• About Us
  • Contact Us
Friday, August 12, 2022
Sada El balad
Supervisor
Elham AbolFateh
Editor in Chief
Mohamed Wadie
  • Home
  • News
  • Business
  • Schools & Universities
  • Arts & Culture
  • Entertainment
  • Hospitality
    • Food & Beverage
    • Travel & Tourism
    • Lodging
    • Recreation
  • Sports
  • MORE
    • Lifestyle
    • Opinion & Analysis
    • Technology
    • In-depth
    • Videos & Features
  • صدي البلد جامعات
  • صدي البلد عقارات
No Result
View All Result
  • Home
  • News
  • Business
  • Schools & Universities
  • Arts & Culture
  • Entertainment
  • Hospitality
    • Food & Beverage
    • Travel & Tourism
    • Lodging
    • Recreation
  • Sports
  • MORE
    • Lifestyle
    • Opinion & Analysis
    • Technology
    • In-depth
    • Videos & Features
  • صدي البلد جامعات
  • صدي البلد عقارات
No Result
View All Result
Sada El balad
Supervisor
Elham AbolFateh
Editor in Chief
Mohamed Wadie

CBE Delivers Draft Banking Act to Cabinet

Taarek Refaat by Taarek Refaat
12:58 PM April 26, 2019
CBE

CBE

Share on FacebookShare on Twitter

In light of current reforms, the Central Bank of Egypt (CBE) delivered, earlier this month, a new draft banking act to the Cabinet for approval.

The Council of Ministers’ consultants hailed the new bill, which is in line with the approach of upgrading the banking sector expectations.

Advertisements

Objectives

Among the objectives of the legislative framework, is the early intervention of the CBE to prevent financial crises by providing assistance to insolvent banks and implementing advanced international discipline in the sector.

The new law also strengthens the independence of the CBE in the light of the provisions of the Constitution. The CBE will also regulate installments and financial technology systems, in addition to enhancing privacy for account holders.

Financial Technology

Technology will be used in electronic payments, check settlements, bank transactions and payment orders, replacing traditional methods.

For the first time in Egypt, the CBE will issue electronic money, a cash value denominated in pounds. The e-money, which is an electronic unit for online purchases, will be endured as a means of payment.

Images, documents, and electronic checks will be allowed during court disputes, developing the rules of governance of the Central Bank.

The law promotes transparency, protects customers rights and creates competition between banks to expand smaller consumer markets.

The bill sets the foundations for the membership of the boards of directors (BOD). It secures BOD rotation, fostering competition and diminishing conflict of interests to fulfill duties impartially.

 

Related Posts

Trump's Social Media App Goes Live in Apple's App Store
LATEST STORIES

 Washington Post: FBI Searches for Nuclear Documents at Trump’s Residence in Mar-a-Lago, Florida

August 12, 2022
Dutch Club Interested in Signing Emam Ashour
LATEST STORIES

Dutch Club Interested in Signing Emam Ashour

August 12, 2022
EMA Predicts Very Hot, Humid Weather Across Egypt on Thursday
LATEST STORIES

Unbearable Heat.. EMA Warns of Extreme Weather in Coming Hours

August 12, 2022
ARCE, Egypt Ink New Protocol Agreement on Cultural Preservation, Research
Arts & Culture

ARCE, Egypt Ink New Protocol Agreement on Cultural Preservation, Research

August 12, 2022
Yehia El Fakharany
Arts & Culture

Everything We Know So Far About Ramadan 2023 Drama Marathon

August 12, 2022
Tickets For Saudi-Egyptian Super Cup to Be Available on Aug. 18th
LATEST STORIES

Tickets for Saudi-Egyptian Super Cup to Be Available on Aug. 18th

August 12, 2022

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Popular Stories

Death Toll from Israeli Aggression on Gaza Rise to 43, 311 Injured
News

Russia deeply Concerned over Violence in Gaza

by Basant ahmed
August 10, 2022
0

The Russian Foreign Ministry expressed Moscow's deep concern over the violence in the Palestinian-Israeli conflict, calling on all parties involved...

FDA Approves Jynneos Vaccine for Emergency Use against Monkeypox

FDA Approves Jynneos Vaccine for Emergency Use against Monkeypox

August 9, 2022
Carla Gugino

Carla Gugino Joins “Lisa Frankenstein”

August 12, 2022
Ozzy Osbourne to Release New Album

Ozzy Osbourne Makes Rare Public Appearance

August 6, 2022
Greece's Head of Intelligence Services, PM Office's General Secretary Resign

Greece’s Head of Intelligence Services Resigns

August 6, 2022

We Chose for You

Death Toll from Israeli Aggression on Gaza Rise to 43, 311 Injured
News

Russia deeply Concerned over Violence in Gaza

by Basant ahmed
August 10, 2022
0

The Russian Foreign Ministry expressed Moscow's deep concern over the violence in the Palestinian-Israeli conflict, calling on all parties involved...

FDA Approves Jynneos Vaccine for Emergency Use against Monkeypox

FDA Approves Jynneos Vaccine for Emergency Use against Monkeypox

August 9, 2022
Carla Gugino

Carla Gugino Joins “Lisa Frankenstein”

August 12, 2022
Ozzy Osbourne to Release New Album

Ozzy Osbourne Makes Rare Public Appearance

August 6, 2022
Greece's Head of Intelligence Services, PM Office's General Secretary Resign

Greece’s Head of Intelligence Services Resigns

August 6, 2022
  • News
  • Antiques
  • Travel & Tourism
  • Business
  • Youth & Education
  • Sports
  • Arts & Culture
  • Lifestyle
  • Technology
  • Entertainment
  • Videos & Features
  • Opinion & Analysis

© 2019 see news -powered by 3a digital.

No Result
View All Result
  • Home
  • News
  • Business
  • Schools & Universities
  • Arts & Culture
  • Entertainment
  • Hospitality
    • Food & Beverage
    • Travel & Tourism
    • Lodging
    • Recreation
  • Sports
  • MORE
    • Lifestyle
    • Opinion & Analysis
    • Technology
    • In-depth
    • Videos & Features
  • صدي البلد جامعات
  • صدي البلد عقارات

© 2019 see news -powered by 3a digital.