CBE allows 40 Pct ownership capital for banks
Written by Egypt News   
Tuesday, 13 October 2009
Central Bank of Egypt (CBE) introduced new regulations whereby banks are prohibited from owning more than 40 percent of the paid in capital of non-financial firms.

Ownership of more than 40 percent of non-financial firms is confined to these assets perverted to banks in repayment of bad loans.

In case of ownership exceeding 40 percent, the bank is required to record extra losses on the extra percentage of ownership.

 

 

 

EGYPT NEWS

» No Comments
There are no comments up to now.
» Post Comment
Email (will not be published)
Name
Title
Comment
 remaining characters
Captcha Image
Regenerate code when it's unreadable