2023-06-14

A circular dated June 14, 2023 regarding extending the temporary amendment regarding the treatment of non-performing loans to small and medium-sized companies in accordance with the instructions of International Financial Reporting Standard No. 9.

In a letter dated June 14, 2023, the writer informs the addressee, the Chairman of the Board of Directors of a bank, that the Central Bank of Egypt has approved an extension of the temporary amendment regarding the treatment of non-performing loans for small and medium-sized enterprises until the end of June 2024. This extension aims to support this vital sector in continuing its operations and production amidst ongoing challenges and economic crises. The letter also outlines specific conditions for customer inclusion and upgrading in relation to loan repayment and adherence to contractual obligations.

Egypt

Central Bank of Egypt

Show thumbnail