{"id":635055,"date":"2018-01-31T04:19:56","date_gmt":"2018-01-31T04:19:56","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/01\/31\/banks-to-begin-reporting-financials-under-ifrs-9-starting-from-2019-cbe\/"},"modified":"2018-01-31T04:19:56","modified_gmt":"2018-01-31T04:19:56","slug":"banks-to-begin-reporting-financials-under-ifrs-9-starting-from-2019-cbe","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/01\/31\/banks-to-begin-reporting-financials-under-ifrs-9-starting-from-2019-cbe\/","title":{"rendered":"Banks to begin reporting financials under IFRS 9 starting from 2019 -CBE"},"content":{"rendered":"

Banks in Egypt will be required<\/a>to begin presenting their financial statements in accordance with the IFRS 9 accounting standards starting from FY 2019, the central bank announced. The central bank is expecting all banks to present it with a plan to implement IFRS 9 with a clear timeline by the end of June 2018. Banks will trial IFRS 9 regulations with their auditors for the 2018 results, which will be presented according to current regulations. The central bank\u2019s directive also requires banks to report to it their capital adequacy ratios on a quarterly basis after taking into consideration IFRS 9 regulations.<\/p>\n","protected":false},"excerpt":{"rendered":"

Banks in Egypt will be requiredto begin presenting their financial statements in accordance with the IFRS 9 accounting standards starting from FY 2019, the central bank announced. The central bank is expecting all banks to present it with a plan to implement IFRS 9 with a clear timeline by the end of June 2018. Banks […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[9298],"tags":[2372,72],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-635055","post","type-post","status-publish","format-standard","hentry","category-banking-finance","tag-banking-finance","tag-enterpriseam","wpautop","entry"],"acf":{"mongo_id":"00ec63aa-1667-4dc2-b4b1-f61342659c3f","order":"0","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","full_issue_title":"Banks to begin reporting financials under IFRS 9 starting from 2019 -CBE","related_issue":[635018],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/7\/.8fce0a5d-41f1-4c6e-b590-46e3b6a2e5b2.mp3"},"yoast_head":"\nBanks to begin reporting financials under IFRS 9 starting from 2019 -CBE - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2018\/01\/31\/banks-to-begin-reporting-financials-under-ifrs-9-starting-from-2019-cbe\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Banks to begin reporting financials under IFRS 9 starting from 2019 -CBE\" \/>\n<meta property=\"og:description\" content=\"Banks in Egypt will be requiredto begin presenting their financial statements in accordance with the IFRS 9 accounting standards starting from FY 2019, the central bank announced. The central bank is expecting all banks to present it with a plan to implement IFRS 9 with a clear timeline by the end of June 2018. Banks […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2018\/01\/31\/banks-to-begin-reporting-financials-under-ifrs-9-starting-from-2019-cbe\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2018-01-31T04:19:56+00:00\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/01\/31\/banks-to-begin-reporting-financials-under-ifrs-9-starting-from-2019-cbe\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/01\/31\/banks-to-begin-reporting-financials-under-ifrs-9-starting-from-2019-cbe\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Banks to begin reporting financials under IFRS 9 starting from 2019 -CBE\",\"datePublished\":\"2018-01-31T04:19:56+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/01\/31\/banks-to-begin-reporting-financials-under-ifrs-9-starting-from-2019-cbe\/\"},\"wordCount\":105,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"BANKING + FINANCE\",\"EnterpriseAM\"],\"articleSection\":[\"Banking + Finance\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/01\/31\/banks-to-begin-reporting-financials-under-ifrs-9-starting-from-2019-cbe\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2018\/01\/31\/banks-to-begin-reporting-financials-under-ifrs-9-starting-from-2019-cbe\/\",\"name\":\"Banks to begin reporting financials under IFRS 9 starting from 2019 -CBE - 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According to the guidelines, banks following fiscal year (as opposed to calendar) reporting will be required\u2026","rel":"","context":"In "Banking + Finance"","block_context":{"text":"Banking + Finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/banking-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":624443,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/09\/09\/banque-misr-banque-du-caire-tap-moodys-to-provide-services-for-implementation-of-ifrs-9\/","url_meta":{"origin":635055,"position":1},"title":"Banque Misr, Banque du Caire tap Moody\u2019s to provide services for implementation of IFRS 9","author":"enterpriseam admin","date":"9 September 2018","format":false,"excerpt":"Banque Misr and Banque du Caire have reached an agreement with Moody\u2019s that will see the credit agency provide the two banks with the software and advise them on the technical and financial aspects of implementing IFRS 9 accounting standards, unidentified sources tell Al Mal. Moody\u2019s reportedly beat out six\u2026","rel":"","context":"In "Banking + Finance"","block_context":{"text":"Banking + Finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/banking-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":602525,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/03\/31\/egyptian-accounting-standards-brought-in-line-with-ifrs-regs-under-new-amendments\/","url_meta":{"origin":635055,"position":2},"title":"Egyptian Accounting Standards brought in line with IFRS regs under new amendments","author":"enterpriseam admin","date":"31 March 2019","format":false,"excerpt":"Egyptian accounting standards change: Investment and International Cooperation Minister Sahar Nasr issued on Thursday amendments to the Egyptian Accounting Standards to bring the standards in line with IFRS 9 and IFRS 15 regulations, according to a ministry statement.","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":621925,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/11\/21\/fra-brings-egyptian-accounting-standards-in-line-with-ifrs\/","url_meta":{"origin":635055,"position":3},"title":"FRA brings Egyptian Accounting Standards in line with IFRS","author":"enterpriseam admin","date":"21 November 2018","format":false,"excerpt":"The Financial Regulatory Authority (FRA) has amended the Egyptian Accounting Standards (EAS) to bring them in line with the IFRS, FRA boss Mohamed Omran announced yesterday. The amendments include adding standards to be compatible with IFRS 9 and 15, as well as a third standard to resolve discrepancies between the\u2026","rel":"","context":"In "Egypt Politics + Economics"","block_context":{"text":"Egypt Politics + Economics","link":"https:\/\/enterpriseam.com\/egypt\/category\/egypt-politics-economics\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":626892,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/07\/15\/local-banks-stand-to-benefit-from-central-banks-hold-on-key-interest-rates\/","url_meta":{"origin":635055,"position":4},"title":"Local banks stand to benefit from central bank\u2019s hold on key interest rates","author":"enterpriseam admin","date":"15 July 2018","format":false,"excerpt":"Local banks stand to benefit from the central bank\u2019s hold on interest rates, Beltone Financial bank analyst Nancy Fahmy told Bloomberg in an interview (watch, runtime: 4:16). 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