Latest in Tag: Banking Law Highlight
Latest in Tag: Banking Law
Law stipulates minimum capital of EGP 5bn for banks operating in Egyptian market, $150m for foreign bank branches
The approval was given after a standing vote on the new law, with a two-thirds majority of the parliament members voting their approval.
Draft law provides for repeal of the Law on the Central Bank and the Banking System issued by Law No. 88 of 2003
Khodeir’s comments came during a roundtable discussion held to tackle the banking draft law and its role in enhancing Egypt’s economic development.
Law grants CBE’s board right to issue regulation, circulation, dealing rules with such types of currencies, money
Banks such as IDB, ABE, ELAB, EBE do not fall under the specialised banks category, will not be exempted from EGP 5bn minimum capital: Negm
Pharos believes that the capital increase could trigger a wave of porfit retentions and mergers and acquisitiions.
The parent group supports bank’s unity in Egypt due to importance of Egyptian market, says Venas
Kuwait agrees preliminary to renew $4bn deposits to Egypt, says CBE governor
CBE surveyed IMF and World Bank experts regarding the law after field visits to several central banks, Amer said in an earlier statement