Egypt - Obtain Central Depository License

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Procedure

Apply In-Person:

1. To Obtain Central Depository License in person, the applicant has to approach the Central Bank of Egypt.
2. Address and contact details can be found in the following Contact link
3. Applicant must obtain the application form from the relevant department.
4. Applicant must provide all necessary information in the application form.
5. The applicant should submit all the required documents that are required for this process to be successful and it can be found under the "Required Documents" section on this page.
6. Payment of appropriate fees should be made and that can be found under the "Fees" section of this page.
7. The applicant has to attach the payment receipt as the proof of payment.
8. Submit the completed forms along with the supporting documents at the respective office for verification and processing.
9. This application will be processed and information will be verified by the CBE.
10. After the verification of the documents is done the council will issue the license within 3 months.
11. The applicant is intimated to collect the license once it is ready by receiving SMS or E- mail.

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Required Documents

• Completed application form
• Memorandum and articles of association of the applicant whose main objective shall be to operate a central depository, the certificate of incorporation and applicants proposed rules
• The name(s), certificate(s) of incorporation, memorandum and articles of association for all its nominee companies
• A business model including the details of the depository and settlement system proposed to be adopted by the applicant
• A certified copy of the agreement between the systems provider and the applicant (where applicable)
• Rules made
• A schedule of proposed fees and penalties.

Office Locations & Contacts

Central Bank of Egypt
Map. Address: 54 El Gomhoureya St. 11511, 
Cairo Governorate, Egypt.
E-mail: [email protected];
Contact number of Central Bank of Egypt: 02 27702770.
Telephone: 16777.
Contact link

Eligibility

• Applicant must provide all the documents.

Fees

• Approval and annual fee is EGP 200,000

Validity

Explain the time until which the certificate/document is valid.
e.g. Birth Certificate Valid Forever

Documents to Use

Please attach documents that can be used by people. e.g. links

Sample Documents

Please attach sample completed documents that would help other people.

Processing Time

• The council will issue the license within 3 months.

Related Videos

Videos explaining the procedure or to fill the applications.
Attach videos using the following tag <&video type='website'>video ID|width|height<&/video&> from external websites.
Please remove the '&' inside the tags during implementation.
Website = allocine, blip, dailymotion, facebook, gametrailers, googlevideo, html5, metacafe, myspace, revver,
sevenload, viddler, vimeo, youku, youtube
width = 560, height = 340, Video ID = Can be obtained from the URL of webpage where the video is displayed.
e.gIn the following url 'http://www.youtube.com/watch?v=Y0US7oR_t3M' Video ID is 'Y0US7oR_t3M'.

Instructions

• An application for approval to operate a central depository should be submitted to the Capital Markets Authority. The application should be submitted together with the required documents.
• The Authority may require an applicant to provide such further information as it may consider necessary in relation to the application, in such form or verified in such manner as the Authority may direct.
• The Authority in considering an application determines if the applicant is fit and proper as per the regulations.

Required Information

• Name of company
• Registered office
• Date of incorporation
• Address
• E-mail
• Location, address and telephone number of principal office
• Location, address and telephone number of branch offices and Nominee companies
• Details of capital structure
• Shareholders
• Directors
• Particulars of other directorship(s) of the directors
• Particulars of shares held by directors in other companies
• Whether the applicant or any of its directors or members of senior management at any time been placed under receivership, declared bankrupt, or compounded with or made an assignment for the benefit of his creditors, in Kenya or elsewhere.
• Whether any court ever found that the applicant, or a person associated with the applicant was involved in a violation of any law.
• Whether the applicant and/or a person associated with the applicant now the subject of any proceeding that could result in a `yes' answer to the above question.
• Whether the applicant, or any shareholder or director of the applicant, a member or director of a member company of any securities exchange
• Particulars of two business referees of the applicant
• Attach a profile of the chief executive and key employees in the applicant company setting out the educational and professional qualifications and work experience.
• List the office facilities of the applicant
• Any other additional information considered relevant to the application

Need for the Document

• No person shall establish, maintain or hold himself out as maintaining a central depository except with the prior written approval of the authority.

Information which might help

An applicant who proposes to operate as a central depository is supposed to make rules which rules should be included in the application to govern all aspects of its operations including:

• Appointment, functions, suspension and revocation of appointment of central depository agents.
• appointment of a manager for a suspended central depository agent
• Notification to the issuers and the public of all eligible securities prescribed to be immobilized or dematerialised in the central depository.
• Deposit of certificates.
• information to be contained in the record of depositors;
• Frequency of issue of the statement of account by the central depository to the depositors.
• Charging of securities.
• circumstances when a book entry security in a securities account is in suspense in circumstances other than provided under the Act; and
• Circumstances for investigation or restriction of dealings in any book entry transfers partially or otherwise.

Other uses of the Document/Certificate

Please explain what are other uses of obtaining this document/certificate.
e.g. Birth Certificate can be used as proof of identity.

External Links

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Others

More information which might help people.