CBE issues licensing regulations for digital banks ...Egypt

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The Central Bank of Egypt (CBE) on Wednesday issued rules for licensing, registering, and supervising digital banks, which represents an important step in keeping pace with global developments in the financial technology industry and meeting the needs of customers in the Egyptian market, according to a statement by the CBE. The licensing requirements for digital banks stipulate that the issued and paid-up capital not be less than two billion pounds in the event that all bank business is practiced, except for financing large companies. Digital banks can finance large companies, provided that the capital is increased to four billion LE, as well as that the largest shareholder is an institution

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Last updated : 13 July 2023 clock 12:01 PM

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CBE issues licensing regulations for digital banks ...Egypt

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