Law & Regulation
Central Bank and Banking Sector Law
Egypt's central banking and banking-sector law, published in the Official Gazette 15 September 2020 and effective 16 September 2020. Fully abolished the prior Central Bank Law No. 88 of 2003. Covers licensing, monetary policy, supervision, governance, and — for the first time in Egyptian law — digital banks, e-money and cryptocurrency. Guarantees citizens' right to retain foreign currency they receive, own or possess, and is the operative basis for foreign-exchange regulation; Egypt has no separate standalone FX statute.
Legal Significance
What This Instrument Does
Establishes the Central Bank of Egypt's mandate, bank licensing and supervision framework, monetary-policy powers, and foreign-exchange-related citizen protections.
Why It Matters
The sole current legal basis for banking regulation and foreign-exchange administration in Egypt; supersedes the earlier Law 88/2003 in full.
Legal Framework Position
- Banking & FinancePrimary / Framework Instrument
- Foreign Exchange / Capital ControlsSupporting / Related Instrument
Instrument Overview
- Official Citation
- Law No. 194 of 2020
- Instrument Type
- Law / Act
- Enactment Date
- 15 September 2020
- Effective Date
- 16 September 2020
- Last Verified
- 30 September 2026