Procedures for issuing Egyptian certificates of deposit against transferring foreign securities:
The owner of foreign securities who wishes to transfer the balance of foreign securities into Egyptian certificates of deposit must submit an application to the foreign agent or to the Egyptian custodian, as the case may be, indicating his desire to transfer, the quantity to be transferred, and all data related to the transfer process according to the form prepared for that (certificate issuance form). Egyptian deposit).
In the event that the owner of foreign securities is outside Egypt, the foreign agent sends a notification to the Central Depository and Registry Company explaining the instructions of the owner of foreign securities regarding the transfer. Transfer customer The Central Depository and Registry Company deducts the number of foreign securities to be transferred from the balance of the foreign securities owner with the foreign agent or with the Egyptian custodian and add it to the depository bank balance with the competent custodian and notify him of that.
The Depository Bank issues Egyptian certificates of deposit against foreign securities whose balance is transferred (according to the established conversion factor) and notifies the Central Depository and Registry Company.
The Central Depository and Registry Company sends SWIFT to the foreign agent and notifies the Egyptian custodian of adding the Egyptian deposit certificates in the account of the owner wishing to transfer with any of them, and the owner has the right to request their transfer to any custodian according to the procedures established in this regard.
The Egyptian custodian or the foreign agent and the Central Depository and Registry Company are obligated to hand over to the owner - according to his request - an account statement of the Egyptian certificates of deposit owned by him.
Procedures for canceling Egyptian certificates of deposit in return for transferring foreign securities: The owner of the Egyptian depository certificates who wishes to cancel the Egyptian depository certificates and transfer his balance to the corresponding foreign securities by deduction from the balance of the securities deposited in the name of the depository bank shall submit an application to the Egyptian custodian or the foreign agent explaining all the data related to the transfer process according to the form prepared for that ( Egyptian certificates of deposit cancellation form.
In the event that the owner of the Egyptian certificates of deposit is outside Egypt, the foreign agent of the owner sends a notification to the Central Depository and Registry Company explaining the instructions of the owner of the Egyptian certificates of deposit to cancel them. The Central Bank and the Depository Bank shall instruct the customer to cancel them. The Central Depository and Registry Company deducts a number of foreign securities corresponding to the number of canceled Egyptian deposit certificates from the balance of the depository bank with the foreign agent or the Egyptian custodian, as the case may be, and add them to the balance of the owner wishing to cancel with the foreign agent or the Egyptian custodian and notify the depository bank of that.
The Depository Bank shall cancel the Egyptian certificates of deposit and transfer them to the corresponding foreign securities (according to the established conversion factor) and notify the Central Depository and Registry Company.
The Central Depository and Registry Company sends SWIFT to the foreign agent and notifies the Egyptian custodian of canceling the Egyptian deposit certificates and deducting the number of foreign securities corresponding to them from the depository bank balance and adding them to the balance of the owner wishing to cancel with any of them, and the owner has the right to request the transfer of his foreign securities to any custodian Save in accordance with the prescribed procedures in this regard.
The Egyptian custodian or the foreign agent and the Central Depository and Registry Company are obligated to deliver to the owner - as requested - an account statement of his foreign securities.