2017-01-02

Circular dated December 29, 2016 amending the second clause of the circular issued on January 11, 2016 regarding the Small and Medium Enterprises Initiative.

The letters outline initiatives by the Egyptian Central Bank to encourage banks to finance small and medium-sized businesses, with a focus on important economic sectors. The initiatives include offering low-interest credit facilities, exempting banks from mandatory reserve requirements, and mandating that banks allocate a portion of their credit portfolios to these businesses. The letters also emphasize the importance of training and cooperation with relevant ministries and entities to support the development of this sector. Banks are required to submit a timeline for implementing these decisions by the end of February.

Egypt

Central Bank of Egypt

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