2020-03-22

A circular dated March 22, 2020 regarding the clarifications regarding postponing customers’ credit dues for a period of 6 months

In a letter dated March 22, 2020, the Governor of the Central Bank of Egypt, Tarek Amer, addresses the Chairman of the Board of Directors of a bank regarding precautionary measures to address the impacts of the COVID-19 pandemic. The letter refers to a previous circular and addendum instructing banks to postpone credit facilities' maturities for clients by six months without imposing additional fees or penalties. The letter also emphasizes the need to communicate any postponements and updated repayment schedules to clients through available means of communication.

Egypt

Central Bank of Egypt

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