Egypt's CBE Joins COMESA's Competition Framework

On 11 May 2026, the Central Bank of Egypt (CBE) signed a Memorandum of Understanding (MoU) with the COMESA Competition and Consumer Commission (CCCC). The MoU aims to enhance cooperation in safeguarding fair competition in the financial market. The CBE is the first central bank of a COMESA Member State and first sector specific regulator to conclude such an MoU with the CCCC. This client brief discusses the implications of the MoU.

The MoU reflects a broader policy objective of enhancing economic integration and promoting a fair and competitive environment across the COMESA Member States. Within the banking and financial services sectors, it is intended to support growth and investment by facilitating cooperation between both authorities in areas including merger review, competition enforcement, and examination of monopolistic practices. A dedicated competition unit has also been set up within CBE to handle this work going forward.