As the Egyptian economy grows and financial institutions increase their supply of financial services, the risk of unanticipated adverse shocks and financial distress may rise. The GIZ, in collaboration with the European Union, designed a Programme focusing on financial sector stability via improved supervision of financial services and the advancement of financial inclusion of individuals including women and youth and of MSMEs, through the formulation of evidence-based policies and monitoring.
- ICON supports the Central Bank of Egypt with the enhancement of its banking supervision function to be in line with international best practices and provides adequate tools to address the risks facing the Egyptian banking sector.
- ICON has proposed components to enrich Banking Supervision under Basel III framework and to enhancing the Macro-Prudential Supervision function. Among others, we provide training on banking supervisor's ICAAP requirements (governance, methodology, stress tests, etc.)
- ICON has presented CBE proposals for future improvements or evolutions regarding banks application of corporate governance international best practices while holding collaborative sessions with the Macro-Prudential department (MPRU) to enhance its mandate, governance structure and decision-making processes.
With the afore-mentioned measures in place, the Egyptian’ macroeconomic stability will continue to thrive endorsing a better environment for particulars and SME’s that will continue to foster job creation and well-being.