2016-03-08

A circular dated December 7, 2015 regarding the initiative to deal with retail loans for workers in the tourism sector

In light of the challenging economic circumstances in Egypt and their impact on the tourism sector, the Central Bank of Egypt issued an initiative to support tourism sector employees with consumer and mortgage loans by allowing banks to postpone their payments for 6 months without late interest. This decision does not classify these loans as non-performing, and banks must update customer data and verify their current employment within the tourism industry.

Egypt

Central Bank of Egypt

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