The Central Bank Law defines the objectives and powers of the Central Bank that contribute to advancing the Egyptian banking sector. Article 6 states that the Central Bank shall take measures to achieve its goals and fulfill its duties, including issuing banknotes, managing liquidity in the national economy, influencing bank credit, supervising banking units, managing the state’s reserves of gold and foreign currency, regulating the foreign exchange market, supervising the national payment system, and monitoring external debt. According to Article 7, in case of financial turmoil or other emergency circumstances requiring urgent market needs, the Central Bank may take necessary measures including providing exceptional financing to banks under conditions set by its Board of Directors. Article 8 allows the Central Bank to extend credit to banks governed by this law and to foreign and international institutions under approved terms.

Article 9 permits the Central Bank to guarantee financing and credit facilities obtained by public legal persons or banks from banks, financial institutions, and foreign or international bodies, according to regulations specified by the Central Bank’s executive regulations.