{"id":647446,"date":"2017-05-10T03:52:57","date_gmt":"2017-05-10T03:52:57","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2017\/05\/10\/cbe-issues-new-directives-to-regulate-relationship-between-banks-and-fx-bureaus\/"},"modified":"2017-05-10T03:52:57","modified_gmt":"2017-05-10T03:52:57","slug":"cbe-issues-new-directives-to-regulate-relationship-between-banks-and-fx-bureaus","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2017\/05\/10\/cbe-issues-new-directives-to-regulate-relationship-between-banks-and-fx-bureaus\/","title":{"rendered":"CBE issues new directives to regulate relationship between banks and FX bureaus"},"content":{"rendered":"

Egyptian banks can only do business with up seven foreign exchange bureaus at a time, according to the latest Central Bank directives issued late on Monday, Al Mal says<\/a>. Banks have a three-month window to comply with new regulations and present copies of their updated contracts to the CBE.<\/p>\n","protected":false},"excerpt":{"rendered":"

Egyptian banks can only do business with up seven foreign exchange bureaus at a time, according to the latest Central Bank directives issued late on Monday, Al Mal says. Banks have a three-month window to comply with new regulations and present copies of their updated contracts to the CBE.<\/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-647446","post","type-post","status-publish","format-standard","hentry","category-banking-finance","tag-banking-finance","tag-enterpriseam","wpautop","entry"],"acf":{"mongo_id":"5914d77b-9608-4190-ab6d-867e154fba3e","order":"0","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[647405],"teaser":"","voice_url":""},"yoast_head":"\nCBE issues new directives to regulate relationship between banks and FX bureaus - 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\/2017\/05\/10\/cbe-issues-new-directives-to-regulate-relationship-between-banks-and-fx-bureaus\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CBE issues new directives to regulate relationship between banks and FX bureaus\" \/>\n<meta property=\"og:description\" content=\"Egyptian banks can only do business with up seven foreign exchange bureaus at a time, according to the latest Central Bank directives issued late on Monday, Al Mal says. Banks have a three-month window to comply with new regulations and present copies of their updated contracts to the CBE.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2017\/05\/10\/cbe-issues-new-directives-to-regulate-relationship-between-banks-and-fx-bureaus\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2017-05-10T03:52:57+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\/2017\/05\/10\/cbe-issues-new-directives-to-regulate-relationship-between-banks-and-fx-bureaus\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/05\/10\/cbe-issues-new-directives-to-regulate-relationship-between-banks-and-fx-bureaus\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"CBE issues new directives to regulate relationship between banks and FX bureaus\",\"datePublished\":\"2017-05-10T03:52:57+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/05\/10\/cbe-issues-new-directives-to-regulate-relationship-between-banks-and-fx-bureaus\/\"},\"wordCount\":61,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"BANKING + FINANCE\",\"EnterpriseAM\"],\"articleSection\":[\"Banking + Finance\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/05\/10\/cbe-issues-new-directives-to-regulate-relationship-between-banks-and-fx-bureaus\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2017\/05\/10\/cbe-issues-new-directives-to-regulate-relationship-between-banks-and-fx-bureaus\/\",\"name\":\"CBE issues new directives to regulate relationship between banks and FX bureaus - 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FX bureaus have reportedly lost much revenue\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":642357,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/08\/13\/cbe-breathes-life-back-into-fx-bureaus\/","url_meta":{"origin":647446,"position":1},"title":"CBE breathes life back into FX bureaus","author":"enterpriseam admin","date":"13 August 2017","format":false,"excerpt":"CBE breathing life back into FX bureaus? The central bank plans to allow up to 24 FX bureaus it had shuttered last year at the height of the FX crunch to come back to life, according to statements by CBE Sub-Governor Tarek Fayed on Saturday. The move comes as FX\u2026","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":612715,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/12\/27\/central-bank-shuts-7-fx-bureaus-plus-news-on-east-qantara-dry-port-easypay-cards-capital-gains-tax-pe-firms\/","url_meta":{"origin":647446,"position":2},"title":"Central bank shuts 7 FX bureaus. PLUS: News on East Qantara Dry Port, EasyPay cards, capital gains tax, PE firms","author":"enterpriseam admin","date":"27 December 2023","format":false,"excerpt":"The news slowdown continues, with not much happening on the home front.NBFS- CBE shuts down seven FX bureaus: The Central Bank of Egypt (CBE) has revoked the licenses of seven foreign exchange bureaus for not meeting the EGP 25-mn minimum capital requirement. The bureaus include Golden Marriott, Roxy International, Al\u2026","rel":"","context":"In "Also on our Radar"","block_context":{"text":"Also on our Radar","link":"https:\/\/enterpriseam.com\/egypt\/category\/also-on-our-radar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1780.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":644985,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/07\/09\/cbe-grants-10-banks-licenses-for-electronic-banking-operations\/","url_meta":{"origin":647446,"position":3},"title":"CBE grants 10 banks licenses for electronic banking operations","author":"enterpriseam admin","date":"9 July 2017","format":false,"excerpt":"The Central Bank has awarded e-banking licenses to 10 banks, Assistant Sub-governor Ayman Hussein told the press this weekend without naming the banks, AMAY reports. The government has been working on a mobile payments strategy as part of its financial inclusion efforts, forming the National Payments Council earlier this year\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":544572,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/10\/banks-have-until-september-to-comply-with-new-capital-requirements\/","url_meta":{"origin":647446,"position":4},"title":"Banks have until September to comply with new capital requirements","author":"enterpriseam admin","date":"10 March 2022","format":false,"excerpt":"Banks now have until 14 September to comply with the new capital requirements in the 2020 Banking Act after the central bank agreed to extend the deadline by a year, according to adecree published in the Official Gazette (pdf).The rules: Under the legislation, banks have to have at least EGP\u2026","rel":"","context":"In "Banking"","block_context":{"text":"Banking","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/banking\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/3\/124.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":598340,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/22\/commercial-banks-could-see-capital-requirements-rise-tenfold-under-banking-act-amendments\/","url_meta":{"origin":647446,"position":5},"title":"Commercial banks could see capital requirements rise tenfold under Banking Act amendments","author":"enterpriseam admin","date":"22 May 2019","format":false,"excerpt":"LEGISLATION WATCH- Capital requirements for commercial banks could rise tenfold to EGP 5 bn under proposed amendments to the Banking Act, Masrawy reported, quoting an unnamed CBE official\u2019s statements to state news agency MENA. 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