The Federation of Egyptian Banks (FEB) was established as a non-profit independent entity. It includes all Egyptian banks as well as branches of foreign banks operating in Egypt subject to the provisions of Law 88/2003 issued by the CBE. The FEB’s headquarters located in Greater Cairo and has the right to establish branches/offices in all the governorates. The board of Directors has to include the specialties of these branches/offices in their establishment decrees, which should be within the framework of the FEB objectives.

FEB Works on Achieving the Following:

-       Enhance and update the banking profession in Egypt and support the banking culture

-       Enhance and stabilize the banking sector’s standards following its unified rules and procedures; in addition to setting the code of ethics

-       Discuss common issues to maintain healthy competitive environment for banks

-       Support the relations between the banks in Egypt and entities abroad on scientific, cultural and social levels

-       Maintain cooperation between FEB and the monetary authority to ensure coordination between both policies aiming at improving the national economy

-       Give recommendations on draft laws and suggest amendments to current legislations related to the banking sector

-       Represent the banking profession and support it

Tools to fulfill these objectives:

-       Establish a permanent banking research center that includes specialized units/committees to study the banking sector’s technical, administrative and financial issues  

-       Issue periodical newsletter/magazine to spread the local and international banking culture and expertise

-       Establish and support communications between FEB and other banking and financial entities on the local and international sides aiming at exchanging expertise, information and ideas. This includes holding and participating in sessions and conferences

-       Translate foreign banking terms and utilize them locally

-       Organize meetings between banks to discuss means of controlling the market and setting regulations

-       Enhance cooperation between banks in Egypt and abroad, especially in the Arab world to fulfill the FEB objectives  

-       Study different issues related to credit, saving, exchange rate, and foreign trade and their impact on the banking sector in Egypt. Submit recommendations to the CBE and monetary authorities in these regards

-       Set the tools and procedures for training employees at the banking sector

-       Solve any disagreements between the FEB members

In general, the FEB reserve the right to use all means and tools to fulfill its objectives properly.