2021-02-22

Circular dated February 22, 2021 regarding amending some provisions of the Micro, Small and Medium Enterprises Initiative

The Central Bank of Egypt has issued a decree amending the requirements for banks' lending portfolios to small and medium-sized enterprises (SMEs). The decree increases the required percentage of loans to SMEs from 20% to 25% of total credit facilities, with a focus on micro, small, and medium-sized companies. It also allows for the exclusion of certain types of loans from this calculation and provides guidelines for banks to develop alternative methods for assessing creditworthiness, including the use of digital assessment models.

Egypt

Central Bank of Egypt

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