Regulatory Alerts2020-01-12
Added · Updated
Circular dated January 12, 2020 regarding the exhaustion of the amount available for the medium-sized companies initiative at a return rate of 7%
The Central Bank of Egypt instructs banks to cease granting new financing under the medium-sized companies initiative effective December 12, 2019, as the allocated EGP 5 billion has been fully exhausted. This directive applies to all commercial banks participating in the program which previously offered loans at a 7% interest rate for industrial, agricultural, and renewable energy sectors.
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monetary
credit
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