy and regulate foreign currency transactions. The decision includes increasing the maximum limit for cash deposits in foreign currencies for legal entities to USD 250,000 per month for importing essential goods and products, such as food items, production machinery, and pharmaceuticals. The letter also mentions that the previous instructions regarding a maximum limit of USD 10,000 per day and USD 50,000 per month for cash deposits in foreign currencies by individuals and other legal entities remain unchanged.

The letter discusses the Egyptian Central Bank's interest in small and medium-sized enterprises and the role of banks in financing these companies. It mentions a 2008 initiative by the Central Bank to encourage banks to finance small and medium-sized businesses and the need for a unified definition of these companies to provide accurate data. The letter also mentions amendments to existing regulatory instructions and the need to develop specialized departments for financing small and medium-sized businesses within banks.

In January 11, 2016, the Central Bank of Egypt's Board of Directors decided that banks should limit their loans for personal purposes, including mortgages and consumer loans, outside the scope of Law No. 148 for the year 2001, which was replaced by the Mortgage Law No. 148 for the year 2001. They have decided that these types of loans should not exceed a combined percentage of 35% of their monthly income after tax deductions and social security contributions. This percentage is set to increase to 40% if they are issuing mortgages for residential property in accordance with Law No. 148 for the year 2001. Banks must take this decision into consideration while operating.

The Governor of the Central Bank of Egypt, Hisham Okasha, addressed that in reference to amending the rules which apply to banks in relation to Money Market Funds. In a board meeting on January 6, 2016, he stated that certain guidelines were revised: - Increase the upper limit for investments in money market funds and fixed income securities issued by central banks or government-affiliated institutions from 5% of total assets to 7.5%, and reduce the upper limit for capital adequacy ratio from 12% to 9.5%. This change was implemented on December 18, 2012, following a decision by the Central Bank's board concerning the lower capital threshold. - Banks are now required to complete customer due diligence (CDD) procedures for all their employees in accordance with anti-money laundering and terrorist financing regulations. - Banks that violate the established limits must immediately issue new shares or securities until they comply with these restrictions."

التعرية هى إنشاء مخزن للمال والتجارب في مخزن متخصص للغرض. التعرية تكون عملاً فقط، وهى في الواقع منظمة حيث تحتوى على بساطة أدوات ومادة وأدوات إضافية. التعرية الشهيرة هي "كاف"، حيث تتخذ أساسًا منظومة للتعرية القديمة بإضافة أجزاء أخرى. تتم تنفيذ التعرية بالتركيز على الوثائي والآد والتواق. عبة المنق هذ الطب، يحظ أجزاً مخزن حا أسط. تعري التواق على إضافة أدوات إضافة حا أسط. المنق هو مكن يكث عبة للمال والتجارب، وبت المننق يكث عبة للإدة والأب حا أسط. "إنش تعري وهذ الطب". عبة المننق هو مكن يكث عبة للمال والتجارب، وبت الالمننق يكث عبة للإدة والأب حا أسط. "تعري عبة المننق عبة المننق هو مكن يكث عبة للمال والتجارب". عبة المننق هو مكن يكث عبة للمال والتجارب، وبت الالمننق يكث عبة للإدة والأب حا أسط. "إنش تعري وهذ الطب". عبة المننق هو مكن يكث عبة للمال والتجارب، وبت الآد والأب حا أسط. "إنش تعري وهذ الطب". عبة المننق هو مكن يكث عبة للمال والتجارب، وبت الآد والأب حا أسط.

In a letter to the Chairman of the Board of Directors of a bank, the writer refers to a previous communication from the Central Bank of Egypt regarding amendments to the regulations for Money Market Funds. The Egyptian Central Bank's Board of Directors has decided to modify the instructions, including setting a maximum limit on the total amount of funds that can be invested in Money Market Funds and Fixed Income Funds. The letter emphasizes the importance of ensuring that only the bank's clients subscribe to these operations and requests the bank to halt the issuance of new investment documents until compliance with these limits is achieved.

The letter, dated January 11, 2016, is addressed to the Chairman of the Board of Directors of a bank, informing him of the recent decision made by the Egyptian Central Bank's Board of Directors regarding consumer loans. The decision sets a limit on the total monthly loan installments for consumer loans and personal housing loans as a percentage of the borrower's monthly income, in an effort to mitigate risks and maintain loan portfolio quality. The bank is requested to take the necessary steps to comply with the decision.

الاقتصادين أودوا مراجعة بعض شروط مبادرة التمويل العقاري لمحدودي ومتوسطي الدخل الصادرة. هذا هو بوابة جديدة أن تعالج كثير من شخصيا غير محدودين الدخل. وقد تم إزالة العديد من التعهدات الخاصة بـ "الطـارق عامـر" وتعديلها ليصبح: 1. إضافة شريحة عمالء جديدة تحت مسمى "فوق المتوسط". هذه النظام يسمح للعمال غير محدودين الدخل أو للفرد والجمية بشراء منازل. 2. السماح للبنوك بتغطية مخاطر إذا تم تصحيح دخلهم. وقد تم عزل بعض الشركات عن التأمين الجماعي إذا لم يتم إثبات دخلهم على الصالة. 3. تعديل **البند (٥**) ليصبح " السماح ببيع محافظ البنوك أو شركات التمويل العقاري الناشئة تحت مظلة المبادرة" . 4. اعتبار وديعة الصيانة بالنسبة لشريحة محدودي الدخل جزء من التمويل يسدد على نفس المدة وبنفس العائد الخاص بالمبادرة بشرط قيام صندوق اإلسكان االجتماعي بإيداع تلك الوديعة في حساب خاص باسم اتحاد الشاغلين ُيدار بواسطة الصندوق لحين تأسيس اتحاد الشاغلين لكل مشروع / مجموعة وحدات ويستخدم عائد الوديعة في الصرف لشركات الصيانة التي سيتم التعاقد معھا. 5. إعفاء البنوك من رد قيمة الدعم إلى البنك المركزي المصري في حاله وفاة **المقترض**. وجميع أهمية تغيير هذه القواعد وإعادة رئيسة هو تح بع هذ الاخد. بال، تفض لعم محدون الدخ.

The letter, addressed to the Chairman of the Board of Directors of a bank, refers to the real estate financing initiative for low and middle-income individuals launched on February 19, 2014, and subsequent periodic books. The Central Bank of Egypt has decided to amend the conditions of the initiative, including adding new income brackets to benefit more individuals, offering long-term financing at low rates, and involving mortgage financing companies directly to work with banks to ease the burden on them. The letter also outlines several amendments to the terms of the real estate financing initiative for low and middle-income individuals, such as adding a new customer segment called "above average," setting maximum income and property value limits, and allowing banks to cover credit risks through group insurance policies.

According to the Central Bank of Egypt, it announced that it will not allow banks to finance foreign trade transactions after January 1, 2022, except for certain transactions such as importing commodities for non-trade purposes or export-related transactions. It is important to note that this decision does not include the use of letters of credit issued by banks for the purpose of guaranteeing imports, and does not apply to exports. In addition, it was decided that there will be no more financing of trade importation transactions whose purpose is to finance trading activities with 100% foreign currency funding, as per the instructions of the Central Bank of Egypt Governor's Circular No. 9 dated January 14, 2013, and the decision allows for the financing of the following: - Importing non-trade goods. - Basic food and consumer items. - Pharmaceuticals, medical supplies, and infant formula. The Central Bank of Egypt requests that you comply with this **decision**. Also, accept our highest regard towards "your country"

مؤذون: - تمكن البنوك المصرية من الإيجاء قطاع عمليات السداد للشركات التي تهتم بتصدير وتصنيع والخدمات الأخرى. - وتطبق هذه الإجراءات مؤقتًا، لكن البنك المركزي المصري يتحي ويعد أن سيتم إعادة تمويل العمليات السدادية مؤقتًا. - بالنسبة للعمليات الجديدة أو المفعول بها على تأكد أنها تتطلب إعادة التمويل، قد يتم تقييد تمويلها. - ومن المراجعين الرسميين أن البنك المركزي سيقوم بإعادة تمويل عمليات االستيرادية التي تتم شحنًا غير التجارة من أجل ضخات 2013 إلى حد أقصى 31 ديسمبر 2015. - وتعيين القيامة بإعادة تمويل العمليات الستيرادية للسلع الأخضر والمواد والمنتجات بغمراض البيع للشركات على حد أقصى. - إذً اعتمد البنك المركزي على إعادة تمويل مجموعة مختلفة من العمليات االستيرادية. ## 4"

In an effort to boost the national economy and promote local products, the Central Bank of Egypt has issued a decision to restrict the execution of import transactions based on collection documents to those received directly by banks through foreign banks, excluding those received directly by clients. Additionally, banks are required to obtain a 100% cash collateral for documentary credits opened to finance the import of goods for commercial companies or government entities, with exceptions for certain imports such as medicines, vaccines, and baby milk. These measures are effective for import transactions from January 1, 2016 onwards.

The letter, dated February 23, 2016, is addressed to the Chairman of the Board of Directors of a bank in Cairo, Egypt. It refers to a tourism sector support initiative launched in March 2013 and subsequent circulars, highlighting the importance of the tourism sector to the Egyptian economy. The Central Bank of Egypt's Board of Directors has decided to amend the terms of the initiative, allowing for the deferral of all existing obligations for up to 3 years and providing guidance on the treatment of regular and overdue payments during this period. The letter also emphasizes that the initiative's guidelines are advisory, and banks are expected to study each case individually and make appropriate decisions.

In February 2016, the Governor of the Central Bank of Egypt and Chairman of the Board of Directors, in consultation with all relevant parties, agreed to make changes to the regulatory framework. These changes will allow: 1) The rescheduling of all overdue facilities (either extended or restructured), deferring principal repayments for up to three years, based on each bank's individual circumstances and without considering any benefits of delaying these payments. This applies to the entire period since the Central Bank's establishment. 2) The non-consideration of pre-established facilities in excess of those set by law when it comes to granting each free bank the flexibility to adjust its required facilities and avoid receiving returns for up to three months during this period. 3) A moratorium on new funding requests to extend facility repayments for up to three years, with a maximum ceiling. The Central Bank will treat these limits as guiding principles that banks must examine individually and make appropriate decisions concerning them. 4) Continuation of existing educational requirements without amendment in areas not covered by the revised legislation. They have kindly accepted the **highest appreciation**

The letter, dated January 27, 2016, is addressed to the Chairman of the Board of Directors of a bank and concerns import transactions and related regulations. It clarifies that import transactions based on collection documents must be executed through collection documents received by banks directly from foreign banks, with client-received documents not being accepted. It also outlines exceptions to the requirement for 100% cash collateral for import transactions and provides details on import financing restrictions.

بسبب الانتشار المتزايد للخسائص والتكلف الحقيقية في مجالات الإنتاج والتعبير ، وحيث انهز أغلب مشروعات تنفيذ المصاري الصغير والكبار بنسبة 60% في عام 2015 ، قام الهيئة المختصة بإطلاق أعمال جديدة لتحسين تنفيذ مشاريع الكويت المصرية. 1. **تأثير أسنار عائد:** تطبق أسنار عائد ُمخفضة )تحسىي علىى أسىات متنىاقص( يوجد شكل أسنار العيوب والخسائص الجديدة للنمال المحلية المغظورة. بالإضافة إلى مؤقتهم، ويجب التأكد من استعدادهم لتحديد هذه الشكل. 2. **السداد على أصل القرض وسداد النائب:** البنوك تسدد أصل القرض على أقساط ربع سنوية، ويتم سداد النائب بصفة شهرية. 3. **الزم بالقار:** تم تحي أعو خط لتكال بعث تحي الزم بإضار القر عند قار فئة مجمية وذل التقد. 4. **توج إصال الخم:** يصل أغلب الخم بالتحف. يطل عله إحت أسبار منطق الخم. هذه، و تم تحي شكل جد لتشير الصن والزراء العلة تنظر الكث. تحون أن الصن والزراء ست تشير إلى إخات مجمية وإحات عقد فئات مغلية جدً. هذ، و تم تحي الاستيا بالتحف. بالتحف ، إذ تحون أن الصن والزراء ست تشير إلى إلى قوات مجمية والقار. هذ المجمات هي تأم تحون أن الصن والزراء ست تشير إلى إلى قوات مجمية والقار. إذ يقض عله إخات مجمية والقار في الكث والزراء. إذ تحون أن أغلب الخم والزراء ست تشير إلى إلى إخات مجمية والقار. هذ، و يطل عله أن أغلب الخم والزراء ست تشير إلى إلى إخات مجمية والقار. هذ، و تم تحون أن الصن والزراء ست تشير إلى إخات مجمية والقار. هذ، و يطل عله أن أغلب الخم والزراء ست تشير إلى إخات مجمية والقار. هذ، و تم تحون أن أغلب الخم والزراء ست تشير إلى إخات مجمية والقار. 5. **تطيل عله إخات مجمية والقار:** بالتحف، تطيل عله إخات مجمية والقار. تحون أن أغلب الخم والزراء ست تشير إلى إخات مجمية والقار. هذ، و يطل عله أن أغلب الخم والزراء ست تشير إلى إخات مجمية والقار. هذه، و تم تحون أن أغلب الخم والزراء ست تشير إلى إخات مجمية والقار. هذ، و يطل عله أن أغلب الخم والزراء ست تشير إلى إخات مجمية والقار. 6. **تطيل عله إخات مجمية والقار:** بالتحف، تطيل عله إخات مجمية والقار. تحون أن أغلب الخم والزراء ست تشير إلى إخات مجمية والقار. هذه، و تم تحون أن أغلب الخم والزراء ست تشير إلى إخات مجمية والقار. هذه، و تم تحون أن أغلب الخم والزراء ست تشير إلى إخات مجمية والقار. 7. **تطيل عله إخات مجمية والقار:** بالتحف، تطيل عله إخات مجمية والقار. تحون أن أغلب الخم والزراء ست تشير إلى إخات مجمية والقار. هذه، و تم تحون أن أغلب الخم والزراء ست تشير إلى إخات مجمية والقار.

In a letter dated February 22, 2016, the author informs the recipient of amendments to the guidelines for import transactions, following a letter from the Governor of the Central Bank of Egypt dated December 21, 2015, and subsequent discussions with relevant entities. The amendments include changes to the conditions for import transactions based on collection documents and an exception to the 100% cash insurance requirement for essential goods such as food, production equipment, and medicines. The recipient is requested to take note and act accordingly.

In a letter dated February 9, 2016, the author refers to a law that amended Article 116 of the Central Bank and Banking System Law, which states that the entry of foreign currency is guaranteed for all travelers, provided it is declared on the appropriate form if it exceeds $10,000 or its equivalent in other foreign currencies. The author also mentions instructions from the Central Bank of Egypt regarding maximum limits for cash deposits in foreign currencies for individuals. The letter emphasizes that banks are allowed to accept cash deposits in foreign currencies from individual travelers entering the country, within the limits declared upon entry, provided that proof of declaration is presented and stamped by the bank as confirmation of the deposit.

The Central Bank of Egypt has issued an initiative to encourage banks to provide facilities for small and medium-sized enterprises, with a particular focus on reducing interest rates for these companies. The initiative includes a decision by the Board of Directors to allocate 5 billion Egyptian pounds for medium-term loans to regular or newly established companies in the fields of industry and agriculture, with a maximum duration of 10 years. The interest rate for these loans is set at a fixed rate of 7% annually, with the possibility of revision by the Executive Management of the Central Bank of Egypt.

The Central Bank of Egypt allows foreign currency deposits for all incoming tourists, provided they are notified in advance. The limit will be increased up to USD 10,000 per person daily and a maximum of USD 50,000 monthly. In this context, banks will accept deposits from foreign tourists arriving in Egypt within the specified limits, in accordance with Article 116 of the Central Bank's Law No. 88 of 2003. This is to encourage tourism and improve the flow of foreign currency into the country.

The letter, dated February 14, 2016, is addressed to the Chairman of the Board of Directors of a bank in Egypt. It refers to Article 111 of the Law of the Central Bank of Egypt and the Banking System, which states that transactions in Egypt must be conducted in Egyptian pounds unless otherwise specified. The writer has noticed that some retailers have been offering discounts on purchases made with local currency credit cards through POS machines. The letter requests that the software on POS machines be updated to prevent discounts in foreign currencies for purchases made with Egyptian bank-issued credit, debit, or prepaid cards.

In a speech on February 14th, 2016, the Governor of the Central Bank of Egypt, addressed the issue of some businesses circumventing the Egyptian Pound in local transactions by using credit cards issued by banks within Egypt. He highlighted that this behavior was against the rules and regulations set out by the regulatory authorities for goods and services traded in EGP and violated international agreements or other laws. He emphasized on the urgent need to update the software used on Point of Sale (POS) terminals, either by the POS terminals themselves or a specific device linked to them, to enable them to accept foreign currency transactions within Egypt using credit cards or debit cards issued by Egyptian banks with EGP. This should also allow transactions in EGP or foreign currencies with credit cards or payment cards issued from banks outside of Egypt. He further added that the Central Bank would grant a grace period of two months to banks to update their POS terminal software.

The letter, addressed to the Chairman of the Board of Directors of a bank, communicates a decision by the Central Bank of Egypt regarding maximum limits for cash deposits in foreign currencies. It states that for companies engaged in exporting with import needs, the monthly cash deposit limit is increased to one million US dollars or its equivalent in foreign currency, provided that deposit amounts are proportional to import requests and that export proceeds in foreign currency are received within a maximum of three months. The letter emphasizes the importance of monitoring the implementation of these instructions and ensuring their effectiveness to maintain control over the execution of transactions.

The Governor of the Central Bank stated that, with respect to foreign-currency borrowing limits for businesses and their import requirements, two items are noted: Firstly, in terms of matching the size of borrowings with the import requests submitted by companies based on export revenues received by banks, and secondly, requiring foreign currency inflows by companies within a specified period of time that is not less than the value of their import expenses, which should decline compared to their export revenues. Should these conditions not be met by the bank, and if the client continues to default over an extended period, the Central Bank will designate the client as "defaulting," and all linked creditors must follow a clear process for managing this situation. This includes ensuring that all actions related to it are carried out before enforcing the order, making sure all referred operations are fully completed, and confirming complete implementation of the measures in question according to the stipulated date.

On November 12, 2015, the Egyptian Minister of Industry and Trade issued a decision to include rice on the list of goods subject to specific export regulations. This decision was based on a previous decree from the same year, which mandated that exporters of certain products must provide a bank certificate to the relevant customs authority prior to shipment. The letter also mentions a directive from the Governor of the Central Bank of Egypt dated April 28, 2013, regarding the implementation of export operations for these products.

Egypt's Minister of Trade and Industry announces rice export tax exemption as follows: On November 12, 2015, the Governor of the Central Bank of Egypt referred to Dr. Ahmed ElGarably's book, Deputy Governor of the Central Bank of Egypt (as of April 28, 2013), regarding the implementation of export operations for goods listed by the Ministry of Industry and Trade according to Decree No. 235 for the year 2013 through a bank. This is supported by providing a bank certificate to customs before shipping. A decision (No. 797) issued on October 31, 2015, has also added rice to the list of goods subjected to this provision. On July 4, 2016, Trade and Industry Minister Khairy Al-Bahari announced that Egypt's exporters will enjoy a tax exemption on exported rice starting from November 12, 2015. The tax exemption applies to rice with a tariff number (1006.30) under customs when an export fee of EGP 200 is levied. This regulation has been implemented in Egypt since the date it was issued."

برجاء مقابلة مع هذا النظام: النظام يحدد أن يتم إضافة خام بنك على التحويلات التجارية. ويحدد أن يتم إضافة مقدم التحويل (البنك) على التحويل وذلك بتقديم مقطع خاتم البنك على التحويل. قوموا بتقديم جزءًا من خاتم البنك على كل تحويل إضافة التحويل إلى القائمة بالرقم الرمزي (5018) وذلك يومًا. هذه تعليمات تدمج في منصة المركز عند "١٧ مايو ٢٠١٥". وبالإضافة لذلك، تحتاج أيضًا إلى اختبار التطبيقات والمعالجات السائبية. أرجوا استفادة من هذه التحديث واشتراك بـ "إلتزام تام" بعقود فائقة، والتفضل بالقبول. استمروا أيضًا بالتوجه لنظام 5018 وذلك على أن البنك يرد بحيث يتم النسخ في اليوم التالي. شكرًا لك على المتناهي إلى استكمال جميع النظوات والإدارة المتخصصة. وبالإضافة إلى ذلك، أرغب في إشعاع المؤسسات المستقلة في تلك المهمة. حسناً: | | x}אwhn{a8}אy8 | بنك | | | | | | | |------------|----------------------|----------------------------------------------------------------------------------------------------------|----------------|--------|-------------------|--------------|--------|---------------| | | يومي | ا | | | | | | | | | لاجنبية | | | | | | | | | | 5018 باللف دوالر 1 | dd/mm/yyyy | | | | | | | | | قيمة العملية | بلد المستورد | االيداع النقدي | اليومي | التجارى رقم السجل | الرقم الرمزي | للعميل | اسم العميل(2) | | مالحظات(3) | اسم المستورد | التصديرية بالمستندات "

The letter, dated May 13, 2015, is addressed to the Chairman of the Board of Directors of a bank in Cairo, Egypt. It concerns the monitoring of instructions regarding the maximum limit for cash deposits in foreign currencies at banks. The letter notes the negative impact on some companies that deal with importers in countries with limited transactions (Libya, Syria, Sudan, Palestine, Iraq, and Yemen), where transactions are made through cash deposits rather than bank transfers. It also references Article 116 of the Central Bank, Banking System, and Currency Law, which allows travelers to bring foreign currency into the country, with a declaration required for amounts exceeding $10,000 or its equivalent in other currencies.

Egypt's Central Bank Governor in October 2015 announced the following: The bank will gradually end its funding of businesses that rely heavily on foreign countries, primarily Libya, Syria, Sudan, and Yemen. This is part of a plan to reduce the reliance of Egyptian economy on imports and achieve self-sufficiency in certain goods. It will also include increasing the efficiency of Egypt's customs authorities by upgrading their systems according to a unified accounting model. In addition, the Governor stated that they will take necessary steps to fully implement these plans. The bank is expected to provide further details on this matter. He also thanked everyone for their respect and cooperation and ended his speech with "Hesham Ramez, Governor of the Central Bank of Egypt".

In a letter dated October 20, 2015, the Chairman of the Board of Directors of a bank in Cairo, Egypt, addresses the acceptance of cash deposits in foreign currencies from companies that trade with a limited number of countries (Libya, Syria, Sudan, Palestine, Iraq, and Yemen). The letter outlines conditions for accepting such deposits, including the requirement that the deposit amount corresponds to the value and nature of the exporter's business activities and relevant documentation. It also specifies the procedures for exporters to obtain final approval from the General Authority for Export Control and the Ministry of Trade and Industry.

In a letter dated August 30, 2015, addressed to the Chairman of the Board, the author, هشام رامز عبد الحافظ, discusses foreign currency transfer limits for Egyptian and foreign clients. He emphasizes that there are no restrictions on transfers derived from clients' self-generated funds, such as income or investment returns, as long as they adhere to the specified procedures. He also reiterates that Egyptian individuals are permitted to repatriate their savings to Egypt and subsequently transfer the same amount back abroad.

In August 2015, the Governor of Egypt's Central Bank addressed the following issue regarding foreign currency exchange: The Central Bank book No. 67 dated May 17, 2011 sets a ceiling for foreign currency conversion for individuals within the country; that is, up to USD $500 or its equivalent per person under normal circumstances. I request everyone to acknowledge what this book states - there is no restriction on individual exchange for foreign currencies as long as they ensure that the required amount of currency is derived from their own personal income sources, either salaries, investment returns, or previous foreign currency conversion by foreign banks within Egypt, with reference to my book dated January 6, 2014. I would also like to mention that according to my book published on February 4, 2013, individual Egyptians are allowed to exchange their local currencies into foreign ones from their personal accounts since February 10, 2013, provided they return the same amount of money in a foreign currency through the same bank account, with adherence to the regulations stated in my mentioned book. I kindly ask everyone for their understanding and respect. Hesham Ramez Abd El-Hafez (Governor of Egypt's Central Bank)

بشأن نسبة الرافعة المالي ه اد ، مثب أذب التعلات القد ، وجه أذب الإذة ، كا تعلات ضماً نسبة الرافعة المالية ، مثب أذب زاي أذب ، وجه أذب استحق ، نسبة التعلات ، مثب أذب 1- كا تعلات أذب استحق ، نسبة الرافعة المالية ، نسبة التعلات وضو هز ، مثب أذب أذب استحق ، نسبة التعلات ، مثب أذب 1. تعلات: أذب تعلات أذب وجه أذب 2. نسبة الرافعة المالية: نسبة الرافعة المالية 3. مثب أذب ، مثب أذب تعلات أذب وضو هز ، مثب أذب أذب استحق ، نسبة التعلات. 4. يمو أذب: تعلات أذب وجه أذب 5. مثب أذب: نسبة الرافعة المالية 6. قد أذب: حا ، إذ صلية تض بواسطة البنك 7. تعلات غير قابة لإلغ: نسبة التعلات غير قابة لإلغ ، ثب أذب ، وضو هز ، مثب أذب. 8. مثب أذب صلية: حا ، إذ في القد أذب 9. تعلات بالواسطة البنك: نسبة التعلات غير قابة لإلغ ، مثب أذب ، مثب أذب. 10. إذ تتحق أذب: حا ، إذ تتحق أذب 11. أض ضماً في التعلات: نسبة التعلات غير قابة لإلغ. 12. إذ أظب أذب: حا ، إذ تتحق أذب 13. مثب أذب: نسبة التعلات غير قابة لإلغ. 14. مثب أذب: حا ، إذ تتحق أذب 15. مثب أذب: نسبة التعلات غير قابة لإلغ. 16. إذ أظب أذب: حا ، إذ تتحق أذب 17. مثب أذب: نسبة التعلات غير قابة لإلغ. 18. مثب أذب: حا ، إذ تتحق أذب 19. مثب أذب: نسبة التعلات غير قابة لإلغ. 12- 15 : نسبة التعلات غير قابة لإلغ. مثب أذب: حا ، إذ تتحق أذب مثب أذب: نسبة التعلات غير قابة لإلغ. 16- 19 : نسبة التعلات غير قابة لإلغ. 12- 15 : نسبة التعلات غير قابة لإلغ. 16- 19 : نسبة التعلات غير قابة لإلغ.

The letter is addressed to the Chairman of the Board and discusses the implementation of international best practices in banking supervision, specifically the Basel Committee's requirements for minimum capital adequacy standards. The Central Bank of Egypt's Board of Directors issued instructions in December 2012 regarding the minimum standard for capital adequacy, and in February 2014, it provided a discussion paper on the leverage ratio to assess the adequacy of the first tier of the capital base compared to the bank's total assets, unweighted by risk. In July 2015, the Board approved instructions on the leverage ratio, requiring banks to maintain a minimum ratio of 3% on a quarterly basis from September 2015 to 2017 as a guideline and from 2018 onwards as a mandatory regulatory requirement. The letter emphasizes the importance of complying with these instructions to strengthen the banking sector's competitiveness and resilience against potential financial crises.

Dear Esteemed Professor / Chairman of the Bank's Board, I would like to refer you to the letter of His Excellency Governor on December 8, 2014 regarding the rules approved by the Central Bank Board at its extraordinary meeting on December 2, 2014 regarding opening small branches, as the aim is to encourage them to expand financial inclusion and serve more customers in areas where these branches will operate, contributing to promoting the concept of comprehensive financial inclusion. Accordingly, the Central Bank Board has approved, at its extraordinary meeting on April 8, 2015, the addition of providing banking services to small and medium-sized enterprises (SMEs) under the previously approved activities by the Central Bank's Board on December 2, 2014, as stated in His Excellency Governor's letter. I hope you accept my high regards, Sincerely, Dr. Tarek Fayed

The letter is addressed to the Chairman of the Board of Directors of a bank, informing him of the approval of new guidelines by the Central Bank of Egypt's Board of Directors regarding the opening of small bank branches/agencies. The goal of these branches is to encourage the expansion of retail banking services and reach a larger number of customers, contributing to the concept of financial inclusion. The Central Bank's Board of Directors has also agreed to include small and medium-sized enterprise banking services as an additional activity.

The Central Bank of Egypt's board of directors has approved a series of amendments to the structured lending system guidelines, which began on the issuance date of the bank's financial regulations and within a period of two years. According to article 3 of the Central Bank of Egypt’s Law No. 88 for the year 1966, the board may decide upon any amendments it deems necessary to be added to or subtracted from the system of lending rules and procedures. The approved changes include: - Reducing the maximum maturity period for structured loans and facilities (Article 3/2/5 and 8) - Increasing the supervisory role of banks on their borrowers in implementing the program, especially for those with a high concentration of deposits. This responsibility will be exercised under the oversight of the Central Bank of Egypt. - The Central Bank of Egypt will periodically study each borrower listed under the program and assess the capacity of employees to repay the loans and analyze future liquidity requirements needed to cover funding needs. - Quarterly reports on the borrowers registered in the program. - Within one year after the issuance date of this decision and annually thereafter, based on the applicable regulatory principles of the Central Bank of Egypt's Board of Directors, the system of guarantee fees for guarantees shall be reviewed, as well as the methods of calculating the interest rates applied to borrowers. The board also decided: - To require banks to coordinate with each other regarding implementing the program in order to avoid any conflicts that may arise due to the largest deposit holder. - Banks must conduct sensitivity tests on the impact of changes in key assumptions and the potential risks associated with such adjustments. - The Central Bank of Egypt shall supervise the implementation of the borrower’s recovery plan within a specified period and reduce the incentives for employees. These amendments come into effect from the issuance date of the financial regulations and remain in effect for a maximum period of two years, according to article 3/2/5 and 8) of Law No. 88 for the year 1966. The Central Bank of Egypt's Board of Directors has the authority to decide upon any amendments it considers necessary to be added to or subtracted from the system of lending rules and procedures according to article 3 of its own law. These changes are aimed at improving the efficiency of the banking sector while ensuring financial stability in light of the global economic crisis caused by the COVID-19 pandemic. They also aim at reducing any risks that might arise due to high levels of liquidity and large amounts of unsecured loans, which have been a major concern for many central banks around the world. The Central Bank of Egypt has displayed its commitment to maintaining the health of its banking system by taking these necessary steps toward ensuring financial stability within its jurisdiction.

The letter outlines an initiative by the Central Bank of Egypt to support the national economy and develop various economic sectors, with a focus on the industrial sector. The initiative provides guidelines for banks to deal with non-regular customers in the industrial sector, including considering their ability to repay debts and future cash flows. The letter also emphasizes the importance of sensitivity analysis and alternative plans to manage potential risks.

In a letter dated June 2, 2015, the Chairman of the Board of Directors of a bank addresses Mr. Hesham Ramez Abdel Hafez, expressing gratitude for his support for the tourism sector and extending the initiative to support it for another year, until the end of June 2016. The letter also mentions the extension of the application of the fourth item of the initiative, which pertains to reducing the return rate without a minimum commitment.

Ladies and gentlemen, Warm greetings and welcome to this important occasion. In light of the challenges faced by the tourism sector and its vital role in sustaining economic growth and employment, the Central Bank of Egypt has decided to extend the period of support for this critical sector until the end of June 2016. This extension includes the continuation of the fourth tranche of financing without interest or incorporating it into the salaries of employees, reducing service fees on credit cards, and maintaining low interest rates for personal loans. By the end of June 2016, with great respect, I would like to thank His Excellency Hisham Ramez, Governor of the Central Bank of Egypt, for his unwavering commitment and support in addressing these critical issues in a timely and appropriate manner.

In a letter dated May 13, 2015, the Chairman of the Board requests an extension of an exception for certain goods from the minimum cash collateral requirement of 50%. The exception, initially granted for 6 months, is extended for an additional 6 months until the end of December 2015. The letter emphasizes the need for compliance with the Egyptian Central Bank's lending guidelines and creditworthiness assessments.

In May 2015, the Governor of the Central Bank of Egypt stated that imports of certain goods including medicine, wheat, rice, animal feed, pesticides and agricultural materials, sugar in all forms, various livestock, and meat from various species will face a decrease in subsidies. The banks will determine the rate of subsidy reduction without any minimum limit, while respecting the export incentives provided by the Central Bank of Egypt. This process should continue until June 2015. This decision was preceded by an announcement on December 2015 that this policy would last for six additional months. Please be reminded to fully comply with what is stated in this speech, and I ask you to accept my highest regard and respect. Hesham Ramez, Governor of the Central Bank of Egypt.

On April 23, 2015, the Governor of the Cairo Central Bank Meeting referred to the directive to banks regarding the maximum amount for dollar deposits and other foreign currencies by no more than ten thousand dollars per day, fifty-thousand dollars per month. This measure was implemented to regulate financial transactions and to encourage investors not complying with the guidelines mentioned earlier, to deposit their foreign currency funds outside the banking sector within the allowed limits and then reassemble them back into customer accounts through banks for use in importing goods or settling debts in U.S. dollars. The governor also emphasized that all internal exchange transactions between bank customers must be consistent with previous guidelines, adhering to the "Know Your Customer" principle to verify the purpose of these exchanges and informed that such operations will be monitored regularly under the Central Bank's supervision and may lead to disciplinary measures in accordance with Article (135) of the Central Bank Law No. 88 for the year 2003, and that they are requested to give **high regard**.

The letter, addressed to the Chairman of the Board of Directors, refers to a meeting held with the heads of banks on February 4, 2015, regarding setting a maximum deposit limit for US dollars or their equivalent in other foreign currencies. The Central Bank of Egypt has observed attempts by some clients to circumvent these regulations by purchasing foreign currency outside the banking sector and depositing it into multiple accounts, and then consolidating and transferring it back to the original account for import-related transactions. The bank emphasizes the need for strict adherence to the instructions and the "know your customer" principle to ensure the integrity of the banking sector.

In a letter dated December 25, 2014, the Chairman of the Board of Directors of a bank in Cairo, Egypt, announces an extension of a tourism sector support initiative for six months, ending in June 2015. The letter also extends the application of the fourth item of the initiative, which pertains to reducing the return rate without a minimum commitment and excluding clients from settlements if the pricing falls below the lending and discount rate. These extensions are intended to support the Egyptian economy and stimulate various economic sectors, including tourism, which is considered a vital pillar of the country's economy.

Mr./Professor, Governor of the Central Bank of Cairo on December 25th, 2014: In a friendly greeting... Tourism is one of the most important and concentrated sectors of the economy and is a major source of foreign currency for Egypt. Therefore, the Central Bank of Egypt will support the tourism sector through several initiatives, including: - A 6-month period to support the tourism sector, ending in June 2015. - The fourth tranche of the initiative, which includes a reduction in interest rates without increasing operating costs and excluding employee salaries. These terms will be reviewed in June 2015, with the understanding that the guidelines provided by the Central Bank are guiding principles for banks to assess each case individually and make appropriate decisions accordingly.

The Chairman of the Cairo Stock Exchange in a statement on December 22, 2014 discussed the progress of the bank's retail initiative, mentioning an increase in customer deposits by 8.5 billion Egyptian pounds, and a growth of retail finance portfolio from EGP 3 billion to 4.5 billion. He also urged people to take this matter seriously and asked for their cooperation highly appreciating Hesham Ramez, the Governor of the Central Bank.

في رسالة مؤرخة 22 ديسمبر 2014، قرر مجلس إدارة البنك المركزي المصري تعديل الفقرة الثالثة من الشروط الخاصة بمبادرة تنشيط قطاع التمويل العقاري. تم تعديل الحد الأدنى للدخل الشهري للعملاء المستفيدين من المبادرة ليصبح 8000 جنيه مصري للفرد و10000 جنيه مصري للأسرة، مع عدم زيادة قيمة الوحدة محل التمويل عن 500000 جنيه مصري.

وافق مجلس إدارة البنك المركزي المصري على الضوابط التالية لفتح وكالات/فروع صغيرة للبنوك، والتي يجب على البنوك الالتزام بها عند التقدم بطلب لفتح هذه الفروع. يقتصر نشاط هذه الوكالات/الفروع الصغيرة على عمليات السحب والإيداع وتبادل العملات النقدية والعمليات المصرفية للأفراد. كما يجب أن يخصص مبلغ معين من رأس المال الأساسي لكل وكالة/فرع صغير، وتتقدم البنوك بطلبات فتح هذه الفروع خلال شهري فبراير/سبتمبر من كل عام.

In a letter dated December 8, 2014, the Chairman of the Board of Directors of a bank in Cairo, Egypt, communicates amendments to the regulations that banks must follow regarding money market funds and fixed-income funds. The changes include setting a maximum limit on the total amount of funds that can be invested in these funds, restricting subscriptions to the bank's clients only, and requiring existing subscribers who are not clients to regularize their status within six months. Banks that exceed these limits are instructed to stop issuing new investment documents until they comply with the regulations.

The Egyptian Central Bank, led by Governor Hisham Ramez, is taking several steps to ensure the stability of Egypt's financial system. These steps include: - Implementing prudential measures and guidelines for banks and supervising their implementation through on-site and off-site inspections, with a focus on consumer protection. - Providing liquidity support to banks facing temporary funding needs or those negatively affected by global events. - Strengthening the Egyptian pound's peg against other currencies to ensure the stability of Egypt's foreign exchange reserves and maintain the competitiveness of its exports. - The Egyptian Central Bank has a capital adequacy ratio (CAR) target of at least 10%, in line with Basel III standards. - Enhancing the transparency of monetary policy operations and providing more timely updates on the overall economic situation, especially on inflationary trends. - Strengthening the Bank's risk management framework, including stress testing, to ensure a resilient financial system in Egypt. - Developing a comprehensive plan for banks to deal with nonperforming loans, which includes the restructuring of debt and the sale of nonperforming loans to asset management companies. - Strengthening consumer protection regulations by introducing new rules on disclosing loan terms and ensuring that interest rates are not excessive. - Encouraging banks to provide credit facilities for small and medium enterprises (SMEs) and facilitate their access to financing through various instruments, such as guarantees or refinancing facilities. - Establishing a new financial supervisory authority to oversee all nonbank financial institutions, including investment funds, insurance companies, and stock exchanges. - Implementing measures to ensure the stability of Egypt's banking sector, including the establishment of a fund to provide emergency liquidity support to banks experiencing temporary funding difficulties or those negatively affected by global events. - Strengthening the regulatory framework for nonbank financial institutions, including investment funds and insurance companies, through new rules and guidelines.

In December 2014, the Governor of the Central Bank of Egypt announced changes to regulations regarding money market funds (MMFs). The changes included raising the maximum aggregate limit for MMF investments in both MMFs and bills linked to a total of 7.5% and reducing the minimum guaranteed fixed assets of the bank by half (from 2% of bank capital, whichever was lower). Secondly, it emphasized that only bank employees should be involved in these operations, and enforced KYC (Know Your Customer) procedures for non-bank brokers. Thirdly, it offered a grace period of six months to non-bank brokers to adjust their positions according to the new rules, if necessary. Lastly, it required banks that exceeded specified limits to stop issuing new securities until they complied with these conditions and requested the acceptance of these amendments from Hisham Ramez, Governor of the Central Bank of Egypt in 2014 after the departure of the previous governor on December 18, 2012, pursuant to Decree No. 95 for the year 1992 and its implementing regulations.

In a letter dated November 10, 2014, the Central Bank of Egypt allowed banks to exempt the following imports from the minimum 50% cash collateral requirement: medicines, baby formula, food staples, animal feed, fertilizers, meat and poultry, and sugar. Banks were given the freedom to determine the cash coverage ratio without a minimum threshold, valid until December 2014. In light of this, it was decided to extend the exception period for an additional 6 months until June 2015, subject to credit granting guidelines and credit studies conducted by each bank for its clients.

On November 10th, 2014, the Governor of the Central Bank of Egypt announced that the central bank would stop providing guarantees for specified imports. These included: 1. Pharmaceuticals and chemicals 2. Dairy products (children's milk) 3. Foodstuffs (wheat/oil/grains) 4. Fertilizers and pesticides 5. Meat and livestock 6. Sugar of all kinds This decision was taken without setting a minimum import coverage ratio, while considering the guidelines issued by the Central Bank of Egypt, as well as the risk assessment studies conducted by each individual bank in this regard, up to December 2014. The previous six-month period had seen an increase in import guarantees; however, with full compliance with these guidelines and appreciation for their importance, please accept my highest respects and regards. Hesham Ramez, Governor of the Central Bank of Egypt.

In a letter dated November 19, 2014, the author addresses the Chairman of the Board of Directors of a bank, referring to regulatory instructions issued by the Governor of the Central Bank of Egypt on September 24, 2014, regarding banks' handling of subscription processes on behalf of certain entities. The author clarifies that these instructions apply only to public subscription processes and do not include the establishment or increase of capital for closed companies.

Cairo, November 19, 2014: Dr. Hesham Okasha, CEO and Chairman of the Faisal Islamic Bank of Egypt, informed that the instructions issued pursuant to Governor's Regulation No. (6) dated September 24, 2014 regarding banks' receipt of public funds will still be applicable for the ordinary accounts only, with the exception that this does not include establishment and increase of capital of closed companies. He requested everyone's cooperation and respectfully, Jamal Nageh.

Here is the complete list you asked for in a table format, with English terms: | المتىجم على مستوى العامل بالإنك لـ CBE | المتىجم على مستوى العامل بـ CBE باللغة إنجليزية | بشكل خاص، يرج ذكر أي موضوع يتعلق بهذه الكلمات؟ | --- | --- | --- | | إدارة المخاطر | Risk Management | Risk appetite, risk strategy, risk assessment, risk monitoring etc. | | مستوى المخاطر الذي يمكن للبنك تحملها | Risk Appetite | Risk appetite is the level of risk that a bank is willing to accept or retain to achieve its business objectives. | | الخطة اللازمة لتنفيذ إجراءات المعالجة لتهديد أو عدد من التهديدات الذي يواجه نظام المؤسسة. وتتضمن الخطة بصفة | Remediation Plan | A remediation plan is a strategy or process that an organization follows to eliminate a problem or threat, and restore normal operations. In the context of a bank, this could refer to addressing issues related to financial stability, regulatory compliance, operational efficiency, customer satisfaction etc.| | ابَقاقيَة مستوى الخدمة | Service Level Agreement (SLA) | A service level agreement (SLA) is a formal document that outlines the level of service a bank promises to provide its customers. It defines the specific performance metrics, response times and penalties for non-compliance. An SLA helps ensure consistency in customer service delivery and provides a benchmark for measuring performance. | | تنفيذ العمليات المباشر ة(STP) | Straight Through Processing (STP) | Straight through processing (STP) refers to the automated processing of financial transactions without human intervention. This can improve operational efficiency, reduce costs and errors, and enhance customer satisfaction. In a banking context, STP may involve automating account opening, loan applications, payment processing etc. | | التدخل اليدوي في تنفيذ المعاملات/ الطلبات. | Back Office | The back office is the part of a bank that supports front-office operations, such as sales, trading and client services. It handles administrative tasks such as accounting, risk management, compliance, IT support etc. A bank's back office plays a crucial role in ensuring smooth operation and maintaining regulatory compliance. | الإختبار اليدوي المصمم لإستغلال نقاط الضعف فى هيكل النظام أو بيئة الحاسب الألى. | Penetration Testing | A penetration test (pen test) is a method used by security professionals to identify vulnerabilities in a computer system, network or software application. By simulating real-world attacks, pen testing helps organizations assess their cybersecurity posture and take proactive measures to protect against potential threats. In the context of a bank, this could involve testing the security of online banking systems, ATMs, mobile apps etc. |

The letter outlines the Central Bank of Egypt's plan to establish a general framework for information systems governance and risk management associated with the provision of banking services via electronic channels. The letter also includes the approved rules for the provision of banking services via the internet in the Egyptian banking sector, which apply to all banks registered with the Central Bank of Egypt that provide or wish to provide banking services via the internet.

Report on the following topics: 1. An analysis of credit risk concentration within the banking group and its impact on capital allocation for lending to corporates and mutual funds. 2. A report to the Board on potential losses attributable to individual large exposure items across all business lines, by type of counterparty and by geography. 3. Regular stress-testing exercise under adverse but plausible scenarios to assess the adequacy of the existing capital buffers. 4. Report on the results of sensitivity tests for credit risk concentration. 5. A report detailing the overall risk contribution of individual large exposures across all business lines. In addition, the Bank should submit a comprehensive annual financial and non-financial report (in Arabic as well as in English) containing but not limited to the following: 1. An analysis of credit risk concentration within the banking group and its impact on capital allocation for lending to corporates and mutual funds. 2. A regular stress-testing exercise under adverse but plausible scenarios, assessing the adequacy of existing capital buffers. 3. Results from sensitivity tests conducted on individual large exposures across all business lines. 4. A report detailing overall risk contribution from each of the aforementioned individual large exposure items across all business lines. 5. The Bank's annual financial and non-financial report should also include, but not limited to: a) Analyzing key performance indicators including Net Income, Return on Equity (ROE), and Efficiency Ratio, in addition to other important financial performance indicators. b) A comprehensive overview of the Bank's various operational functions including its main business activities such as retail banking services, corporate and institutional banking services, treasury activities, trade financing services, and any other services that it offers to its customers and clients. c) Detailing the Bank's various financial products and services offered by its different operational business units, along with their key features, terms and conditions of their use. d) A comprehensive overview of the Bank's overall strategic plans for the current fiscal year and its future projections and plans. e) The overall annual financial and non-financial report should also contain a section that discusses the Bank's overall performance against its set strategic objectives, targets, and goals. f) Detailing the Bank's overall risk management framework, including but not limited to: - i. Analyzing and assessing the Bank's overall credit risk concentration profile, and its impact on the allocation of capital for lending purposes within the banking group. - ii. Regularly conducting adverse but plausible stress-testing exercises, aimed at assessing the adequacy of the existing capital buffers. - iii. Performing regular sensitivity tests, targeted at identifying potential credit risk concentration issues that may arise in the future. g) Detailing the overall structure, organization, and governance mechanisms that are currently in place within the Bank. h) Discussing the overall adequacy of the Bank's existing capital buffers, by type of counterparty and geography. i) Lastly, the annual financial and non-financial report should also contain a section discussing the overall impact of the Bank's various business lines, on its overall financial performance, as well as on its strategic objectives, targets, and goals.

البنك المركزي المصري القاهرة في 2 سبتمبر 2014 السيد / رئيس مجلس الإدارة تحية طيبة وبعد،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،،

The letter, dated September 29, 2014, is addressed to the Chairman of the Board of Directors of a bank, informing them of the Egyptian Central Bank's instructions regarding a daily cash withdrawal limit of $30,000 or its equivalent in foreign currency for legal entities. It requests an exception for Egyptian diplomatic missions in certain countries, with the drawer officially authorized by the Ministry of Foreign Affairs, as per the attached list. The letter emphasizes the importance of adhering to these instructions.

In Cairo on September 29, 2014, the CEO/Chairman of Bank of Alexandria referred to the Central Bank of Egypt's guidelines stating that the maximum daily cash withdrawal limit for individuals is USD 30,000 or its equivalent in foreign currency, except for Egyptian diplomatic missions abroad. This means that the bank will be responsible for implementing these instructions, and the Ministry of Foreign Affairs must carry out this procedure. Please note full compliance with the previous statement. Kindly accept my regards, Hesham Ramez Abd **Al-Hafiz** Heads of Egyptian diplomatic missions abroad.

On September 24, 2014 in Cairo: The Governor of the Central Bank of Egypt/ Chairman of the Board of Directors of Banque Misr addresses the need for banks participating in this activity to request approval for any such operation up to a certain limit before entering it. This includes submitting an application, either in the form of a notification or a master agreement signed with the bank from which they will receive the funds. He emphasizes strict compliance with previous commitments and thanks for understanding and respect. Hesham Ramez, Governor of the Central Bank of Egypt.

On September 18, 2014, the chairman of the board of Banco de Egypt announced that the bank would continue not to abide by the Basel III requirements. He stated this decision was made after the approval from the Central Bank's board meeting on September 16, 2014, to maintain the current effective interest rates on customer loans. The statement comes amid the Egyptian Central Bank's commitment to enhancing consumer protection in the banking sector, increasing client trust, and developing the comprehensive balance sheet. The board decided not to apply Basel III requirements as stipulated by article 40 of the Central Bank, the monetary and banking regulation (article 17), which obliges banks to fully disclose interest rates and service fees' effective annual percentage rates for the services they provide. This decision requires banks to agree and apply effective annual interest rates on customer loans (Annual Percentage Rate Effective or APR) when contracting with certain suppliers, as these suppliers need loans to procure goods and services, which in this case requires a contract that specifies interest rates, its application, and disclosure. The regulation also forbids contracting or applying discounted or non-disclosed rates by banks or suppliers.

In a letter dated September 24, 2014, the Egyptian Central Bank communicates to the Chairman of the Board of Directors of a bank that banks wishing to engage in receiving subscriptions on behalf of certain entities must obtain prior approval from the Central Bank for each case. The letter emphasizes the need for banks to submit a request, along with a copy of the subscription prospectus and the draft contract with the entity, before entering into any subscription-receiving process. This regulation aims to monitor and oversee the activities conducted by banks, particularly in light of the expansion of subscription-receiving operations.

In a letter dated September 18, 2014, the Chairman of the Central Bank of Egypt expresses concern about banks' non-compliance with disclosure regulations set by the Central Bank of Egypt Law and the Monetary and Banking Act of 2003. To protect consumers and enhance customer confidence in the banking sector, the Central Bank's Board has mandated that banks must disclose the effective annual interest rates on their products, including deposits and loans, and that flat rates are prohibited. The letter emphasizes the importance of transparent and accurate disclosure of interest rates to customers.

The letter is addressed to the Chairman of the Board of Directors, informing him of the efforts made by the bank to overcome obstacles in implementing a housing finance initiative. It clarifies the meaning of a phrase in the housing ministry's decision and addresses complaints about the lack of awareness of the decision by new city authorities. The Minister of Housing and the Minister of Justice have issued directives to facilitate mortgage procedures. The letter also mentions the low utilization of the initiative by banks, especially for middle-income customers, and requests an update on any additional obstacles faced by banks.

Here is the English translation for your request: 1. The agreement of the investment company with Russia's state-owned Housing and Urban Development Corporation, or Rostekhnologii, stipulates that Russian defense contractors will sign agreements on leasing land for residential construction projects in newly built municipal districts. 2. As part of this agreement, the investment company is authorized to lease land for housing development projects within the territory of newly constructed municipal districts from Heynikha. 3. The state-owned corporation of Russia provides the necessary guarantees and implements these measures as specified in Article 60 of the aforementioned document. 4. The company's obligations do not exempt it from complying with Russian law or its by-laws on housing and urban development. 5. Heynikha, a state-owned enterprise of Russia, is authorized to lease land for residential construction projects in newly built municipal districts within the Russian Federation. 6. The investment company will make payments to Russia's Housing and Urban Development Corporation (Rostekhnologii) based on the terms specified in the agreements signed between the two parties. 7. If the investment company wishes to lease land for housing development projects within newly built municipal districts, it must comply with all provisions of the law governing the leasing process, as well as Russia's housing and urban development laws. 8. In order to submit an application for leasing a part of the pledged lands from Heynikha, the company must follow the instructions specified in paragraph 3 of this document. 9. The submission of the application is accompanied by sending a photo of the applicant to the relevant authority. 10. If the investment applications for the land lease submitted by the housing development corporations are approved, Rostekhnologii signs agreements on leasing the lands for three years according to the guidelines set forth by the Minister of Investment and according to the legal provisions governing land leasing. 11. The developer is exempt from paying a portion of the rent. 12. The company may apply to lease parts of the pledged lands from Heynikha with the condition that the required repayments are fully paid before the date of the lease application and the full amount of the loan is repaid by the time specified in the loan agreement. 13. This provision applies from the date of its issuance, and all relevant authorities will implement it as stipulated. Note: The above information has been extracted from the Civil Code of the Russian Federation, Article 60, and other related legislation. Please make sure to consult the official legal documents for the most accurate and up-to-date information.

In a letter dated August 19, 2013, the Chairman of the Board of Directors of a bank in Cairo, Egypt, Mr. Hisham Ramez Abdel Hafez, refers to a previous correspondence dated February 19, 2013, regarding an initiative for mortgage financing for middle-income earners. He mentions that the Central Bank of Egypt is keen to remove any obstacles that may hinder the achievement of the initiative's goals. To that end, he proposes an amendment to the first paragraph of the initiative's terms and conditions, suggesting that the maximum monthly income for middle-income individuals be set at 8,000 Egyptian Pounds, and for families at 10,000 Egyptian Pounds, with the value of the financed unit not exceeding 110,000 Egyptian Pounds. This amendment aims to ensure that the initiative reaches a larger segment of eligible applicants and contributes to the desired impact on the real estate market.

Esteemed Professor / President of the Board of Directors in Cairo on September 9, 1942: With reference to my book The Record of 91 February 1942, I would like to inform you that as a result of implementing the policy of activating foreign exchange reserves for repaying the external debt of Egypt under the British occupation in February 1942, we managed to reduce the deficit to its lowest level. This was achieved by increasing the foreign reserves due to the implementation of the policy to reduce the budget deficit from the equivalent of one hundred eleven Egyptian pounds to zero one Egyptian pounds after replacing the pound with a new one that had the same value in gold as the old pound and linking the new pound with the British pound at a rate of one Egyptian pound equal to one British pound. I appreciate your cooperation in this matter. Regards, Hesham Ramzy Abdel-Hafez

The letter, dated June 10, 2014, is addressed to the Chairman of the Board of Directors of a bank in Cairo, Egypt. It announces an extension of the exemption period for certain import operations, including meat, poultry, sugar, medicines, baby milk, and other essential commodities, from the minimum cash collateral requirement of 50%. This extension is valid for an additional 6 months, until the end of December 2014, with the condition that banks adhere to credit granting guidelines and conduct thorough credit studies for their clients. The letter concludes by requesting full compliance with the instructions provided.

The CEO of Cairo Bank, Hisham Ramez Abdel-Hafiz, announced an exemption for importing meat, poultry, and sugar along with certain goods, including medications and chemicals needed by the bank's clients in this regard. This exemption will last for six months, ending on December 2014. He also emphasized that banks must follow strict guidelines provided in his speech. The decision is a response to a previously agreed plan which includes an extension of import exemptions for meat, poultry, sugar, pharmaceuticals, and chemicals until the end of December 2014. This will help maintain a stable supply chain despite the current economic challenges.

The letter outlines the rules and procedures for a real estate financing initiative for limited and moderate-income individuals in Egypt. It includes details on the required messages and procedures for banks to follow when requesting funds from the Central Bank of Egypt, including the format and content of SWIFT messages. The letter also emphasizes the importance of staff awareness of the initiative's terms and conditions to ensure smooth implementation and maximize client benefits.

و هكذا يظهر التفصيل: - بشكل مثال: مستثنة 1 - يجب أن يكون لديك عدة قطع من الإبتكارات المخصصة من الحساب المؤقت: | Maturity date | Face Value of T-Bills | |----------------------|-------------------------| | 1------------------- | EGP 50.000 | | 2------------------ | EGP 100.000 | | 3------------------ | EGP 75.000 | | 4------------------- | EGP 250.000 | | 5------------------- | EGP 500.000 | | 6------------------- | EGP 1000.000 | والشيخة الثانية - تقدم مبلغًا من الحساب المؤقت: مبلغ المطلوب: EGP 500.000 ( وهو مبالغ الوارد لأكثر من جميع قطع الإبتكارات المخصصة ) - بشكل أمثلي: 1. سيقوم بالاعتماد على النظام Cmms الذي يعطيك رسالة إشعرية عندما يصل المبلغ في الحساب المؤقت. 2. سوف تأكد القسم المخصص من البنك المرآزي بأنه سيمسح بالضريبة الجمركية على المبلغ الذي تم فيه الإجابة. 3. سوف أصل الخزانة في الحساب المؤقت من قطع الإبتكارات المخصصة بالجمل ، وهي: | Maturity date | Face Value of T-Bills | |----------------------|-------------------------| | 1------------------- | EGP 50.000 | | 2------------------ | EGP 100.000 | | 3------------------ | EGP 75.000 | | 4------------------- | EGP 250.000 | | 5------------------- | EGP 500.000 | | 6------------------- | EGP 1000.000 | 4. ستأنفي بالرجوع لكل ما يقصد في الحساب المؤقت (من قطع الإبتكارات) لمدة ثلاثة أيام عن تلك الفترة. 5. سيمنح لك مجهزًا بالضرورة بتقطيع مشهدة (Soft Copy) إذا كان هنا ، ل أخ في الصي. 5. ستنف أنه سيح لك المركية (Tax Authority) بالتفيد مجهز (Hard Copy) إذا كان لك. و هذ يكون عن "هذ يظر التفصيل" بشب القسم الثانية: الأمثال - حس البنك المركية سير تقدم بالضرية الجمركية عند مبلغ المطلوب. و هذ تشير أنه سيح بالتفيد عند قسم مخص.

In a letter dated March 13, 2014, the Governor of the Central Bank of Egypt, Hisham Ramez Abdel Hafez, addresses the Chairman of the Board regarding the bank's role in setting regulatory standards to ensure the financial soundness and performance of banks. He reiterates that before a bank intends to contribute more than 5% of a company's issued capital, it must provide the Central Bank with comprehensive information about the company, including its purpose, shareholders, and management. The letter emphasizes the need for compliance with the Central Bank's decision of July 27, 2004, regarding investment limits in securities.

In a letter dated March 26, 2014, the Governor of the Central Bank of Egypt, Hisham Ramez, announces an amendment to the initiative to stimulate the real estate financing sector for low- and middle-income individuals. The amendment, decided at a meeting on March 20, 2014, adds housing projects for low- and middle-income individuals in various governorates to the list of projects eligible for benefits under the initiative.

Egyptian Central Bank (ECB) Governor Hisham Ramez issued a warm greeting and said: The Egyptian Central Bank plays a significant role in setting and enforcing regulatory standards that ensure banking safety and sound performance. The ECB requires banks to contribute 5% or more of their capital to any financial or non-financial joint venture if they wish to participate, as it aligns with the Central Bank's efforts before taking action to contribute information on these ventures within two months. This disclosure should include details about the purpose and main activities of the joint venture, names of shareholders and investors, information about original shareholders when existing shareholders join the venture, a designated CEO managing the joint venture, target bank participation percentage, expected returns, exit strategies, and ECB's guidelines on maximum exposure limits for banks investing in equities.

The Governor of the Central Bank of Egypt in Cairo, on March 26, 2014: Dear gentlemen, According to your request dated February 19, 2014, for amending the first tranche of the housing initiative targeting low-income and middle-income individuals in various governorates, which allows it to be applied in some housing projects, the Board of Directors of the Central Bank of Egypt, after convening on March 26, 2014, has decided to amend the first tranche of the initiative by adding housing projects targeting low-income and middle-income individuals in various governorates, which can benefit from this initiative. Kindly accept my deepest regards, Hesham Ramez Abd El Hafiz

Hisham Ramez Abdel Hafez, the Chairman of the Board of Directors, is writing to inform the recipient of the requirements for verifying the suitability of candidates for senior positions in banks, as per the Central Bank and Banking System Law No. 88 of 2003 and the decision of the Egyptian Central Bank's Board of Directors in its session held on April 6, 2004. He requests that the recipient submit the names of candidates for membership or chairmanship of the boards of sister or subsidiary banks abroad, or for the position of executive director of bank branches abroad, along with their CVs, statements, and declarations, to obtain prior approval from the Egyptian Central Bank.

Dear Sir / Chairman of the Board, Cairo in March 14, 2014: I would like to draw your attention to Articles 43 and 92 of the Central Bank Law and the Monetary and Credit Regulatory Authority Act No. 88 of 2003, as well as the Egyptian Central Bank's Board of Directors Resolution dated April 6, 2004 regarding the qualification criteria for bank board members, managing directors, and executive directors performing these functions. In light of this and previous requirements, banks are required to submit applications for each proposed member or chairperson of another affiliated or foreign bank's board, or for an executive director in branches outside Egypt. The application must include the applicant's personal resume, their financial status, and any special interests they may have, all for prior approval by the Central Bank of Egypt. I kindly request that you take note of this matter. Respectfully, Hesham Ramez Abdel Hafiz

The output table represents the probability of different events occurring at each level for both algorithms (Hill-Climbing and Random Search). Here, you can see that as the problem size increases, the success rate of finding the optimal solution using Hill-Climbing decreases significantly. On the other hand, the success rate of Random Search remains relatively constant across all problem sizes. For smaller problems (up to 40%), the success rate of Hill-Climbing is quite high, but as we go beyond this threshold, the chances of finding an optimal solution decrease dramatically. At 100%, both algorithms have a 100% success rate, which means they can always find the optimum solution for these problems. In contrast, Random Search has consistent performance across different problem sizes, with a slight improvement at larger scales (80-90% and above). This is because, as the problem size increases, the search space expands, making it more difficult to find an optimal solution using Hill-Climbing but not affecting the ability of Random Search to explore the entire search space. The results also show that even for very large problems (over 90%), there is still a chance for both algorithms to find the optimum solution, albeit at a much lower probability (around 14-15% for Hill-Climbing and around 20% for Random Search). Lastly, you can notice that the success rate of finding an optimal solution is always greater than or equal to the problem size percentage. This means that even when considering a small portion of the total search space (e.g., 30%), both algorithms have a chance to find the optimum solution.

The letter is from the Central Bank of Egypt to a bank in Cairo, dated March 6, 2014. It is a follow-up to a previous letter dated February 19, 2014, regarding the Central Bank's initiative to stimulate the real estate financing sector for low and middle-income individuals. The letter outlines the detailed rules and procedures for implementing the initiative, including the need for the bank to train its employees on how to prepare credit studies and assess the creditworthiness of clients, especially those with free professions. The letter also emphasizes the importance of establishing a mechanism for implementation and follow-up, as well as updating internal systems to align with the requirements of the initiative. The bank is requested to start implementing these measures from April 1, 2014.

The letter discusses the importance of the real estate sector in Egypt's economic growth and social development. It highlights the role of the banking sector in stimulating real estate financing, particularly for low and middle-income earners. The Central Bank of Egypt has decided to allocate EGP 10 billion for real estate financing with a maximum term of 20 years, targeting affordable housing projects for middle and low-income earners. The letter outlines the terms and conditions of the initiative, including fixed interest rates, eligibility criteria, and the role of the Real Estate Finance Fund. It also emphasizes the social responsibility of banks in supporting affordable housing and their commitment to the initiative's guidelines.

The Governor of the Central Bank, Hisham Ramez, has issued a directive banning all banks and real estate financing companies from participating in any form of capital increase for entities operating under this law. According to the directive, the following points are highlighted: 1. Banks and real estate finance companies must not use their liquidity to invest in shares of institutions operating under this regulation. 2. The Central Bank shall have the right to inspect and monitor the compliance of banks and real estate finance companies with all procedures and rules of this law, and take the necessary measures to ensure the application of these rules. 3. No more than 20% of the capital of the participating institution can be financed through the Central Bank's mortgage-backed securities program. 4. An agreement must be concluded between the banking institution and real estate finance companies, and all procedures and policies related to this regulation for financing institutions and their compliance with mortgage and loan requirements for clients. 5. It is prohibited by any circumstance for any branch of a bank or newly established real estate finance company under this law to buy shares of said companies. 6. Within the framework of this regulation, the Central Bank shall have the right to audit (a) the capital adequacy of banks **their own** based on the prudential regulations and guidelines for setting the minimum capital adequacy ratios for banks and the required reserves based on the unified regulatory system for determining the appropriate market value of mortgage loans and commercial real estate, with a maximum period of five years instead of three. 7. It is mandatory for a competent entity supervising and monitoring banks to establish clear procedures and special rules for implementing these regulations. I kindly request you to pay attention to taking the necessary measures in this regard. And please accept my highest regards, Hisham Ramez, Governor of the Central Bank.

In a letter addressed to the Chairman of the Board, the Governor of the Central Bank of Egypt, Hisham Ramez Abdel Hafez, announces an extension of a tourism sector initiative until December 2014. The letter highlights the importance of tourism to the economy and foreign currency earnings. It includes the addition of air transport to the scope of the initiative and emphasizes that the banks will study each case individually to make appropriate decisions.

The Chairman/President of the Board of Directors of Bank Al-Ahli, Mr. Hesham Ramez Abdelhafiz, announced the conclusion of the Central Bank's initiatives to support the hotel and tourism industry in Egypt by March 2015. This marks a significant chapter for the tourism sector as it is one of the most important sectors in terms of its contribution to the economy and being an essential source of foreign currency. The initiative involved several areas, including the addition of transportation services for tourists, the expansion of hotel and tourist projects, travel and booking agencies, tourism airline services, restaurants, beverages, and recreational activities in tourist areas. The plan aimed to reduce service costs without compromising quality or adding staff expenses, as per March 2015 figures. The initiative's guidelines allow banks to explore ways to assist companies based on their unique situations and make suitable decisions regarding them.

In reference to your letter dated June 16, 2013, with the reference number 306, regarding the exemption of meat, poultry, and sugar imports from the minimum 50% cash coverage requirement, and the freedom given to banks to determine the cash coverage ratio without a minimum limit. In addition, the exemption of imports of the following goods from the 50% minimum cash coverage requirement: drugs, sera, and related chemicals; baby milk; food commodities (wheat, oils, and grains); animal feed (corn, soy, and other requirements); and fertilizers and pesticides. This exemption is valid until the end of December 2013, provided that the banks' lending guidelines and credit studies are taken into account.

The CEO/Chairman of the Bank of Alexandria thanked and acknowledged the approval by the Central Bank of Egypt for allowing commercial banks to import a wide range of goods, including foods and agricultural products, under the lowest possible tariff for mature citizens. This includes pharmaceuticals, dairy products, foodstuffs (wheat, edible oils, and grains), animal feeds (corn, soybeans, and other commodities), fertilizers, and pesticides. The Bank of Alexandria will maintain the flexibility to adjust tariffs without the lowest possible limit being breached, while prioritizing the export credit guarantees provided by Egypt's Central Bank. This agreement extends until December 2013.

Dear Chairman of the Board, I would like to inform you about the following: As per my announcement on February 5th, 2013, I emphasized the necessity of prioritizing handling foreign exchange operations for some import transactions. The Central Bank of Egypt continues its policy in dealing with the foreign exchange market in Egypt and focuses on ensuring the availability of foreign currency to various economic sectors. Accordingly, it is crucial to prioritize the management of foreign currencies for individuals (natural persons), who have witnessed a decline in their individual foreign exchange allocations since August 1, 2013, within those limits. I would like to express my utmost respect, Hisham Ramez

In a letter to the Chairman of the Board of Directors of a bank, the writer refers to a previous communication dated February 5, 2013, regarding prioritizing foreign currency allocation for certain import operations. Continuing the Central Bank of Egypt's policy of monitoring the foreign exchange market in Egypt and ensuring the efficiency of the foreign currency market, the writer requests that priority be given to providing foreign currency to clients (natural individuals and legal persons) who have relinquished their foreign currency proceeds from August 1, 2013, onwards, and within the limits of the amounts relinquished.

The letter requests the opening of an account for receiving donations and deposits from citizens and corporate entities, with specific instructions regarding transaction fees, transfers, and the handling of foreign currency deposits. It emphasizes the need for prompt action and communication to all branches regarding the account's purpose and the acceptance of deposits.

Dear Esteemed / Chairman of the Board, I would like to express my appreciation for your excellent service and commitment towards supporting our national banks. I would also like to thank you for your cooperation in achieving the targets set by Egypt's Central Bank (CBE) in coordination with international organizations. The Egyptian Central Bank has recently accomplished the following: 1. No deductions from interest earned or any fees were made on incoming transfers to the aforementioned account. 2. Maintaining a net balance for the domestic and foreign banks without deducting any interest earned or fees on incoming transfers within their accounts. 3. Completely covering the CBE's obligations under the agreement signed with international financial institutions (SWIFT), which amounts to EGP 360 billion by November 4, 2020, and has facilitated the completion of the country's economic program. I would like to express my sincere thanks for your unwavering dedication and support, and I look forward to continuing this successful collaboration with you in the future. Sincerely, Jamal Naguib

In a letter dated June 16, 2013, the Egyptian Central Bank instructed a bank's chairman to comply with international practices and the current circumstances by developing an emergency plan to maintain sufficient cash reserves to sustain operations for at least 5 working days. The letter also emphasized the need to provide minimum reserve amounts in all branches, considering geographical distribution according to the bank's network, to meet the needs of different governorates and avoid concentration in the Greater Cairo area.

Dear Mr. Chairman, I would like to bring to your attention the decision issued by the Central Bank of Egypt on November 6, 2012, regarding a temporary exemption for importers of various goods from certain minimum foreign exchange thresholds until the end of June 2013, with an additional six-month period expiring in December 2013. This decision was made considering the need to support local businesses and prioritise domestic production, while ensuring that credit facilities remain available for exporters. The Central Bank has decided to include various goods under this exemption: pharmaceuticals, food commodities (wheat, corn, rice), agricultural products (cotton, sugar), industrial raw materials, petroleum and petrochemical products, as well as some vital consumer goods. This exemption is granted until the end of June 2013, with an additional six-month period expiring in December 2013. The exemptions are made for importing companies, not exporters, and are subject to maintaining proper financial management and compliance with banking procedures. The central bank will continue to closely monitor the economic situation and may make changes based on the outcomes of ongoing economic studies. I would kindly request you to take note of this information and extend my sincere appreciation and gratitude." Hesham Ramsis, Governor of the Central Bank of Egypt.

In Cairo, on June 16th, 2013, The Governor/ Chairman of the Board of the Central Bank of Egypt, Addressing the banking system, he emphasized that it is necessary to fully commit to the following: - Suspend operations for at least five days to refill the bank's reserves. - Set a minimum required reserve ratio by adding to the current required reserve ratio from each branch of your branches according to the central bank's reserve requirements, taking into account regional distribution across the network of branches to meet local government needs and foreign exchange in Cairo.

هشام رامز عبد الحافظ، محافظ البنك المركزي المصري، يمدد فترة الاستثناء لعمليات استيراد اللحوم والدواجن والسكر والأدوية والأعلاف والأسمدة والمبيدات الحشرية لمدة 6 أشهر إضافية، حتى نهاية ديسمبر 2013. ويشير إلى دور البنك المركزي المصري في دعم الاقتصاد القومي وتوفير احتياجات السوق المحلي من خلال التجارة الخارجية. ويطلب الالتزام الكامل بما ورد في الخطاب.

The letter is addressed to the Chairman of the Board of a bank, informing him of the Central Bank of Egypt's decision to issue new guidelines for banks engaging in bancassurance activities. The letter outlines the requirements for banks to follow, including separating insurance and banking activities, maintaining transparency, and obtaining approvals from the Egyptian Financial Supervisory Authority. Banks wishing to engage in bancassurance must submit a request to the Central Bank and comply with the regulations within three months. The letter concludes with the Governor of the Central Bank of Egypt's signature.

The Central Bank of Egypt (CBE) has imposed a number of restrictions on banks participating in the financing of imports and foreign trade, as stipulated in Article No. 5 of its bylaw No. 273 for the year 1944. In light of this, CBE has called on banks to resolve outstanding cases with their clients before applying any new measures or changes in their client terms. The Central Bank's Board of Directors approved the amendment of Article No. 5 of its bylaw No. 273 for the year 1944, concerning the supervision and control of banks participating in foreign trade financing. According to this article, if a bank intends to cease such operations or change its relationship with importing or exporting clients, it should notify the Central Bank, through the Supervisory Department, at least three months before the planned date for implementation. The central bank has informed the banks that participate in foreign trade financing about the importance of complying with this new regulation and communicating any changes to their clients, especially since banks have a responsibility to maintain the stability of financial markets. In light of this new rule, the CBE emphasized the need for timely coordination between the banks and its clients regarding any forthcoming decisions related to foreign trade financing operations. CBE has announced that it will continue implementing this regulation in accordance with the Egyptian laws. The governor of the Central Bank is Hisham Ramez.

يطلب هشام رامز عبد الحافظ، رئيس مجلس إدارة البنك، من رئيس مجلس إدارة بنك آخر، تعديل قرار مجلس إدارة البنك المركزي المصري بخصوص الضوابط التي يجب على البنوك التي تنشئ صناديق أسواق النقد الالتزام بها. ويهدف هذا التعديل إلى ضمان سلامة أداء الجهاز المصرفي في ظل زيادة معدلات النمو في نشاط هذه الصناديق. ويقترح عبد الحافظ تخفيض الحد الأقصى لمساهمة البنك في مجموع صناديق أسواق النقد التابعة له، مع مراعاة تضمين مساهماته في صناديق الدخل الثابت. كما يشدد على ضرورة ألا يتجاوز الحد الأقصى لإجمالي حجم الأموال المستثمرة في صناديق أسواق النقد وصناديق الدخل الثابت التابعة للبنك نسبة معينة من إجمالي ودائع البنك بالعملة المحلية.

In May 2013, Hesham Ramez, Chairman of the Board of Directors of the Central Bank of Egypt, wrote a letter to all banks. He mentioned that the Banking Supervisory Authority is taking measures to enhance bank safety in light of the increasing growth in banking activity and to maintain the stability of the Egyptian economy. The main amendments include: 1) Limiting the aggregate amount of funds held by liquidity-supportive banks with foreign currency deposits from 100% to a lower percentage (yet to be determined). 2) Regulating the total balance sheet size of liquidity-supportive banks and fixed deposit banks. The upper limit is set at 75% of the total bank assets, as per law no. 95 of 1992 and relevant guidelines. 3) All banks are required to comply with the prescribed capital adequacy ratios for equity investments, regardless if they are current or new clients.

في خطاب من البنك المركزي المصري إلى رئيس مجلس الإدارة بتاريخ 28 أبريل 2013، يشجع البنك البنوك العاملة في القطاع المصرفي المصري على مواصلة دعم وتشجيع أنشطة التصدير في مختلف القطاعات الاقتصادية. ويلاحظ البنك المركزي أن بعض الشركات تمارس أنشطتها التصديرية خارج إطار النظام المصرفي، مما يؤثر سلبًا على موارد البلاد من العملات الأجنبية. ولمعالجة هذا الوضع، يشترط قرار وزاري صدر مؤخرًا أن تتم العمليات التصديرية لمنتجات معينة من خلال أحد البنوك العاملة في مصر، مع تقديم شهادة بنكية للجمارك قبل الشحن. ويطلب البنك المركزي من البنوك الالتزام بإجراءات محددة لضمان الرقابة على حصائل عمليات التصدير المتعلقة بهذه المنتجات، بما في ذلك إصدار الشهادة مقابل تعهد من العميل ومتابعة ورود الحصيلة.

The Trade Ministry stated that gold and its products, as well as silver and its products, are exempt from this rule. They will be listed separately in the next amendment of the program. This regulation applies to all goods listed except for the following: - Gold and its products. - Silver and its products. - Iron rods. - Carbon steel. - Diamonds that are not cut or polished. - Natural cobalt ores. - Natural copper ores. - Sugar from sugar cane or beetroot. - Cement clinkers. - Natural granite or marble in raw, processed, or slab form. However, according to the Minister of Industry and Trade, the exemptions will last for one year from the date of issuance, after which a decision will be made on whether to continue them or not. The goods exempted will also be listed separately in the next amendment of the program.

Greetings, As instructed by the Board of Directors of the Central Bank of Egypt with Resolution No. 104/2012 dated January 3rd, 2012, concerning amending the regulatory framework for the Central Bank's loan system and implementing related actions, particularly regarding clients who are not well-managed in terms of repayments, including specific guidelines on placing individuals on blacklists and handling them, we emphasize the necessity to clean up the blacklists by the end of June 2012. Additionally, it has been noticed that some banks have failed to review clients listed on the blacklists according to the Board of Directors' resolution for the purpose of excluding borrowers who owe them money without deducting any amounts from their accounts or listed names incorrectly. They are also required to update client records in the blacklists when they settle their dues and reclassify them as per repayment categories, according to the directives provided by the Central Bank. Furthermore, we would like to refer to the statement issued by the Central Bank of Egypt on February 20th, 2013, which states that creditors should report clients' outstanding balances along with the due date through the Central Bank's information network. In the event that it is confirmed that your bank has failed to comply with what was highlighted and if complaints are received from either the Central Bank or the Egyptian Credit Bureau about clients (either individuals or companies), you will be subject to apply any relevant measures as stipulated by Article 135 of the Banking, Finance and Pensions Law No. 88 for the fiscal year 2009/2010. We kindly request your cooperation. Sincerely, Jamal Nagem

The letter reminds the recipient of the Central Bank of Egypt's decision regarding the amendment of rules governing the credit registration system and the inclusion of non-compliant clients in negative lists. It highlights the need for accurate data and the removal of clients with outstanding fees, commissions, and interests without actual fund withdrawals. The letter also emphasizes the importance of updating client data upon repayment and registering the repayment date. Non-compliance with these directives may result in penalties as per the Central Bank, the Banking Sector, and the Currency Law No. 88 of 2003.

The chairman of the Board welcomed everyone and expressed his appreciation for the regulatory steps taken to enhance transparency in the importing process. He acknowledged that foreign suppliers have been importing goods from several sources, and consequently, there will be a temporary disruption in some imports due to the application of new regulations. The following three directives are being imposed: 1) Banks must obtain written commitments from traders stating they will not exchange transactions with other banks involved in these imports; 2) The banks shall guarantee that their customers do not exchange any proceeds derived from the import of goods without permission, and 3) Foreign suppliers should continue to perform their activities; however, they will be subjected to the supervision of authorized regulatory bodies, as no similar activities for traders or the bank are permitted. The chairman urged all involved parties to respect these new measures and expressed gratitude to the audience.

In reference to the import operations that are based on collection documents issued in the name of the client, which may be issued by the foreign supplier from multiple sources sent to the client, it has been observed that some clients direct the received documents to more than one bank. This may lead to duplication in executing the import operation and further strain on the resources of the free market. To tighten the control over this type of operation, the following controls have been set for banks to adhere to when endorsing such documents: obtaining a written undertaking from the client, formulated by the legal affairs of each bank, stating that the documents related to the import operation have not been dealt with by any other bank; the client provides the bank that endorsed the documents and/or issued Form 4 with a copy of the customs clearance declaration stamped by the Customs Authority, including the name of the bank that executed the operation; if proof of clearance of the goods is not provided by the Customs Authority within one month from the date of execution of the operation, and after the client has been followed up in this regard to no avail, the bank shall notify the Central Bank of Egypt of the name of the client and his group in the sense of the client and the related parties issued by the Central

The letter outlines a decision by the Egyptian Central Bank to support the national economy and develop various economic sectors, with a focus on the tourism industry. The bank has decided to issue an initiative to support the tourism sector, specifically by providing credit facilities for hotels, travel services, transportation, and restaurants in tourist areas. The initiative includes guidelines for banks to study each case individually and make appropriate decisions, including granting a one-year grace period, rescheduling payments, and reducing interest rates. The decision aims to help non-regular clients and restructure some facilities to extend repayment periods.

هذه تفسير قال شخص عمل الإدارة في بنك مصر على تعديل قواعد تسجيل أوقات البنك. 1. "مجلس إدارة" : هذا قائمة أعضاء الإدارة في مؤسسة بنك. 2. "قواعد منظمة" : هذه هي القواعد والمحتوى المحدد لنظام تسجيل الأوقات في البنك. 3. "تعديل": هذه معنى إجراء تغيير أو استعادة في قواعد أو محتوى. 4. "تمكن التشغيل" : هذا يعني تفعيل نظام تسجيل الأوقات بعد إعادة التشغيل بعد نهاية الفترة المحدودة. 5. "ضوابط منح" : هذه قواعد والمحتوى المحدد للشركات أو الأفراد الذين يمنحون أوقات. 6. "وسياسة الداخلية" : هذه جملة من ضوابط أو قواعد للعامل المحلي. أظهرت الإشعاء أن البنك صاحب أكبر مديونية في سودان قام بتعديل قواعد تسجيل أوقات البنك بعد إنهاء الفترة المحدودة. مجلس إدارة قام بوجهة معناً لتعديل قواعد تسجيل أوقات البنك بعد إنهاء فترة السماح. تمكن التشغيل" هذا يعني تفعيل نظام تسجيل الأوقات بعد إعادة التشغيل بعد نهاية الفترة المحدودة. **التفسير:** هذا يعنى أن مجلس إدارة قام بقرار مؤكد على تعديل القواعد المنظمة لنظام تسجيل بالبنك. وذلك بعد إنهاء فترة السماح. هذا يؤكد أنه مجلس إدارة يشترط تعديل القواعد تسجيل أوقات البنك بعد إنهاء فترة السماح.

The letter, dated February 4, 2013, is addressed to the Chairman of the Board of a bank in Egypt. It announces measures to encourage Egyptian nationals to repatriate their foreign currency savings to Egypt for investment. These measures include allowing individuals to repatriate their funds from overseas accounts to Egyptian banks starting February 10, 2013, with the option to re-transfer the same amount abroad later. Banks are instructed to record such transactions.

Egyptian Prime Minister Hesham Qandil stated on February 4, 2013 that the Egyptian Central Bank Governor Hisham Ramez will allow Egyptian individuals with foreign currency deposits abroad to transfer these funds back into Egypt for investment either in foreign currency or in local currency by providing proper documentation. The central bank will also register all transfers made from foreign banks. He highly appreciates and values their trust and confidence.

Cairo, February 4th, **2013** ## Greetings and salutations, By referring to the statement of the Governor on January 14th, **2013**, the Central Bank allows banks to set up special accounts for prioritizing foreign investment requests within the limits available to the bank. Banks must pay close attention to allocating priority to foreign investment projects through import operations that follow: - Basic and staple food items and commodities. - Manufacturing equipment, machinery, and spare parts. - Intermediate goods and industrial inputs. - Petroleum products and derivatives. - Pharmaceuticals, pesticides, and chemicals. - Fertilizers, pesticides, and related materials. - Industrial oils and chemicals. Respectfully, Hesham Ramez Abd El Hafiz.

In a letter dated February 4, 2013, the Central Bank of Egypt instructed banks to prioritize foreign currency allocation for specific imports, including essential food items, production equipment, intermediate goods, petroleum products, medicines, fertilizers, and industrial oils and lubricants. This directive aimed to manage the allocation of foreign currency resources available to banks to meet the needs of their clients.

In February 2013, Egyptian President Hisham Ramez announced the lifting of several import restrictions for a wide range of goods, including meats and animal products, as part of an economic reform program aimed at meeting domestic market needs through foreign trade. The following items have been added to the positive list along with the minimum localization requirement of 50%: 1) Drugs and medical supplies 2) Infant formula 3) Foodstuffs (wheat, oilseeds, grains) 4) Livestock (rice, soybeans, other agricultural products) 5) Fertilizers and pesticides In addition to this, the Central Bank of Egypt will maintain restrictions on net foreign currency inflows in order to limit capital flight. The results of a financial study being conducted for banks will be used to address this matter until at least June 2013.

In a letter dated February 4, 2013, the Central Bank of Egypt announced that it would continue to support the national economy and meet the needs of the local market by allowing banks to exempt certain imports from the minimum cash margin requirement of 50%. These imports include medicines, baby formula, food commodities, animal feed, fertilizers, and pesticides. Banks are given the freedom to set the cash coverage ratio without a minimum limit until the end of June 2013.

The phrases below are the direct translation of the provided Arabic sentences in English: 1- لاء. 2- مع الموردي. 3- منذ تقدم. 4- إذا تم. 5- على سبيل المثال. 6- تحقيقين أخرى. 7- وفقًا لما يكون شيء. 8- تأكد من أنه طويلة الأمر. 9- على سبيل المثال. 10- إذا زاد الخسائص في العمليات. 11- على سبيل المثال. 12- بشكل أمن وآمن. 13- مع أعض أهمية. 14- على سبيل المثال. 15- إذا تم. 16- طريقة جديدة. 17- كما هو على الأمل. 18- على سبيل المثال. 19- مع خطين.

The Central Bank of Egypt issued a circular to all banks operating in Egypt regarding the application of the best international practices in line with the latest developments in the banking sector and in light of the strategic plan announced by the Governor of the Central Bank of Egypt during the conference held in October 2009. The circular includes the following: The Board of Directors of the Central Bank of Egypt decided in its meeting held on December 18, 2012 to approve the following: First: All banks operating in Egypt are required to maintain a minimum capital adequacy ratio of 10% of the risk-weighted assets (RWA) and the capital components (denominator) to cover credit, market and operational risks. Second: The provisions of the circular shall be applied to the branches of foreign banks operating in Egypt with the exception of maintaining the minimum capital adequacy ratio of 10%. Third: All banks operating in Egypt are required to apply the provisions of the circular as of December 2012. The banks that prepare their financial statements as of December 31st of each year shall apply the provisions of the circular as of December 2012. The banks that prepare

The letter refers to regulations and guidelines set by the Central Bank of Egypt regarding foreign currency lending and the requirement for borrowers to have sufficient foreign currency resources to ensure repayment. In light of the recent economic situation in the country, the Central Bank is allowing banks to implement a mechanism to prioritize their clients' foreign currency purchase requests based on available resources. Additionally, banks are temporarily permitted to refinance their clients' import operations by providing temporary foreign currency facilities, subject to individual credit assessments.

The document outlines regulations set by the Central Bank of Egypt regarding foreign currency balances for banks operating in Egypt, including branches of foreign banks. The regulations aim to ensure the financial stability of banks and their smooth operation by setting limits on surplus and deficit ratios for foreign currency reserves. These regulations, effective from December 30, 2012, are to be adhered to at the end of each business day.

Greetings, In reference to Article (19-H) of the implementing regulations of the Central Bank and Financial Institutions Law No. 88 for fiscal year 2003, which stipulates that facilities or financial assistance granted with foreign currency shall help customers settle their obligations; Considering the recent directives from the Central Bank of Egypt aimed at preserving foreign currency reserves and maintaining economic stability amidst current circumstances, banks are now allowed to: - Establish a mechanism for prioritizing requests from clients for purchasing foreign currencies within available resources. - Grant temporary financing facilities in foreign currencies that clients can repay upon currency settlement, considering the credit risk assessments conducted by banks on their clients. I kindly request your attention and cooperation, and please accept my best regards, Jamal Najm

I would like to draw attention to a resolution of the Board of Directors of the Central Bank of Egypt, dated September 9, 1993, concerning the Basel Committee's capital adequacy standards for banks, and the subsequent circulars issued in this regard. The Central Bank of Egypt is committed to upholding prudential measures and guidelines as per the Basel Committee's standards to ensure the soundness of the banking system and its performance. Consequently, for all banks operating in Egypt including foreign bank branches, the following rules apply: 1) The maximum amount of profit that can be earned from non-Egyptian currencies shall not exceed 1% of the paid-up capital. 2) The total profit generated from non-Egyptian currencies shall not exceed 2% of the paid-up capital. 3) The maximum amount of loss that can be incurred from any currency, foreign or domestic, shall not exceed 10% of the paid-up capital. 4) The total loss that can be incurred from non-Egyptian currencies or Egyptian currencies shall not exceed 20% of the paid-up capital. 5) The profit or loss generated from holding foreign exchange reserves in Egyptian pounds is subject to a limit of 10% of the paid-up capital. 6) The definition of the paid-up capital, as per Basel standards, shall be applied, considering what was stipulated earlier regarding the minimum Basel capital adequacy ratio under the application of Basel II guidelines from December 31, 2012 onwards. 7) Banks are required to adhere to all previous instructions not mentioned above. I kindly request that you pay close attention and take necessary action regarding what was previously stated. Thank you very much. Jamal Nageem.

In November 2012, the Central Bank of Egypt decided to extend the exemption of import operations for meat, poultry, and sugar for an additional six months, ending in June 2013. This decision aimed to support the national economy and meet the local market's demands by facilitating foreign trade transactions. The extension was granted while considering credit guidelines and the results of credit studies conducted by the bank for its clients in this regard.

Cairo, November 6th, 2012 In a reference to the Central Bank of Egypt and its governor in an address, it was stated that banks are allowed to increase the importation of livestock and agricultural products with all varieties, as well as sugar with all types for trading purposes or government institutions at minimum exchange rates no less than 50%. The Governor also mentioned a grace period of six additional months that would end by the last day of June 2013. This period will be considered under the supervision of regulatory authorities. Please note and take into consideration the full compliance with this statement. I would kindly request your high regard and respect, Sincerely, Governor of Central Bank of Egypt

In a letter dated May 23, 2012, the Central Bank of Egypt's Deputy Governor, Gamal Negm, informs the Chairman of the Board of Directors of a decision to reduce the reserve requirement ratio from 12% to 10%, effective from the reserve period starting June 26, 2012. This decision, made during the Central Bank's session on May 22, 2012, is in line with their continued support for the Egyptian banking sector.

The letter announces an extension of the exception for meat, poultry, and sugar imports from the minimum cash collateral requirement of 50% for a period of six additional months, ending in December 2012. This decision by the Central Bank of Egypt aims to support the national economy and meet the local market's needs through external trade operations. The letter concludes by requesting full compliance with the contents of the correspondence.

Greetings, and welcome. By agreement with the banking sector, the following measures have been allowed: excluding imports of various foodstuffs, agricultural products, and medicines from the lowest tariffs for the benefit of banks in addressing export challenges without the lowest possible tariff **for a period of six additional months, ending by the end of December 2012**, while taking into account **regulatory considerations**. The banking family appreciates your attention and respect. In light of previous notice and considering the upcoming end of the stipulated period in November 2012, the following provisions will apply for six additional months ending by the end of December 2012: excluding imports of various foodstuffs, agricultural products, and medicines from the lowest tariffs for the benefit of banks in addressing export challenges without the lowest possible tariff. The banking family appreciates your attention and respect.

In May 2012, the CEO of Cairo's Botaica Bank addressed a board meeting regarding reducing the bank's reserve ratio from 14% to 12%, and discussed continuing support for the Egyptian banking sector. He requested the approval of his proposal. The Egyptian Central Bank's Board of Directors approved the proposal in their May 2012 meeting to reduce the reserve ratio from 12% to 10%. This change would begin on June 30, 2012, based on the existing capital. The decision was published in the Official Gazette.

### الشروط الأساسية: 1. من خلال القضى على إصدار التقارير المهمة بكل جدوى، وتمكين العمليات المثالية والمداومة. 2. ضمان أن تتفق مشروعات تطبيق "إصدار" وهذه الحظر بشكل صحيح وغير مخالف. 3. استخدام أدوات النظام والضوابط قوية ومفتوحة للتحكم وتشخيص جميع أعمال الهيكل. 4. تحديث كائنات المعرض بشكل مستمر وإقتصاد في حالة تغيير أو استخدام الأجهزة. 5. تنظيم وتطوير شؤون "المعايير" و "ثقافة الحوآمة" بشكل مكسب ومدمج. 6. إصدار أسلولية الضوابط والتوازنات تمكن عقل تحديات وظائف البنك وتشجيعه على تبث أفعيله الرئيسي. 7. تأكد من خطوة معقولة لإدارة "المصالح التنفيذية" و"التنافر". 8. تجهز لجميع الأجنبية المتعلقة بشكل مثالي وقائب تحدي تكاليف الإغلاق. 9. ضمان أن تتمكن القضاء على حل سؤال "التنافر" و"الاتصال المعلومات". 10. إختيار أفضل اختبارات التحمل بشكل مثالي وجدوى. 11. تقييم دوري تتفق مع مناطق "المسؤولية الاجتماعية" والإقراض الداخلي. 12. تحديث أسلوب كشف "المشاركة غير المشروعة" أو "الأخلاقية" في مكان العمل. ### التقارير المهمة - **القضى على إصدار التقارير المهمة بكل جدوى** : يتم نظر إلى طريقة إصدار التقارير بشكل جذع وسلسلة لتأكيد مماثل بالإضافة إلى إستخدام أدوات نظام وضوابط قوية لتحكم على المعرض. - **ضمان أن تتفق مشروعات "إصدار" وهذه الحظر بشكل صحيح وغير مخالف** : يجرد تحقق المزايا والضرورات التي يتطلب منها على مستوى التنظيم والإدارة. - **الضمان أن يتمكن المصنف بشكل مؤقت ومجهز من حل سبل خاطر الخفض في العلاقة بي** : يقود إلى أن تتمكن الشركات التي تستثمر أجزاء من هذا المصنف بشكل مؤقت ومجهز بتحديد خطط وإجراءات بالنسبة إلى هؤلاء. - **إعادة تأليف القواعد والتعليمات الحكومية** : تحقق من أن قائمة التعليمات والقواعد تتطبق لإحرام جميع أفعيل الهيكل. - **تحقق أن مستشاري الهيكل يتيح له الإصلاح** : تتبع إلى أن تتمكن الهيكل والجهة المختصة في تقدير سلطة الإصلاح على مستوى متضمن. - **تحقق أن توجد أجزاء من هذا الهيكل المقالبون** : يشير إلى أن هذا الهيكل يسمح لكل أجزاء بتقدير معقول وتفضيل في إجراءات اختبار لتحقيق وإصلاح. - **التحقق أن المسؤولين المقدمين على الإجراءات الدوائن** : يشير إلى أن هذه الدوائن تتطلب من المسؤولين المقدمين على تحقق جميع العناصر المختلفة. - **التحقق أن هذا الهيكل يعمل بشكل سلسلي** : يشير إلى أن هذا الهيكل يعمل بشكل مؤثر وتضمن جميع خطط القيادة. - **التحقق أن يتمكن المصنف بشكل مؤقت ومجهز من حل سبل خفض في العلاقة بي** : يقود إلى أن تتمكن الشركات التي تستثمر أجزاء من هذا المصنف بشكل مؤقت ومجهز بتحديد خطط وإجراءات بالنسبة إلى هؤلاء. - **التحقق أن الهيكل يمكن أن يضع شركات مصنف مخلوطة دائن** : يشير إلى أن هذا الهيكل يسمح لأجزاء من هذا المصنف المختلفة بالتواصل. - **التحقق أن مستشاري الهيكل يتيح له الإصلاح** : تتبع إلى أن تتمكن الهيكل والجهة المختصة في تقدير سلطة الإصلاح على مستوى متضمن. - **تحقق أن يتمكن المصنف بشكل مؤقت ومجهز من حل سبل خفض في العلاقة بي** : يقود إلى أن تتمكن الشركات التي تستثمر أجزاء من هذا المصنف بشكل مؤقت ومجهز بتحديد خطط وإجراءات بالنسبة إلى هؤلاء. - **التحقق أن المسؤولين المقدمين على الإجراءات الدوائن** : يشير إلى أن هذه الدوائن تتطلب من المسؤولين المقدمين على تحقق جميع العناصر المختلفة. - **التحقق أن هذا الهيكل يعمل بشكل سلسلي** : يشير إلى أن هذا الهيكل يعمل بشكل مؤثر وتضمن جميع خطط القيادة. - **التحقق أن مستشاري الهيكل يتيح له الإصلاح** : تتبع إلى أن تتمكن الهيكل والجهة المختصة في تقدير سلطة الإصلاح على مستوى متضمن. - **تحقق أن هذا الهيكل يعمل بشكل سلسلي** : يشير إلى أن هذا الهيكل يعمل بشكل مؤثر وتضمن جميع خطط القيادة. - **التحقق أن الهيكل يعزز مستشاري هذه الهيكل** : يقود إلى أن تتمكن الهيكل بإضافة مخططات أداء لجميع أجزاء من هذا الهيكل. - **التحقق أن المسؤولين المقدمين على الإجراءات الدوائن** : يشير إلى أن هذه الدوائن تتطلب من المسؤولين المقدمين على تحقق جميع العناصر المختلفة. - **التحقق أن هذا الهيكل يعمل بشكل سلسلي** : يشير إلى أن هذا الهيكل يعمل بشكل مؤثر وتضمن جميع خطط القيادة. - **التحقق أن المسؤولين المقدمين على الإجراءات الدوائن** : يشير إلى أن هذه الدوائن تتطلب من المسؤولين المقدمين على تحقق جميع العناصر المختلفة. - **التحقق أن مستشاري الهيكل يتيح له الإصلاح** : تتبع إلى أن تتمكن الهيكل والجهة المختصة في تقدير سلطة الإصلاح على مستوى متضمن. - **التحقق أن المسؤولين المقدمين على الإجراءات الدوائن** : يشير إلى أن هذه الدوائن تتطلب من المسؤولين المقدمين على تحقق جميع العناصر المختلفة. - **التحقق أن هذا الهيكل يعمل بشكل سلسلي** : يشير إلى أن هذا الهيكل يعمل بشكل مؤثر وتضمن جميع خطط القيادة. - **التحقق أن مستشاري الهيكل يتيح له الإصلاح** : تتبع إلى أن تتمكن الهيكل والجهة المختصة في تقدير سلطة الإصلاح على مستوى متضمن. - **التحقق أن هذا الهيكل يعمل بشكل سلسلي** : يشير إلى أن هذا الهيكل يعمل بشكل مؤثر وتضمن جميع خطط القيادة. - **التحقق أن مستشاري الهيكل يتيح له الإصلاح** : تتبع إلى أن تتمكن الهيكل والجهة المختصة في تقدير سلطة الإصلاح على مستوى متضمن. - **التحقق أن هذا الهيكل يعمل بشكل سلسلي** : يشير إلى أن هذا الهيكل يعمل بشكل مؤثر وتضمن جميع خطط القيادة. - **التحقق أن مستشاري الهيكل يتيح له الإصلاح** : تتبع إلى أن تتمكن الهيكل والجهة المختصة في تقدير سلطة الإصلاح على مستوى متضمن. - **التحقق أن هذا الهيكل يعمل بشكل سلسلي** : يشير إلى أن هذا الهيكل يعمل بشكل مؤثر وتضمن جميع خطط القيادة. - **التحقق أن مستشاري الهيكل يتيح له الإصلاح** : تتبع إلى أن تتمكن الهيكل والجهة المختصة في تقدير سلطة الإصلاح على مستوى متضمن. - **التحقق أن هذا الهيكل يعمل بشكل سلسلي** : يشير إلى أن هذا الهيكل يعمل بشكل مؤثر وتضمن جميع خطط القيادة. - **التحقق أن مستشاري الهيكل يتيح له الإصلاح** : تتبع إلى أن تتمكن الهيكل والجهة المختصة في تقدير سلطة الإصلاح على مستوى متضمن.

The letter is addressed to the Chairman of the Board of Directors of a bank from the Central Bank of Egypt. It outlines new governance instructions for banks in Egypt, emphasizing the importance of adopting international best practices and strengthening internal governance and control systems. All banks registered with the Central Bank of Egypt are required to develop or enhance their governance systems accordingly. The letter also highlights the need for banks to disclose the total compensation of their top 20 earners and establishes guidelines for the Board of Directors' structure and responsibilities, emphasizing the importance of independent and non-executive members. It further emphasizes the role of the Board in setting strategic directions, overseeing management, and ensuring effective internal controls and risk management. The letter also discusses the importance of communication channels, professional development, and performance evaluation for Board members. Finally, it provides instructions for several committees, including the Executive Committee, Audit Committee, Risk Committee, Remuneration Committee, and Governance and Nominations Committee, detailing their roles and responsibilities.

The letter is from the Central Bank of Egypt to banks operating in Egypt. It provides guidelines for banks to follow when providing loans and facilities to small and medium-sized companies and establishments. The letter includes detailed rules and procedures for implementing the provisions of the aforementioned decision. It also emphasizes the importance of preparing for this type of financing by training employees, developing evaluation methods, and establishing a comprehensive funding and follow-up system.

1. The company must maintain and promote an environment of integrity, transparency, efficiency and effectiveness to foster a corporate culture that is committed to the prevention, detection and reporting of fraudulent activities, and ensure compliance with the law and regulatory requirements. 2. The candidate for the position of Chief Compliance Officer (CCO) must be a person who has the qualifications, skills, experience, and professional integrity necessary for this role, as outlined below. 3. The CCO shall report to the Minister of Justice, and they will: - Be accountable and responsible for designing, implementing, monitoring, and updating policies and procedures related to preventing, detecting, and reporting fraudulent activities. 4. To ensure effective oversight by the CCO, a Compliance Office (CCO Office) shall be established within the organization, which includes: - An appropriate office space to conduct their duties effectively and efficiently. 5. The Board of Directors (BoD) will have an Oversight Committee (OVC), which shall oversee the CCO Office's performance and effectiveness in fulfilling its obligations and responsibilities. 6. The company shall allocate sufficient resources, including human capital, to support and facilitate the proper functioning, operation, and execution of the CCO Office. 7. A dedicated department or division named "Anti-Fraud Department/Division" (AFFD) shall be established within the organization to carry out its responsibilities in preventing, detecting, and reporting fraudulent activities. The AFFD will: - Maintain, implement, monitor, evaluate, review, and continuously update all policies, procedures, protocols, standards, and practices related to preventing, detecting, and reporting fraudulent activities. - Conduct comprehensive risk assessments and evaluations, including identifying, assessing, quantifying, and prioritizing the associated risks, as well as formulating, implementing, monitoring, updating, reviewing, and continuously refining all appropriate action plans, countermeasures, mitigation strategies, and remediation measures to address them effectively and efficiently. - Regularly and consistently conduct independent internal investigations and audits to identify, assess, quantify, prioritize, investigate, analyze, evaluate, review, and update any suspicious, unusual, abnormal, or potentially fraudulent activities, transactions, occurrences, events, issues, or incidents that may pose potential threats or risks to the company's interests, reputation, legal compliance, operations, stakeholders, shareholders, customers, clients, suppliers, vendors, partners, and other relevant parties, as well as to promptly report them to the appropriate authorities. - Regularly and consistently update, maintain, implement, monitor, evaluate, review, and continuously refine all policies, procedures, protocols, standards, and practices related to preventing, detecting, and reporting fraudulent activities, based on any lessons learned, best practices identified, and continuous improvements achieved from other similar organizations and entities both within and outside the Kingdom of Saudi Arabia (KSA). - Regularly and consistently maintain, update, monitor, evaluate, review, and continuously refine all policies, procedures, protocols, standards, and practices related to preventing, detecting, and reporting fraudulent activities, based on any new threats or risks that may emerge in the future. 8. The AFFD shall work closely with and report regularly and consistently to the CCO Office regarding the performance, effectiveness, and accomplishments achieved in carrying out its responsibilities and obligations. 9. The AFFD shall work closely with and report regularly and consistently to the CCO and the Oversight Committee (OVC) regarding the performance, effectiveness, and accomplishments achieved in implementing, monitoring, evaluating, reviewing, and continuously updating all policies, procedures, protocols, standards, and practices related to preventing, detecting, and reporting fraudulent activities. 10. The AFFD shall work closely with and report regularly and consistently to the CCO and the Oversight Committee (OVC) regarding any identified suspicious, unusual, abnormal, or potentially fraudulent activities, transactions, occurrences, events, issues, or incidents that may pose potential threats or risks to the company's interests, reputation, legal compliance, operations, stakeholders, shareholders, customers, clients, suppliers, vendors, partners, and other relevant parties. 11. The CCO shall be responsible for overseeing, reviewing, evaluating, monitoring, updating, and continuously refining all policies, procedures, protocols, standards, and practices related to preventing, detecting, and reporting fraudulent activities throughout the entire organization.

The letter, dated October 2, 2007, from Dr. Farouk El-Okdah, refers to the Central Bank of Egypt's decision regarding financing regulations for real estate development companies constructing residential units for sale. The letter emphasizes the importance of adhering to Article 8 of the decision, which stipulates that the regulations apply to financing provided by banks to real estate and refinancing companies. It also highlights the requirement that financing for unit reservations is only considered real estate financing or mortgage-backed financing after the units are delivered and the project's facilities are completed. The letter notes that some banks have circumvented this decision by providing personal loans for unit reservations, which contradicts the decision and the Central Bank's regulatory framework.

The Egyptian Cabinet approved the Public-Private Partnership (PPP) Law on November 28, 2017. This law aims to facilitate the financing of projects by private sector investors in partnership with the government through various forms of collaboration. The objective of the PPP Law is: 1. The government will not guarantee or undertake any particular risk associated with the provision and operation of the project or the performance thereof, except as may be provided for under the heading "Article 3" in which the state bears the full risk related to the borrowing from banks or refinancing, with what was mentioned in this article, but it must have been implemented before this date. 2. Under Article 5, private sector investors must adhere to all loan conditions and guarantees stipulated in this law. 3. Under Article 8, any additional debt required by the government or any of its agencies or organizations after completing the project financing must be approved by the Parliament of Egypt within two months from December 2017. 4. According to Article 9, all bank loans and refinancing debts must comply with the provisions of this law. 5. According to Article 10, any additional debt required by the government or any of its agencies or organizations after completing the project financing must be approved by the Egyptian Parliament within two months from December 2017. 6. Under Article 18, the government will bear all risks associated with borrowing money from banks or refinancing. These include any losses or damages resulting from the inability of the investors to repay their loans or due to other factors that may arise during the implementation and operation of the project. 7. This Law shall be enacted in the Republic of Egypt, and it shall be applied since its promulgation date, November 28, 2017. Note: The content in this article has been slightly adapted for clarity, while maintaining the integrity and substance of the original text.

The letter, addressed to the Chairman of the Board of Directors, communicates the requirement for banks and financial institutions to obtain credit information on individuals and small-to-medium enterprises from the Egyptian Credit Bureau, effective July 1, 2008. It emphasizes the importance of accurate data reporting by banks to ensure the reliability of the bureau's reports, which other banks rely on for client evaluation. The Central Bank of Egypt's periodic inspections of banks will include assessing compliance with these data provision standards and the utilization of the bureau's data.

The Governor of the Central Bank kindly requests that banks and credit institutions comply with the following requirements starting from July 1, 2008: 1. Banks must provide detailed borrower data (excluding individual natural persons) to the Credit Information Center through the Egyptian Credit Bureau only. 2. Small-to-medium enterprises (SMEs) that have not received a maximum loan amount of EGP 1 million from any of these banks or credit institutions are also required to provide detailed borrower data, combined with Central Bank mortgage registry data, through the Egyptian Credit Bureau system. 3. Based on the information provided by Governor Dr. Hisham Ramez, it is essential that all banks and credit institutions strictly adhere to providing accurate credit data to "Score-I", a credit rating agency required by the relevant authorities for loan disbursement decisions. 4. The Central Bank will also conduct periodic examinations of banks' compliance with these requirements, particularly: - Ensuring timely provision of accurate credit data to Score-I. - Ensuring that all banks have access to and monitor the required borrower data from above.

In compliance with the Central Bank of Egypt's regulatory measures, Commercial International Bank (CIB) has issued a notice to its clients on October 29, 2009, detailing that it will cease to acquire shares in non-banking companies whose share capital exceeds 40% of the company's total capital. In case a client's bank account holds stocks in such a company and the percentage of these stocks exceeds 40% of the total capital, CIB will calculate the loss resulting from this situation according to the International Financial Reporting Standards (IFRS). The loss shall not be less than the amount representing the excess over 40% of the company's total capital. The notice also mentioned that this calculation would start on July 1, 2010, and added that it is a provisional measure, which may be subject to further amendments or changes at any time. The Central Bank of Egypt has issued similar directives for other banks as well, reflecting the country's commitment to maintaining financial stability and ensuring investor protection.

The letter is addressed to a bank manager, informing them of the Central Bank of Egypt's new regulations regarding the evaluation of goodwill and the financing of acquisitions. The letter emphasizes the importance of adhering to these regulations and mentions that the Supervision and Control Sector will provide the bank with a periodic statement. It also includes details about the evaluation of assets and liabilities, the role of external experts, and the weighting of risk factors in calculating the bank's capital adequacy ratio.

The letter refers to a decision by the Central Bank of Egypt's board of directors regarding the prohibition of banks owning more than 40% of shares in non-financial companies. The bank gave a three-year grace period for compliance, but some banks are still requesting extensions. The Central Bank of Egypt's board decided in its meeting on September 8, 2009, that if a bank owns more than 40% of a non-financial company's shares, it must measure the impairment losses of these shares according to applicable accounting rules. These losses must be reflected in the income statement, and the book value of the shares must be reduced accordingly.

The original Arabic text of the Egyptian House of Representatives' response to the International Monetary Fund's Article IV consultation is as follows: **The Fourth Item** It is not permitted for the International Monetary Fund (IMF) to impose a condition on Egypt's external public debt amounting to more than 5% of its total public debt, nor may it reduce the external public debt by more than 20%. **The Fifth Item** The Egyptian state is committed to implementing an economic program under the supervision of the IMF to complete a specific $10.4 billion tranche by June 22, 2009, subject to the evaluation of the monthly installments. **The Sixth Item** Egypt agrees to adhere to the conditions and obligations stipulated in Article IV of the IMF Statute, provided they do not conflict with Egypt's external public debt commitments under which it has implemented specific economic programs within the framework of this Article by its due date, subject to the applicable rules. Secretary-General of the **Parliament** Dr. Mohamed Al-Din Moneer

The letters discuss the requirement for banks to obtain 100% cash collateral for letters of credit issued to finance the import of goods for trading or for government entities. This requirement also applies to bills of exchange presented under supplier credit facilities for the same purpose. The second letter clarifies that banks can set the cash collateral percentage on a case-by-case basis, with a minimum of 50%, based on their credit policies and studies of their clients.

In a nutshell, Switzerland introduced this policy. It requires Swiss banks to cease operations if their credit rating falls below "BB / 0". The regulation applies for one year from the date of its publication. To clarify further: This new policy, published on June 21, 2008 (0/ 2008 in some references), requires all Swiss banks to cease their operations if their credit rating falls below "BB / 0". The regulation is valid for one year starting from the date of its announcement. To put it simply: If a Swiss bank's credit rating falls below the minimum level ("BB / 0"), they must stop doing business. This new policy went into effect on June 21, 2008 and will remain active until June 21, 2009.

## التفسير: كتاب األمن يتحدث عن األجهزة الإجابة السوداء وتنقيط الشؤون المالية. في يوليو 2021، كان يكون 34 فرعًا سوداء تبذون فرص مباشرة حيث ستتم إجراء الإعلان عنها في أغسطس 2021. البنوك العالمية تقدم بحلولًا قديمًا لإقال الإجراءات التي تخصّص في تقييم البنوك السوداء. على أنه يكون عليها فحصًا متقدمًا للمؤسسات الإجابة السوداء ويتضمن آثار التفتيش على البنك. - خططات الإجراءات المتقدمة تحت عنوان "الجانب التقييمي" تستغل أساسية 60% من العمل. - تفسير إجهزة الإجابة السوداء في شهر يوليو 2021: فرع 34 سوداء تقدم بتقديم طلبات تأشير إلى الإجراءات للتنفيذ بدءًا من يوليو 2021. - البنوك العالمية تقدم خططات تقييمية للبنوك السوداء وتقدم براهن آثار التفتيش على البنك. - الإجراءات المتقدمة تتضمن 34 فرعًا سوداء تقدم بطلب تأشير إلى الإجراءات للتنفيذ بدءًا من يوليو 2021. - الإستراتيجية العاملة للبنك تشمل "الجانب التقييمي" مع الخطة التي تغطي 60% من العمل. - الإستراتيجية العاملة تشمل 34 فرعًا سوداء تقدم بطلب تأشير إلى الإجراءات للتنفيذ بدءًا من يوليو 2021. - الإجهزة السوداء تقدم خطط تقييمية وآثار التفتيش على البنك.

Dear all, I would like to refer you to the Minutes of the meeting held on March 9th, 1999, which included a note about banks' requirement to secure funds in an amount equivalent to 100% of their imported goods' invoices. Banks should also consider updating their lending policies and guidelines based on market conditions and customer profiles. I would like to highlight the necessity for each bank to set its maximum loan-to-value ratio at a minimum of 50%. I kindly request you all to take note and carefully consider the matters discussed in this meeting. With gratitude and respect, Jamal Najim

The letter, addressed to a bank, discusses the importance of the Egyptian banking sector in supporting the national economy and developing and activating various companies and establishments, especially small and medium-sized enterprises that face challenges in accessing financing. It references an attached decision by the Central Bank of Egypt's Board of Directors to encourage banks to provide financing to these businesses. The letter requests that the recipient take the necessary steps to implement the decision and notes that the Supervision and Control Sector of the Central Bank will provide detailed conditions, procedures, and rules for applying the decision's provisions.

In a letter dated August 4, 2009, the Chairman of the Board of the Bank addresses the Egyptian Central Bank's decision regarding maximum limits for the bank's employment of a single client and associated parties. The letter communicates the Egyptian Central Bank's Board decision to cancel the fifth item of its previous resolution from February 7, 2006, regarding the same topic, while continuing to apply the remaining items of the said resolution to all credit rating categories. Banks are granted a period for adjustment until December 31, 2009.

The letter is addressed to the manager of a bank and discusses the regulations governing the credit registration system of the Egyptian Central Bank, specifically regarding non-compliant clients, including those who are prohibited from receiving credit and the exceptions to these rules. The letter also mentions the rules for listing clients on negative lists and the amendments made by the Egyptian Central Bank to align with changes in the banking sector and ensure accurate and transparent credit data. The letter concludes by stating that banks must comply with the new regulations and provide the required forms to the Egyptian Central Bank.

Title: Law No. 24/2008 of the Central Bank of Egypt and its Institutions Article (The First) This law regulates the activities of the Central Bank of Egypt and its institutions in providing financial services to banks, companies, microfinance institutions, and small- and medium-sized enterprises. Article (The Second) The Central Bank of Egypt and its institutions are obligated to cooperate with concerned government authorities to devise policies and implement necessary measures to ensure financial stability, enhance the efficiency of the banking system, promote the growth of national economy, and facilitate the development of various sectors of the economy. Article (The Third) The Central Bank of Egypt and its institutions shall work in coordination with concerned government authorities to develop a comprehensive framework for the regulation and supervision of non-banking financial institutions and microfinance institutions, and to establish necessary procedures.

Dear Sir / Chairman, I would like to refer to Board of Directors resolution number (305) dated February 7th, 2006 concerning the maximum staffing limits for individual clients and related parties. I have the honor to inform that the Board of Directors of EFG-Hermes Investment Bank decided by its meeting on August 4th, 2009 as follows: 1) Cancel item number five of resolution number (305) dated February 7th, 2006 specifically dealing with the maximum staffing limits for individual clients and related parties. 2) Continue to implement the remaining provisions of the said resolution on all credit rating categories (1,2). 3) Give the banks an extension period ending on December 31st, 2009. I kindly request all concerned to pay attention to the complete compliance with the above-mentioned resolution effective from the date of this letter. With high regards.

The letter outlines the Central Bank of Egypt's policy to encourage the growth and expansion of banks in different regions of the country by reviewing the current criteria for approving new branches and establishing guidelines that consider financial stability and internal control systems. It emphasizes the need for banks to expand their services to underserved areas and outlines the regulatory framework for opening new branches, including capital adequacy, creditworthiness assessment, and currency balance. The Central Bank of Egypt's Board of Directors approved the guidelines on June 3, 2008, and requests banks to adhere to them when submitting applications for new branches. The letter also highlights the importance of banks developing expansion policies at the governorate level and having an effective risk management system.

In response to the decline in tourism, we confirm that CBE will implement the following measures: 1. The Central Bank of Egypt (CBE) will take all necessary actions to ensure the stability and resilience of the banking sector, including providing liquidity support and ensuring the smooth functioning of money markets. This includes monitoring and coordinating with other regulators as needed to maintain financial stability. 2. As for the restructuring of foreign-currency loans, CBE will continue working closely with the competent authorities such as the Ministry of Finance, the Financial Regulatory Authority, and the Egyptian Banking Institute on the development of a comprehensive plan, including: a. Assessing the impact of the tourism decline and the restructuring measures on the financial position of banks, taking into consideration any negative or positive effects that may result from such measures. b. Consideration should be given to extending the grace period for repayment of loans by up to six months (from January 2021 till the end of June **2021**) and considering them as grace periods to alleviate negative effects on the banks and avoid recording such facilities as unplanned. c. Banks should continue to provide regular financial statements to the Egyptian Stock Exchange for credit institutions, particularly in relation to the affected sectors. 3. CBE will also carry out stress tests (Testing Stress) at all levels of loan portfolios and liquidity buffers. Various scenarios can be tested for the purpose of assessing the bank's vulnerability to various shocks and adverse events, including specific scenarios related to the investment portfolio or the quality of customer loans, and developing contingency plans for handling potential negative consequences. This should also include an assessment of how these scenarios affect key financial indicators such as capital adequacy ratios, profitability measures, and others. In summary, CBE will closely monitor and coordinate with the regulatory authorities to assess the impact of the tourism decline and loan restructuring on the banking sector and its resilience, taking necessary actions to maintain financial stability and ensuring that appropriate contingency plans are in place to mitigate potential negative consequences.

Here is the English translation of the article you requested: ## (The Third Article) No provisions of this Decree Law shall apply to private banks, i.e., those licensed under Banking Law No. 83 of 1943, except for those that have been notified by the relevant bank to become state-owned pursuant to the decisions of the President of the Republic taken under Article 75 of the Constitution and its amendments or who were previously state-owned banks that are now being privatized. ## (The Fourth Article) The provisions of this Decree Law shall not apply to foreign banks operating in Egypt, according to the agreements and conventions signed between the governments of Egypt and their respective countries. ## (The Fifth Article) The Central Bank of Egypt (CBE) is prohibited from disclosing information about the customers of these banks under any circumstances or in accordance with any judicial order or request, except in cases where this disclosure is required by a final court ruling, and then only to the extent necessary to enforce such ruling. ## (The Sixth Article) The CBE shall maintain the secrecy of banking transactions for its customers until the conclusion of all related legal procedures. ## (The Seventh Article) The CBE is authorized to provide information to the competent authorities regarding the creditors of the aforementioned banks, namely: 1. From 1946 to 1952, for those customers who have outstanding debts. 2. Until 1957 for those whose overdue debts do not exceed one million Egyptian pounds. 3. Up to 1967 for those whose overdue debts do not exceed ten million Egyptian pounds. ## (The Third Article) This Decree Law shall not apply to private banks, i.e., those licensed under Banking Law No. 83 of 1943, except for those that have been notified by the relevant bank to become state-owned pursuant to the decisions of the President of the Republic taken under Article 75 of the Constitution and its amendments or who were previously state-owned banks that are now being privatized. ## (The Fourth Article) The provisions of this Decree Law shall not apply to foreign banks operating in Egypt, according to the agreements and conventions signed between the governments of Egypt and their respective countries.

The letter, addressed to the Chairman of the Board of Directors, communicates the Egyptian Central Bank's role in ensuring proper conduct and financial safety standards among banks. It highlights the need for effective oversight of money market funds, as per Article 175 of the Executive Regulations of the Capital Market Law No. 95 of 1992, amended by the Minister of Investment's Decision No. 126 of 2008. The Central Bank's Board of Directors, in its session held on June 3, 2008, approved a set of controls for banks establishing money market funds, emphasizing the importance of compliance with relevant laws, decisions, and instructions. The letter also mentions the requirement to obtain the Central Bank's approval for any increase in the bank's contribution to the fund's capital and sets a maximum limit for the bank's contribution.

The Central Bank of Egypt is supporting the banking sector to mitigate the impact of the current crisis on banks' performance and creditworthiness. The Bank's decision of April 12, 2011, addresses the treatment of retail and institutional loans during this challenging period. For retail loans, the Bank allows a three-month grace period for regular customers with consumer loans and waives late payment fees. For institutional loans, the Bank advises banks to develop a mechanism to manage the crisis's impact on loan portfolio quality, profitability, and liquidity.

In a letter dated March 22, 2012, the Central Bank of Egypt's Assistant Governor, Gamal Negm, informs the Chairman of the Board of Directors of a bank that the Central Bank's Board has decided to reduce the reserve requirement ratio by 2%, from 14% to 12%, effective from the reserve period starting April 17, 2012. This decision is part of the Central Bank's ongoing efforts to support the banking sector during the challenging period faced by the country.

السلام عليك و رحمة الله وبركاته. أسف علينا أننا لم نجعل إجازة إقبالكم على الدفاتر. يؤمن الضوء بأنه سيتم إعادة التبويب المحولة لمالكية العادلة معظمًا وسيتم تقدير قيم العادلة في تأشير إلى أنها لا تتجاوز التصديد. بالنسبة للأصول المالية مقطوعة بغرض المتأجرة المحولة إلى الأصول المالكية هذه الإجراءات ستتم من أول يناير ٢٠١١ إلى ٣٠ يونيو ٢٠١١. تتضمن هذه العقود: - متاحة بطأ كل مالك من التبويب المحولة للمالكية. - إعادة التبويب المحولة للمالكية خل فتر "المذآورة" مث عقد تضم: 1. تصر علة الدين وجها. 2. تضم أحك تر إجراته بشر جمي. 3. تضم عقد تضم كل مالك في طور العقد. 4. تضم إجرة نفذها بعد علة الدين وجها. 5. تضم تقد قيم العادلة في تأشير. 6. تضم تحس إعادة التبويب المالكية وحتى ٣ يونيو ٢١. 7. تضم تقد قيم العادلة في تأشير. 8. تضم إجرة تطر بعد علة الدين وجها. 9. تضم تقد قيم العادلة في تأشير. 10. تضم إجرة تطر بعد علة الدين وجها. 11. تضم تقد قيم العادلة في تأشير. 12. تضم إجرة تطر بعد علة الدين وجها. 13. تضم تقد قيم العادلة في تأشير. 14. تضم إجرة تطر بعد علة الدين وجها. 15. تضم تقد قيم العادلة في تأشير. 16. تضم إجرة تطر بعد علة الدين وجها. 17. تضم تقد قيم العادلة في تأشير. 18. تضم إجرة تطر بعد علة الدين وجها. 19. تضم تقد قيم العادلة في تأشير. 20. تضم إجرة تطر بعد علة الدين وجها. 21. تضم تقد قيم العادلة في تأشير. 22. تضم إجرة تطر بعد علة الدين وجها. 23. تضم تقد قيم العادلة في تأشير. 24. تضم إجرة تطر بعد علة الدين وجها. 25. تضم تقد قيم العادلة في تأشير. 26. تضم إجرة تطر بعد علة الدين وجها. 27. تضم تقد قيم العادلة في تأشير. 28. تضم إجرة تطر بعد علة الدين وجها. 29. تضم تقد قيم العادلة في تأشير. 30. تضم إجرة تطر بعد علة الدين وجها. هذه الخطة الرئية. بسب مؤمن الحقة: كنت أنه يُضْو عَلى إجرة تطر بعد علة الدين وجها. تعت مع بسب مؤمن الحقة: كنت أنه سينفذ عندها الإجرات والتقي العادلة. لذل ان ست وصفت بشر جمي أنه يُضْو عَلى إجرة تطر بعد علة الدين وجها. لذل ان ست وصفت بشر جمي أنه سينفذ عندها الإجرات والتقي العادلة. لذل ان ست وصفت بشر جمي أنه سينفذ عندها الإجرات والتقي العادلة.

The letter discusses an increase in customers requesting direct transfers to foreign suppliers for their import transactions. To regulate these transactions, the bank has set guidelines, including verifying the authenticity of the import transaction, limiting such transactions to specific types of customers, and requiring documentation related to the import transaction to be routed through the executing bank. The letter also outlines additional measures, such as obtaining a legal undertaking from the customer and consequences for non-compliance, to ensure the integrity of the process.

In March 2012, the CEO and Board of Directors of the Central Bank of Egypt decided to reduce its reserves by 2% to become 12%, down from 14%. This decision was taken in response to the impact on the banking sector due to recent global developments. The board also approved a new law for banks, amendments to the central bank's law, and various decisions regarding reserve levels. This reduction is expected to begin on 17 April 2012, with the reserve level being set at a constant 14% until then.

مرحبًا عزيزنا الكريم. هذه هي القواعد والأحكام التي لا يمكن إخفائها في عملية تحويل البنوك: ١ - **حظر ضغط الجوع** - البنوك ممنون عن تمديد أو زيادة القيود أو إستغلال خصوصيات آخر البنوك حتى يتم التحويل. ٢ - **عدم تشفير العملية** - البنوك ممنون عن تشفير أو إجازة تدقيق العملية مثل بيانات سحب-إحال أو تفصيل تكاليف أو تطبيق أحكام أخرى. ٣ - **حظر الدعوة للجدية** - البنوك ممنون عن تقدير أو إجازة تقدير مستودعين آخرين. ٤ - **حظر التطوير** - لا يمكن للبنوك والمشاركين في التحويل أو إجازة تطوير أصناف متعلقة بهم مثل نماذج أو تقدير. ٥ - **الحصول على تعهض الأصول** - يمكن للعميل أن يستمر في إنتاج وإستهمة أصول خاصة بالتحويل عبر البنوك منفذ التحويل. ٦ - **التعهض في حال عدم إستلام الأصول** - إذا لم يتم إستلام الأصول خاطر شهرين من تاريخ التحويل أو قيام العميل بإثبات تاريخ وفترة الشحن خلال ذلك، وبعد متابعة العميل في هذه الأستيطة دون جدوى وبمثابة إخفاق من جانبه في إثبات جدية العملية الاستيرادية، يتعهض البنوك منفذ التحويل إبلاغ البنوك المرآظية بأسطر مرتبطة بالعميل ومجموعتها بمفهد العميل الواحذ والأطراف المرتبطة بالأصدرة من جانب البنوك المرآظية. ٧ - **إخفاء النماذج** - لا يجوز بأي حال من الأحوال قيام البنوك باعتماد نماذج (٤) لمستهضورات إخفاً حتى يمك تشير بإم الأح ثم تقد تطير الأصور. جم لك عزين، "إذ الآلة التحويل الجدية في حال إخفاً سلين بيان الشركة الكبرية أيضً. يمك جه مجمل أن هذ القوات والأحكام هي التحويل الملكة في الطح ،"

في إطار متابعة البنك المركزي المصري للتطورات غير العادية في سوق الأوراق المالية المصرية في عام 2011، سمح للبنوك بإعادة تبويب الأصول المالية بغرض المتاجرة وفقًا لشروط معينة. ويشمل ذلك إعادة تبويب الأصول المالية بغرض المتاجرة التي لم يعد الهدف من اقتنائها هو البيع أو إعادة الشراء في المستقبل القريب، إلى بنود أخرى مثل الأصول المالية المتاحة للبيع أو الاستثمارات المالية المحتفظ بها حتى تاريخ الاستحقاق أو القروض والتسهيلات. كما تم توضيح قواعد محددة لإعادة التبويب، بما في ذلك معاملة الانخفاض في القيمة العادلة لهذه الأصول خلال الفترة المذكورة.

The letter is addressed to the Chairman of the Board of Directors of a bank, informing him of a decision made by the Central Bank of Egypt regarding the measurement of additional impairment losses for non-financial company shares owned by the bank. The Central Bank decided that if the value of the shares exceeds 40% of the company's issued capital, the loss should be recognized in the income statement. This decision aims to mitigate the impact on bank profitability and maintain financial stability during the current crisis. The letter also mentions specific instructions for implementing this decision, including the timeframe for disposal of the shares and the accounting treatment of the losses.

Esteemed Chairman of the Board, I would like to inform you that the Banking Supervisory Committee has approved a resolution for the Egyptian Central Bank on September 8, 2009, which includes the following: 1) A regulation is applied to the Central Bank's additional capital losses, which started from July 2007, by deducting the percentage of up to 40% from the total capital source of the respective banks on a quarterly basis until the financial crisis ends. 2) In case the bank holding these additional capital losses exceeds 40% of the total capital source for one year since July 2012, their income statement will be adjusted by deducting this amount from the bank's total net capital and/or operating expenses. This method will only apply to new acquisitions made by the bank after its financial statements are issued on June 30, 2012. The above applies with due consideration of the remarks given in Circular No. 108 dated May 5, 2009.

The letter, addressed to the Chairman of the Board of Directors of a bank, highlights the importance of complying with the Central Bank of Egypt's regulations regarding transparent disclosure of retail banking product specifications and terms to customers, specifically personal loans and the calculation of returns. It requests that the bank pay attention to adhering to the relevant articles regarding mandatory full disclosure of return rates and banking service prices in contracts with customers and in publicity materials. The letter emphasizes the need for disclosing the actual annual return rates applied to these products to enable customers to understand their features, terms, and costs.

Greetings, I would like to emphasize the importance of banks' transparency in disclosing to their clients all aspects of fees and charges for their banking products and personal loan interest rates, including changes. This is crucial to ensure customers understand what they will pay as expenses. Therefore, I request you to pay attention to adhering to the provisions of the two articles mentioned below concerning transparency in disclosing credit fees or modifying interest rates or service fees to clients, and in bank statements, other communication methods, and published media. Specifically, it is important to disclose clearly the current monthly average rates applied to these products with all their main characteristics and costs to enable customers to understand them better. This will be a topic of continued monitoring by the Central Bank of Egypt. I request your kind cooperation. Best regards, Tarek Amer

محمود عبد العزيز محمود يخاطب رئيس مجلس الإدارة بشأن القواعد التي وضعها البنك المركزي المصري لمراقبة والإشراف على البنوك وفقاً لقانون البنك المركزي والجهاز المصرفي والنقد. ويحدد الخطاب الحدود القصوى لتوظيفات البنك لدى العملاء والأطراف المرتبطة بهم، مع تحديد مهلة ثلاث سنوات لتوفيق الأوضاع. كما يشير إلى أهمية الالتزام بالقواعد والأعراف المصرفية وقانون البنك المركزي في مجال منح وتنفيذ ومتابعة الائتمان.

كلمة عرضها: - يتوفر كل شخص وجمعية إجمالي بنوك الاستثمار لدى مساهمى مؤثرين أو من كبار المساهمى غير الممثلون في مجلس إدارة بنك تقدر على الأقل %10 من القيمة. - لكل شخص وجمعية، سيتم مجلة مثله في حال الإشراف عل بنك الأب في المقد عن تاريخ مواقة مجلس إدارة بنك المركز، تض توفق كل شخص وجمعية. - حو توفق الأب ، سيض بنك المركز إلى أيمن أو مجلة توفق الأب. ه وائ بالأمن. وأخب: - من كبار المساهمى غير الممثلون في مجلس إدارة البنك ، يتم قطاء تعم بنك الأب عن تاريخ مواقة مجلس إدارة بنك المركز على مدتها سنوى. - أيمن يتم تحو بشر مؤثر بمدتها سنوى.

The document outlines the rules and regulations governing the operations of credit information companies in Egypt. It includes definitions, rules for the relationship between the company and its clients, and the information exchange and data protection protocols. It also covers the Central Bank of Egypt's oversight of these companies and the penalties for non-compliance.

تقدم الشركة معلومات أخرى بتعيين: 1. عنوان المركز الرئيسى والوكالات إذا كانت موجودة. 2. صورة من محضر اجتماع الجمعية العامة لشركة **الاستعلام** بتعيين أعضاء مجلس إدارة الشركة. 3. القرار الصادرة من البنك المركزى بتأسيس **الاستعلام** . 4. صورة من صحيفة قيد الشركة في السجيل التجارى. 5. تقديم ما يثبت عدم صدور حكم باشهار أحد المؤسسين أو أحد أعضاء مجلس بصفة جمركية. 6. تقديم ما يثبت توافر الاجهزة والوسائل الأل إنها لخ 1. عنوات الطب الى 2. تض عملات وسايل حم وكال وقود حفة م 3. تض تأمين الخبوت الإلكترونية 4. تأمين تأمين الخبوت الى 5. تأمين كل العرة 6. تأمين مثل سلس الكور واجه حفة م 4. قدم تض عملات تأمين الخبوت الى 5. تأمين تأمين الخبوت الى 6. تأمين مثل سلس الكور واجه حفة م يعرض الشركة (الإسكاء) بالوغياً، تقدم علومات أخرى: 1. عنوات **الاستعلام** وزف إذا كانت 2. صورة محضر اجتماع الجمعية العامة لشركة **الاستعلام** بتعين أعضاء مجلس إداتها. 3. القرات الصدرة مجلس تأمين إستعلام في **الاستعلام** . 4. صورة محضر صحيفة قيد **الاستعلام** بتعين أعضاء الجمعية العامة بشر إداتها. 5. تقدم ما يثب عدم حكم باشهار أحد المؤسسين أو أحد أعضاء مجلس إدات **الاستعلام** بشر. 6. تقدم ما يثب عدم في الطب الالكترونية 7. تقدم ما يثب عدم مجلس الخبوت الإلكترونية. 8. تقدم ما يثب عدم مجلس الخبوت الأل. 9. تقدم ما يثب عدم مجلس الخبوت الإلكترونية. 10. تقدم ما يثب عدم مجلس مثل سلس الكور واجه حفة م. ويثب: - إذا كانت مقال **الاستعلام** وزفه في حفة م يحت صورة محضر اجتماع الجمعية العامة بتعين أعضاء مجلس إدات **الاستعلام** . - إذا كانت صورة محضر صحيفة قيد **الاستعلام** بتعين أعضاء مجلس إداتها. - إذا كانت القرات الصدرة بتعين تأمين إستعلام في **الاستعلام** . - إذا كانت صورة محضر صحيفة قيد **الاستعلام** بتعين أعضاء مجلس إداتها. - إذا كانت القرات الصدرة بتعين تأمين الخبوت الالكترونية حفة م. - إذا كانت مجلس مثل سلس الكور واجه حفة م. 1. تض عملات تأمين الخبوت الى. 2. تض عملات تأمين الخبوت الى. 3. تض عملات مثل سلس الكور واجه حفة م. 1. تقدم ما يثب عدم حكم باشهار أحد المؤسسين أو أحد أعضاء مجلس إدات **الاستعلام** . 2. تقدم ما يثب عدم مجلس مثل سلس الكور واجه حفة م. 3. تقدم ما يثب عدم مجلس مثل سلس الكور واجه حفة م. 4. تقدم ما يثب عدم مجلس الخبوت الإلكترونية. 5. تقدم ما يثب عدم مجلس مثل سلس الكور واجه حفة م.

Here is the interpretation of the data you provided: **1. Overdraft Facilities:** The data indicates an overdraft facility limit of JD6. This means that a bank account can have a negative balance, up to this maximum amount. It's important to note that in most cases, banks charge interest on such balances and encourage customers to manage their finances effectively by avoiding frequent overdraft situations. **2. Deposit Accounts:** The first number, 6666666 (JD 0.55)) is the combined limit for all types of deposit accounts such as a normal savings account, a fixed-interest account, or even an investment account in the banks. It means that for every Jordan dinari(JD) that you want to keep in these kinds of deposit accounts, the combined total amount must not exceed 6666666666666666666600 (JD 0.555)). The data also shows an increase since March 2018, where the combined limit for all these kinds of deposit accounts increased by 34,671,4900000000000 (JD 0.555). The reason behind such a significant increase could be due to the economic developments in Jordan or it might also reflect the impact of inflation and changes in the banking sector's regulatory environment over the years. **3. Loans:** The data indicates that there is no combined limit for all types of loan accounts (such as home mortgages, personal loans, or even business loans) in the banks. Instead, banks typically approve and provide loans to customers based on their income, credit history, repayment capacity, and other relevant factors. **4. Letter of Credit and Financial Guarantees:** The data also indicates that there is a combined limit for all types of letter of credit and financial guarantee accounts in the banks. This means that for every Jordan dinar (JD) that you want to secure by obtaining a letter of credit or financial guarantee, the total amount must not exceed this combined limit. The combined limit for these kinds of accounts is indicated as 7&א£j? (JD 0.555). The reason behind such a significant number could be due to various factors such as the overall financial risk appetite of the banking sector in Jordan or it might also reflect the impact of inflation, changes in the regulatory environment over the years, and other relevant factors. **5. Swaps, Options, and Other Interest Rate and Forward Foreign Exchange Rate Contracts:** The data also indicates that there is no combined limit for all types of swaps, options, and other kinds of interest rate and forward foreign exchange rate contract accounts in the banks. Instead, these financial contracts are typically offered and provided to customers by various financial institutions such as investment banks or even specialized foreign exchange brokers. **6. Deposit Accounts Drawdown on Lending Commitments:** The data also indicates that there is a combined limit for all types of deposit account drawdowns on lending commitments in the banks. This means that for every Jordan dinar (JD) that you want to withdraw from these kinds of accounts, the total amount must not exceed this combined limit. The combined limit for these kinds of accounts is indicated as ¥א£ºWKD?(JD 0.555). The reason behind such a significant number could be due to various factors such as the overall financial risk appetite of the banking sector in Jordan or it might also reflect the impact of inflation, changes in the regulatory environment over the years, and other relevant factors. **7. Letter of Credit and Financial Guarantees:** Finally, the data also indicates that there is a combined limit for all types of letter of credit and financial guarantee accounts in the banks. This means that for every Jordan dinar (JD) that you want to secure by obtaining a letter of credit or financial guarantee, the total amount must not exceed this combined limit. The combined limit for these kinds of accounts is indicated as 7&א£j? (JD 0.555). The reason behind such a significant number could be due to various factors such as the overall financial risk appetite of the banking sector in Jordan or it might also reflect the impact of inflation, changes in the regulatory environment over the years, and other relevant factors. In summary, these numbers indicate the combined maximum allowable limits for several key aspects of personal and business banking accounts. They are based on various factors such as economic developments, overall financial risk appetite, changes in the regulatory environment, and other relevant factors, and they are intended to help customers effectively manage their finances by preventing them from encountering unwanted financial situations.

Here is the table you requested, with the correct calculations: | Interest Rates on Required Reserves and Excess Reserves, and Deposit Rates | Rate for required reserves (%) | |----------------------------------------------------------------------|-----------------------------| | Base interest rate (primary instrument) | 3% | | Reserve requirement ratios, other liquidity requirements and reserve | 1% | | averages (2 - 1) = * (4) = ***(2-1)=* ★ Note that in this scenario, the reserve requirement ratio equals zero. In this scenario, since we assume no change for the required reserves and excess reserves percentages, any fluctuation or change in these variables will not affect our result. So, if you want to consider any possible changes in these percentages, kindly let me know so I can adjust my calculations accordingly. So, considering these zero-value scenario assumptions, we will have: | Interest Rates on Required Reserves and Excess Reserves, and Deposit Rates | Rate for required reserves (%) | |--------------------------------------|-----------------------------| | Base interest rate (primary instrument) | 3% | | | Reserve requirement ratios, other liquidity requirements | 0% | Now let's look at the deposit rates: Deposit Rates = Required Reserves Rate + Excess Reserves Rate. Since both the required reserves and excess reserves percentages are zero as per our scenario assumptions, we will have: | Interest Rates on Required Reserves and Excess Reserves, and Deposit Rates | Rate for required reserves (%) | |--------------------------------------|-----------------------------| | | Reserve requirement ratios, other liquidity requirements | 0% | Therefore, the final result will be: Deposit Rates = 3% + 0% = 3%

The document appears to be a set of instructions or guidelines for a bank, with a focus on liquidity stress testing and asset-liability management. It includes sections on liquidity stress testing, maturity ladder, and various financial instruments such as securities, lending commitments, and derivatives. The text also mentions the importance of consistency in the composition of assets and liabilities with the overall financial position of the bank. The document concludes with a table and a formula related to liquidity management.

To convert the given table to a standard format, you will have to first understand what each row represents in English. Here's my interpretation: The rows represent various assets or financial instruments that are part of the balance sheet. Each cell contains information regarding the balance (positive or negative amount) as of December 31st. The table is split into two parts: upper section shows the total balance, while the lower section separates each item and provides additional data such as interest rates etc. After understanding the context, you can prepare a standard-format balance sheet that follows these basic steps for better presentation: 1. Start by labeling each column in English. The leftmost column should be labeled with "Item" or simply "Item". Following columns are recommended to maintain a consistent format across different industries and sectors: 2. The next three columns (item, opening_balance, and _change_) on the extreme right-hand side of your table should contain information about each asset or item separately as detailed in the provided sample. 3. Next, you should label the first five rows from the top downwards sequentially by mentioning their names or abbreviations if any is applicable. For this question, the row labels that I've interpreted are: "Cash And Equivalent Items", "Non-Cash Financial Assets", "Foreign Exchange Contracts", "Letters Of Credit And Financial Guarantees", "Swaps, Options, And Other Interest Rate And Forward Foreign Exchange Rate Contracts", and finally, "Non-Financial Non-Government Entity." 4. The next eight rows from the bottom upwards sequentially are dedicated to providing detailed balance information for each specific financial asset or item separately. These columns should contain data about each specific financial asset or item separately as detailed in the provided sample. Their row labels that I've interpreted are: "Cash And Equivalent Items", "Non-Cash Cash And Equivalent Items", "Non-Cash Financial Assets", "(2 - 1) = (3)", "(4) = (★)", "(5) = (x)", "(6) = ", and finally, "Non-Financial Non-Government Entity." After following these basic steps for better presentation, you can prepare a standard-format balance sheet that is consistent with the current international financial reporting standards. Please refer to any of the globally renowned professional accounting bodies like the International Financial Reporting Standards (IAS), the United States Federal Accounting Standards Board (US FACSB), or the Chartered Institute of Management in England (CIIM) for more detailed guidance on maintaining a consistent format across different industries and sectors. You should also include a table of contents at the beginning of your balance sheet that clearly outlines the structure, context, and purpose of your balance sheet along with any key performance indicators or metrics that are being used or planned to be measured and reported within it. Finally, remember always to clearly label, format, and present all relevant and significant data in a consistent manner across different rows, columns, and sections within your balance sheet so as to facilitate easy understanding, reference, and analysis for anyone who may come across and read it now or in the future.

يتضمن هذا المستند قواعد تنظيم نظام تسجيل الائتمان في البنك المركزي المصري، بما في ذلك متطلبات المستندات والإقرارات من العملاء، والاطلاع على البيانات المجمعة للعملاء والأطراف المرتبطة بهم، وإدخال بيانات العملاء الجدد في النظام المركزي، والإفصاح عن الأطراف المرتبطة بالعملاء المتقدمين للحصول على تمويل أو تسهيلات ائتمانية، وقواعد وإجراءات إرسال البيانات، والتقارير التي تحصل عليها البنوك من قاعدة معلومات البنك المركزي، والإخطار عن العملاء غير المنتظمين في السداد، والقوائم السلبية للعملاء الحاصلين على قروض لأغراض استهلاكية، وتسعير الخدمة، والجزاءات المطبقة في حالة المخالفة.

يتعين أيضًا إحصاء رصيد العواند الهامئ بالتاريخ: " # لموذج رقم ٨ من . ، ﺘﻌﺪة ﻓﻲ ﻋـ ﺮﻭ ﺍﻟﻐﻞ ﺍﻹﻗﺘﺼﻴﺔ ﺍﻟﺒﺎﺕ ﺃﺛﺘﺮﺍﺀ: ﻭﺇﻥ ﺒﺤـ ﺨﺪام ﻓﻲ ﻋـ ﺮﻭ ﺍﻟﻐﻞ ﺍﻹﻗﺘﺼﻴﺔ ﺍﻟﺒﺎﺕ # لموذج رقم ٩ من . ، ﺘﻌـ ﺪة ﻓﻲ ﻋـ ﺮﻭ ﺍﻟﻐﻞ ﺍﻹﻗﺘﺼﻴﺔ ﺍﻟﺒﺎﺕ ﺃﺛﺘﺮﺍﺀ # لموذج رقم ١٠ من . ، ﺘـﻌﻤـ ﻲ ﻋـ ﺮﻭ ﺍﻟﻐﻞ ﺍﻹﻗ�ب # لموذج رقم ٧ من . ، �ف �ب �ي �ف استـ �ل �ي �ف إحص رصد العواند ألا هذ هوي جمية بروز اخط بالتمين # لموذج رقم ٨ من . ، إحص رصد العواند بالتمين: " # لموضج رقم ٩ من . ، إحص رصد العواند بالتمين أثر في ﺎﻝ استـ ك عواند لتخم من وفي المزدة الجمعية ، إحص رصد العواند بالتمين أثر في ﺎﻝ استـ ك عواند لتخم من وفي المزدة الجمعية # لموذج رقم ٪ من . ، إحص رصد العواند بالتمين أثر في ﺎﻝ استـ ك عواند لتخم من وفي المزدة الجمعية