2016-03-07

A circular dated January 11, 2016 regarding the ratio of the value of the installments due to the individual’s monthly income regarding the loan portfolio for consumer purposes.

The letter, dated January 11, 2016, is addressed to the Chairman of the Board of Directors of a bank, informing him of the recent decision made by the Egyptian Central Bank's Board of Directors regarding consumer loans. The decision sets a limit on the total monthly loan installments for consumer loans and personal housing loans as a percentage of the borrower's monthly income, in an effort to mitigate risks and maintain loan portfolio quality. The bank is requested to take the necessary steps to comply with the decision.

Egypt

Central Bank of Egypt

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