The UK-based Standard Chartered Bank was licensed by the Central Bank of Egypt (CBE) for its branch headquarters in Egypt.
Standard Chartered Bank’s inaugural Egyptian branch was originally announced to be launched in September 2022 after it received the green light from the Central Bank of Egypt (CBE) in January 2022 and was registered on the list of licensed banks a few months later in May.
Standard Chartered Bank is the first foreign bank to receive a license to operate in Egypt after the issuance of the new Banking Law in September 2020.
The British multinational bank was awarded its full banking license from the CBE in November 2022, which qualified it to provide services to sovereign and government-related bodies, corporate entities, financial institutions, and multinationals operating in Egypt.
