2020-03-19

A circular dated March 19, 2020 regarding amending the special interest rate for a number of Central Bank initiatives

On March 19, 2020, the Central Bank of Egypt issued a decision to reduce the interest rate on several initiatives, including the industrial private sector initiative, the mortgage finance initiative for middle-income individuals, and the initiative to support the renewal of hotels, floating hotels, and tourist transport fleets. The new interest rate was set at 8% (calculated on a diminishing basis) instead of 10%. Banks will be compensated for the difference in interest rates, and the remaining terms of the initiatives remain unchanged.

Egypt

Central Bank of Egypt

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