Egypt’s banks can now hold larger stakes in payment processing companies

REGULATION WATCH- Banks are now allowed to hold larger stakes in payment processing companies after the Central Bank of Egypt (CBE) lifted a cap that limited banks’ holdings in these companies at 40%, according to a circular (pdf). The previous limit was imposed in 2004. Banks are still held to a 2014 regulation that requires them to notify the CBE two months in advance if they plan on contributing more than 5% of a company’s issued capital.