Regulatory Alerts2024-01-18 | CBE10.1Added · Updated
CBE Regulation Book 10.1 - Initiatives Of Micro, Small, And Medium Sized Companies And Establishments
The Central Bank of Egypt establishes a unified definition for micro, small, and medium-sized enterprises (MSMEs) based on paid-up capital, workforce size, and annual sales. It mandates that banks achieve a minimum lending portfolio ratio of 25% to MSMEs by December 31, 2024, with at least 10% directed specifically to small enterprises. The regulation introduces preferential financing initiatives, including a 5% interest rate for small businesses and specific sectors, and allocates 5 billion EGP for medium-sized industrial and agricultural companies at a 7% interest rate.