The Board of the CBE to approve new
investment guidelines for foreign
exchange reserve management to
clearly define its objectives and the
accountability framework, and permit
the CBE to allocate its reserves only in
reputable international banks and
financial instruments with reference to
minimum acceptable credit ratings. The
allocations in banks headquartered in
Egypt and located abroad will be capped at the current stock of
$5.6 billion 
Objective: Strengthen foreign exchange
reserves management 