2024-03-04 | CBE4.11

CBE Regulation Book 4.11 - The Regulatory Framework For Writing Off Irregular Debts 11

The Central Bank is concerned about the quality of assets in the banking sector and has decided to unify practices regarding the management and write-off of non-performing loans in line with international best practices. Banks are required to include specific rules and procedures for writing off non-performing loans in their internal policies, emphasizing the instructions of IFRS 9 and the fundamentals of creditworthiness and provisioning. The write-off period for non-performing facilities is a maximum of 3 years, with efforts made to recover as much of the debt as possible during this time.

Egypt

Central Bank of Egypt

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