How do the licensing requirements apply to cross-border business in your jurisdiction?
As explained in question three, any entity seeking to offer banking and/or non-banking financial services in Egypt must obtain a license from the CBE or the FRA, as applicable. In order to obtain the relevant license, such an entity must establish a local entity in Egypt. It is not currently permissible for banking and non-banking financial services to be offered in Egypt on a cross-border basis.