2018-09-09

A circular dated September 6, 2018 regarding financing controls for installment sales services companies

The Central Bank's Board of Directors has issued guidelines for banks to follow when dealing with installment sales companies, due to the lack of regulatory oversight over these companies. The guidelines include restrictions on financing in local currency only, maintaining specific loan-to-value ratios, and obtaining audited financial reports from the companies. Banks are also required to include clauses in their contracts with these companies to ensure proper credit analysis and reporting to the Egyptian Credit Bureau.

Egypt

Central Bank of Egypt

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