2020-02-18

A circular dated February 16, 2020 regarding amending the ratio of real estate financing to the total loan portfolio

The letter, dated February 16, 2020, is addressed to the Chairman of the Board of Directors of a bank, informing them of a decision by the Central Bank's Board of Directors to increase the percentage of real estate financing to 10% of the bank's total loan portfolio, excluding the Egyptian Arab Real Estate Bank and the Real Estate Development Bank. This decision is in line with a new initiative to allocate 50 billion Egyptian pounds for financing food targeting middle-income workers. The letter also emphasizes the continued validity of the remaining provisions of the aforementioned circular.

Egypt

Central Bank of Egypt

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