{"id":671258,"date":"2025-09-03T00:00:00","date_gmt":"2025-09-03T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2025\/09\/03\/cbe-reveals-new-regulatory-framework-for-foreign-exchange-bureaus-to-combat-money-laundering-other-illicit-activity\/"},"modified":"2025-09-03T00:00:00","modified_gmt":"2025-09-03T00:00:00","slug":"cbe-reveals-new-regulatory-framework-for-foreign-exchange-bureaus-to-combat-money-laundering-other-illicit-activity","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2025\/09\/03\/cbe-reveals-new-regulatory-framework-for-foreign-exchange-bureaus-to-combat-money-laundering-other-illicit-activity\/","title":{"rendered":"CBE reveals new regulatory framework for foreign exchange bureaus to combat money laundering, other illicit activity"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The Central Ban<\/strong><strong>k of Egypt (CBE) approved new regulatory guidelines for <\/strong><strong>foreign exchange bureaus<\/strong>, aimed at combating money laundering, terrorist financing, and proliferation financing, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/9\/167.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a>. The decision scraps the 2008 regulations and gives FX bureaus six months to comply with the new rules. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But why? <\/strong>The new regulations aim to encourage compliance with amendments made to several legislative and regulatory frameworks, including <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9389baa6-d4f6-43ff-92ec-e51aec9d9d8d\/anti-money-laundering%253cmark%253e-act%253c%2Fmark%253e-amendments-get-committee-level-approval\" style=\"\" rel=\"noopener\">changes to the<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9389baa6-d4f6-43ff-92ec-e51aec9d9d8d\/anti-money-laundering%253cmark%253e-act%253c%2Fmark%253e-amendments-get-committee-level-approval\" style=\"\" rel=\"noopener\">Anti-Money Laundering Law<\/a> and its executive regulations. \u201cThis framework comes as part of the central bank\u2019s efforts to keep pace with international standards in combating money laundering, terrorist financing, and proliferation financing, while also consolidating and reinforcing existing best practices in this field,\u201d the statement reads. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The new rules<\/strong><strong> outline requirements for risk-based governance frameworks<\/strong> at exchange bureaus, with board oversight, internal audit mechanisms, and adequate resources to ensure compliance and effective risk management. This also includes appointing a dedicated compliance officer and their deputy. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>New risk <\/strong><strong>assessment frameworks are also in the cards:<\/strong> The framework mandates regular risk assessment for money laundering, terrorist financing, and proliferation financing, along with the development of policies, procedures, and internal controls to mitigate these risks. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Bureaus need to be properly assessing their clients: <\/strong>The new rules require detailed customer due diligence, continuously monitor transactions, and report suspicious activities both internally and to the relevant authorities. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>How to identify suspicious activity?<\/strong> The framework provides guidance to help identify transactions that may involve illicit activity. It also entails strict recordkeeping and documentation requirements, including minimum retention standards. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Staff training is also on the agenda: <\/strong>Staff will need to receive training, at least once a year, covering anti-money laundering, counter-terrorist financing, and combating proliferation financing. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bureaus have six months to comply with the new framework<\/p>\n","protected":false},"author":1,"featured_media":671259,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","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":[9120],"tags":[271,72,2234],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-671258","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-foreign-exchange","tag-central-bank-of-egypt","tag-enterpriseam","tag-foreign-exchange","wpautop","entry"],"acf":{"mongo_id":"2150c00a-e03f-483e-a0e6-3420187b3bd5","order":"6","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2025\/9\/182.jpg","photo_position":"above","homepage_title":"","full_issue_title":"CBE reveals new regulatory framework for foreign exchange bureaus to combat money laundering, other illicit activity","related_issue":[671248],"teaser":"Bureaus have six months to comply with the new framework","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/9\/.7c61821b-85ad-4485-ac0f-3df3ada4ad6d.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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Banks have a three-month window to comply with new regulations and present copies of their updated contracts to the CBE.","rel":"","context":"In &quot;Banking + Finance&quot;","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":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":671258,"position":1},"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 &quot;Also on our Radar&quot;","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":642357,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/08\/13\/cbe-breathes-life-back-into-fx-bureaus\/","url_meta":{"origin":671258,"position":2},"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 &quot;Speed Round&quot;","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":595868,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/08\/08\/cbe-issues-regulations-for-foreign-currency-exports\/","url_meta":{"origin":671258,"position":3},"title":"CBE issues regulations for foreign currency exports","author":"enterpriseam admin","date":"8 August 2019","format":false,"excerpt":"REGULATION WATCH- CBE issues regulations for foreign currency exports: New banking regulations will require banks wanting to export and import foreign currency to apply for a 12-month license in January every year, according to a CBE statement (pdf) released yesterday. The CBE said banks have six months from the date\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2018\/11\/1115.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":586885,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/05\/18\/fx-bureaus-face-strict-capital-requirements-tighter-controls-as-cbe-moves-to-curb-black-market\/","url_meta":{"origin":671258,"position":4},"title":"FX bureaus face strict capital requirements, tighter controls as CBE moves to curb black market","author":"enterpriseam admin","date":"18 May 2023","format":false,"excerpt":"Regs to strike \u201csignificant blow\u201d to the parallel market","rel":"","context":"In &quot;REGULATION WATCH&quot;","block_context":{"text":"REGULATION WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/regulation-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/5\/914.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":616923,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/03\/13\/fx-inflows-outflows-inch-closer-to-normalcy\/","url_meta":{"origin":671258,"position":5},"title":"FX inflows, outflows inch closer to normalcy","author":"enterpriseam admin","date":"13 March 2024","format":false,"excerpt":"Float spurs influx of FX sales at the country\u2019s biggest FX bureaus","rel":"","context":"In &quot;FX WATCH&quot;","block_context":{"text":"FX WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/fx-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1100.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/671258","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=671258"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/671258\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/671248"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/671259"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=671258"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=671258"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=671258"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=671258"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=671258"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}