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اليوم السابع
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Central Bank Law on Currency Rules
The Central Bank and Banking System Law regulates currency issuance in Egypt, granting the Central Bank exclusive rights to issue and revoke currency. The law stipulates that banknotes must bear the signature of the governor. It also prohibits anyone other than the bank from issuing notes or coins that resemble currency, or from defacing or discrediting it. Additionally, the text emphasizes the legal validity of issued currency and underscores the necessity for it to be backed by a permanent reserve of gold, foreign currency, financial securities, and both Egyptian and foreign government bonds to guarantee its value.
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