2022-11-21

A circular dated November 21, 2022 regarding the Cabinet’s decision related to the Central Bank’s low-yield initiatives

The letter, dated November 21, 2022, addresses the initiatives of the Egyptian Central Bank to compensate banks for the difference in interest rates on existing initiatives, as per the attached decision. It instructs adherence to the decision from its effective date and highlights the applicable interest rates and compensation mechanism. The letter also emphasizes the need for the concerned ministries and entities to ensure sufficient funds in their accounts with the Central Bank to cover the cost of the initiatives.

Egypt

Central Bank of Egypt

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