Regulatory Alerts2018-12-17
Added · Updated
Circular dated December 17, 2018 regarding extending the work period for the tourism sector support initiative and the retail loans initiative for workers in the tourism sector until the end of 2019
The Central Bank of Egypt extends the Tourism Sector Support Initiative and the Retail Loans Initiative for tourism workers until the end of 2019. Banks are authorized to accept loan repayment deferral requests for up to three years under the support initiative and to defer retail and personal housing loan obligations for an additional six months for qualifying customers as of September 30, 2018. The extension applies to existing customers who benefited from the retail loan initiative since its December 7, 2015 issuance, without altering other initiative terms or existing provisions.