2020-06-29

A circular dated June 29, 2020 amending some provisions of the tourism initiative issued under the guarantee of the Ministry of Finance

In a letter dated June 29, 2020, the Chairman of the Board of Directors of a bank in Cairo, Egypt, addresses the recent circular regarding a financing initiative for the tourism sector. The letter announces amendments to the initiative's terms to provide flexibility and ease procedures amid challenging circumstances. These changes include extending the salary payment period, adjusting the repayment duration, and removing a requirement for companies to maintain their workforce and wage levels since December 2019.

Egypt

Central Bank of Egypt

Show thumbnail