2022-04-27 | CBE10.5

CBE Regulation Book 10.5 - Initiatives For Defaulting Customers, Initiative For Irregular Customers From Legal Persons

The chapter introduces an initiative aimed at helping non-regular corporate clients with doubtful or bad debt (creditworthiness categories 9 and 10) and debts of less than EGP 10 million as of September 30, 2019, to resume payments and return to economic activity. The initiative offers incentives such as removal from credit registration blacklists, lifting of transaction bans, and dropping of legal cases upon agreement on repayment terms. Banks are instructed to inform eligible clients via registered letters and other means, ensuring reconciliation complies with the law.

Egypt

Central Bank of Egypt

Show thumbnail