Cairo - Mubasher: Standard Chartered Bank has received the in-principle approval from the Central Bank of Egypt (CBE) to establish its first branch in Egypt, instead of its current representative office.

As per the CBE’s requirements, the bank is currently completing procedures to obtain the final approval to launch its full banking operations in Egypt, according to a press release on Thursday.

This step is in line with the CBE’s strategy to strengthen the banking sector’s financial solvency, ensure effective governance, adopt precautionary measures that led to maintaining financial support and high capital requirements.

Owned by the UK-based Standard Chartered PLC, the bank offers services in more than 85 markets around the world, including nine countries in the Middle East

Source: Mubasher

All Rights Reserved - Mubasher Info © 2005 - 2022 Provided by SyndiGate Media Inc. (

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.