THE IMPACT OF BANKING SECTOR REFORM ON SUSTAINABLE DEVELOPMENT IN EGYPT (AN APPLIED STUDY)

Abstract

Banking reform has started in September 2004, achieving during two stages. It is based on promoting transparency, the use of adequate accounting and supervision standards, and strengthening banks. * First Stage The first stage started at 2004 till the end of 2008 including the following reforms: • Privatization of the Egyptian Banking Sector • Merger and Acquisition of the Egyptian Banking Sector • Restructuring of The State – Owned Banks in Egypt . • Solving of Nonperforming Loans in The Egyptian banking Sector • Upgrading Central Bank of Egypt Banking Supervision. * Second Stage The second stage started at 2009 till 2011 including the following reforms: • Financial and Administrative Restructuring of Specialized StateOwned- Banks . • Achievement of Basel 2 Agreement . • Governance .