2018-09-09

A circular dated September 5, 2018 regarding obtaining the Ministry of Finance’s approval before lending to public business sector companies

In a letter dated September 5, 2018, the Chairman of the Board of Directors of a bank in Cairo, Egypt, is informed of the government's intention to assess the scale of lending granted by the banking sector to public business sector companies. The letter emphasizes the requirement for the bank to obtain prior written approval from the Ministry of Finance before extending any credit facilities to such companies. It requests the Chairman's attention to ensure compliance with the mentioned decision.

Egypt

Central Bank of Egypt

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