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Central Bank rules for registration denial
The legal provision details the conditions and procedures for applying to register banks, branches, or agents with the Central Bank of Egypt. This includes paying the prescribed fees and completing the accompanying administrative procedures. It clarifies the situations in which the application may be rejected with a justified reason, such as violations of the law, failure to meet economic conditions, or similarity in the trade name. The law aims to regulate the registration process and ensure its alignment with the public interest, specifying the response time to applications, the rights to reject, and the obligation to notify the applicant in advance. Additionally, it states that fees are non-refundable in cases of rejection.
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