2016-05-16

- A circular dated May 15, 2016 regarding extending the period of work on the initiative to deal with retail loans for workers in the tourism sector until the end of December 2016.

In a letter dated May 15, 2016, the Central Bank of Egypt extended its initiative to support workers in the tourism sector by allowing banks to defer loan payments for six months without imposing penalty interest for those customers who were regular as of September 30, 2015. This extension was approved by the Board of Directors of the Central Bank of Egypt during its meeting on May 12, 2016, and was intended to provide relief to those in the tourism industry who continued to be impacted by challenges in the sector.

Egypt

Central Bank of Egypt

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