Regulatory Alerts2018-09-09
Circular Regarding Obtaining Ministry of Finance Approval Before Lending to Public Business Sector Companies
This circular, issued by Jamal Negm on September 5, 2018, mandates that banks must obtain prior written approval from the Ministry of Finance before extending any credit facilities to public business sector companies. This directive aligns with the government's objective to monitor lending to these entities by the banking sector. Banks are instructed to take the necessary actions to implement this decision.
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