About Federation Of Egyptian Banks

Federation of Egyptian Banks is the updated form of Banks Association of Egypt that was founded in 1981 as an association for banks operating in the Arab Republic of Egypt, registered by the Central Bank of Egypt. It has been formed according to Law 163 of Banking and Credit for the year 1957 and Law 32 for 1964 related to private societies and organizations. Its legal status has been changed from Association to be Federation since 3 June 1998 when the Egyptian Minister of Economy issued decree no 178/98 concerning the basic regulations of FEB. It is now following the Central Bank of Egypt after the issuance of the Banks law No. 88/2003. The CBE Board, in its meeting in February, 17th 2004, approved the FEB's new basic regulations.