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New coordination council between CBE, government

President AbdelFattah El-Sisi issued resolution 584 to form the council chaired by the prime minister, bank governance and some other ministers.
© Egypt Business Directory

The Council will coordinate efforts between the Central Bank of Egypt and the Egyptian government in matters of financial policies.

The council will be headed by the Prime Minister and will comprise the Ministers of planning, deputy finance minister, the Bank's governor and sub governor, head offederation of Egyptian banks, among other financial experts.

The duties of the council will include setting the system for coordination between the monetary policy of the bank and the government, and send an annual report to the president. The council will convene at least once every 3 months and as much as needed.

The attenance of two thirds of the members is needed for the validity of the meetings of the council, provided that both the CBE and the government are represented in the attendees.