Egypt aims for Basel II adoption, ECB to assist

The Central Bank of Egypt took a step towards compliance with Basel II after agreeing to European Central Bank (ECB) support to strengthen its supervisory framework.

Jean-Claude Trichet and Farouk El Okdah, the heads of the ECB and the Egyptian central bank, met in Cairo on Wednesday to sign a memorandum of understanding that will see the eurozone's central bank provide technical assistance to Egypt to strengthen banking supervision towards basic Basel II compliance.

"The aim of the programme

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