The Central Bank of Egypt has rolled out new rules that tighten licensing and supervision of credit guarantee companies.
- Companies must be Egyptian joint‑stock firms with at least EGP 50 million paid‑up capital.
- Clear ownership, beneficial‑owner identification and source‑of‑fund verification are now mandatory.
- Founders and key officials must prove integrity, reputation and financial soundness, and submit a detailed feasibility study.
- Annual supervisory fees of EGP 100,000 apply, and firms have one year (two for cyber‑security measures) to comply.
These measures aim to boost governance, risk management and overall stability in the credit guarantee sector.