The Central Bank of Egypt (CBE) has issued new regulations for credit information and rating companies. The companies must also maintain a record of shareholders holding more than 5% of the capital or voting rights and update it regularly. The companies must also pay an annual regulatory fee of EGP 100,000 to the CBE in January each year. Services and fees: The companies must provide accurate, reliable, and timely credit information and rating services to their clients, in accordance with the CBE’s standards and guidelines. Supervision and inspection: The CBE will conduct periodic on-site inspections of the companies to assess their compliance with the law and the regulations.

Source: Daily News Egypt November 26, 2023 08:18 UTC