Regulatory Alerts2024-03-04 | CBE4.12Added · Updated
CBE Regulation Book 4.12 - Controls Using Alternative Data For Credit Evaluation 12
The Central Bank of Egypt approves the use of behavioral scoring models for credit evaluation based on alternative data, restricting eligibility to micro and small enterprises with annual sales of 20 million Egyptian pounds or less. Banks must conduct financing exclusively in local currency, establish board-approved policies, and ensure independent validation of their scoring models. Institutions are required to notify the regulator upon implementation and submit quarterly reports detailing portfolio performance and non-performing loan ratios.
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