Nine banks will need to make capital adjustments to comply with CBE, Banking laws

Nine banks will need to make capital adjustments to comply with CBE, Banking laws: There are nine banks in Egypt which must make adjustments to meet the minimum cap requirement of EGP 1.5 bn laid out in leaked draft amendments to the Central Bank and Banking acts, by Al Mal’s count. The list includes the Industrial Development and Workers Bank of Egypt (IDWB), Misr Iran Development Bank, Attijariwafa Bank Egypt, Crédit Agricole, ABC Bank, the Arab Investment Bank, and the Housing and Development Bank. IDWB would have the hardest time meeting these adjustments as its capital amounts to EGP 500 mn.