Regulatory Compliance

SCB is subject to the supervision of Central Bank of Egypt (CBE) and ensure proper implementation of instructions issued by CBE through our internal controls, policies and procedures that allow a robust compliance across the bank. SCB also adheres to Foreign American Tax Compliance Act (FATCA) and other laws and regulations issued by the supervisory authorities.

GIIN
3P9378.99999.SL.818

LEI Code
549300L2TJKMRAVJCZ02

• W-8-Ben-E
• Compliance Statement
• Ownership Structure
• Board of Directors

AML / CFT

SCB adheres to the Anti Money Laundering Law No. 80 for the year 2002, and its subsequent amendments no. 78 in 2003, no. 181 in 2008, no. 36 in 2014, no. 94 in 2015 and no. 17 in 2020, banks customer’s due diligence procedures issued in February 2020 by Egyptian Money Laundering Combating Unit (EMLCU), FATF recommendations, and all principles of Wolfsberg Group for AML/CFT.

• SCB AML Questionnaire
• Wolfsberg AML Questionnaire
• USA PATRIOT ACT

Corporate Governance

Corporate governance is a set of rules and best practices that governs the relationship between the board of directors, management, and shareholders.

SCB applies standards of disclosures and transparency within the framework of corporate governance, which are appropriate to the bank’s business and activities in accordance with the developments surrounding it and in accordance with legislative and regulatory requirements within the framework of corporate governance.

SCB adopts a policy of transparency and disclosure on the information that reflect all the requirements of disclosure (financial, non-financial and regulatory disclosures) that include all the important data in the bank and its operations and financial performance in line with the shareholders’ structure.

SCB adheres to all the rules of governance issued by Basel Committee that monitors the banking sector and related laws in this respect.

Customers' rights protection

SCB primarily aims to accomplish its customers’ satisfaction and protection through following the regulations for customer protection issued on February 13, 2019 and accordingly an independent Customer Protection Unit was established by Compliance department, through which customer complaints are received, investigated, followed up, resolved and reported to the SCB’s Board of Directors, Audit Committee, and CBE.

The following is an overview of the concept and principles of Customers’ Rights Protection and the mechanism for dealing with customer complaints.

The concept of protecting customer' rights

The existence of a clear regulatory framework that defines the relationship between the services providers and the users, in order to ensure that customers obtain their rights in terms of fairness and transparency and to maintain the confidentiality of data, while ensuring the existence of a mechanism for dealing with complaints. In addition to raising banking customers' awareness, enabling them to take sound decisions.

Principles of protecting customers’ rights:

• Justice and equality.
• Disclosure and transparency.
• How to deal with customer complaints.
• Spreading banking culture and awareness.
• Data protection and account confidentiality.