Regulatory Alerts2022-04-27 | CBE10.2Added · Updated
CBE Regulation Book 10.2 - Irregular Customers Initiative From Legal Persons For The Tourism Sector
The Central Bank of Egypt approved an initiative for irregular legal person customers in the tourism sector with debts of 10 million EGP or more, effective from January 5, 2020, until June 30, 2021. Customers who repay 50% or more of their debt balance in cash or in-kind are removed from credit blacklist systems, have trading bans lifted, have court cases dropped, and have guarantees released. Debt forgiveness amounts are determined based on the bank's credit study of the customer's viability and project revenue potential.
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