The Arab International Bank is Subj
The Arab International Bank is Subjected to the Supervision of the Central Bank
On 5 June 2012, the Board of Directors of the Central Bank of Egypt ("CBE") issued decision No. 1105 of 2012 requiring the registration of the Arab International Bank in the Banks’ Registry at CBE, allowing it to deal in foreign and local currencies.[1]
The decision comes in response to wide criticism of the Bank in the last few years as it operated without full CBE supervision.
[1] Central Bank of Egypt Decision No. 1105/2012 on the registration of the Arab International Bank in the Banks’ Registry at the Central Bank, Egyptian Gazette, Issue No. 138, 16 June 2012.
On 5 June 2012, the Board of Directors of the Central Bank of Egypt ("CBE") issued decision No. 1105 of 2012 requiring the registration of the Arab International Bank in the Banks’ Registry at CBE, allowing it to deal in foreign and local currencies.[1]
The decision comes in response to wide criticism of the Bank in the last few years as it operated without full CBE supervision.
[1] Central Bank of Egypt Decision No. 1105/2012 on the registration of the Arab International Bank in the Banks’ Registry at the Central Bank, Egyptian Gazette, Issue No. 138, 16 June 2012.