Rules for foreign bank branch license in Egypt

Law No. 194 of 2020 regulates the procedures for obtaining licenses to establish branches of foreign banks in Egypt. An initial approval request must be submitted to the Central Bank, including the necessary documents and a fee of $50,000. This request is then presented to the Board of Directors for a decision within 90 days, with the possibility of extension. After obtaining preliminary approval, a final license application is submitted to the Governor, accompanied by guarantees such as securing deposits of the main headquarters and official proxies. Registration fees, ranging from $25,000 to 500,000 Egyptian pounds depending on the type of license, must be paid. Approval from the Governor is required before starting construction or opening. The procedures include specifying required documents, providing guarantees, and following official registration steps to ensure the clear and organized regulation of foreign bank branches operating in Egypt.

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