2014-12-30

Extending the work period of the tourism initiative until June 2015

In a letter dated December 25, 2014, the Chairman of the Board of Directors of a bank in Cairo, Egypt, announces an extension of a tourism sector support initiative for six months, ending in June 2015. The letter also extends the application of the fourth item of the initiative, which pertains to reducing the return rate without a minimum commitment and excluding clients from settlements if the pricing falls below the lending and discount rate. These extensions are intended to support the Egyptian economy and stimulate various economic sectors, including tourism, which is considered a vital pillar of the country's economy.

Egypt

Central Bank of Egypt

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