The Central Bank of Egypt (CBE) has officially launched a new framework to help credit risk guarantee companies get up and running. If you are looking to start one of these businesses, here is how the process works:
- Submit your application to the CBE for preliminary approval; the board will decide within 90 days.
- Once approved, you have one year to finish incorporation procedures.
- Pay inspection fees—100,000 EGP for your head office and 50,000 EGP per branch.
- Apply for final licensing, which the board reviews in another 90-day window.
After you are officially registered and notified, you must start operations within one year to keep your license active.