Apply For Renewal of Microfinance Bank License in Egypt
A microfinance institution requesting renewal of its business license must submit the following
- Send an Application letter to renewal
- Application for renewal of business license as well as any changes to the details of the license that are currently in effect;
- Original business license of the microfinance institution
- proof of payment for renewal fee or penalty.
- Resolution of any issues that are pending (if appropriate)
- Show the Original Certificate of License from the MFI
Required Documents For Renewal of Microfinance Bank License
- Documentation of registration of the trade name by Ministry of Trade and industries or Regional Trade Bureau.
- Minutes of the first meeting of organizers as well as the attendance sheet.
- Prospectus submission, which is a written statement that explains and predicts the future course or nature of the business and the expected risks to be given to potential investors.
- Written Renewal request to open a subscription account that is blocked in which your name as the bank(s)/branch (es).
- The application form must be completed according to Parts II and I of the Directives for organizers and project managers.
- Completely filled out questionnaire on propriety in accordance with the attachment III of these directives, for project coordinators and organizers.
- The evidence of payment for the investigation fee.
Office Locations and Contacts
- Central Bank of Egypt
Central Bank of Egypt
54 El-Gomhoreya Street
11511, Cairo Egypt
Emails: General inquiries / Complaints
Fax:+20 2 25976081
What are all the Eligibility
- The company must operate as an Micro finance Bank and registered under the Companies Act as a limited liability corporation whose principal purpose is to manage the business of a foreign exchange broker.
- A Forex bureau can be set up by any qualified corporate body or company that is approved from the National bank of Egypt to accept deposits and to pay deposit.
- An Forex Bureau applicant must be an Egyptian National with a valid passport and be employed in the field of Microfinance.
- A microfinance company applying to renew its business license must pay a the renewal fee of LE 1000.
- Fee for renewing licenses of LE 500
Valid for 1 year.
Processing can take up to 7 working days.
- It is illegal for anyone to conduct any Microfinace Bank business unless he/she has an Microfinance Bank business License.
- Any person who infringe or fails to comply with the provisions of this section will be guilty of a crime and will be punished in accordance with the law.
- Must be organised in the form of share companies.
- Minimum No. of founders has to be five
- The shareholders must be Egyptian citizens or entities that are owned 100% by Egyptian nationals.
- The full name of the applicant
- Address of the Applicant
- Where is the Foreign Exchange Bureau
- License Number
- A tax clearance document.
- Documentation of tax payments made in the form of a provisional tax
- Complete names, addresses and the names of employees of the bureau.
The document is needed
A microfinance company must renewal its license to operate each year. A microfinance institution that is applying to renew its business license must pay a the renewal fee of LE 2 000.