Circular dated January 13, 2021 regarding the emphasis on notifying tourism sector clients of the initiatives issued to them and that bank employees are aware of all initiatives

Cairo: January 13, 2021

Dear Sir / Chairman of the Board

Greetings,

With reference to the initiatives of the tourism sector issued by the Central Bank recently, and in light of the continuous follow-up of the performance of these initiatives, it became clear that the utilization of the amounts allocated to them is low. Communication with clients in the mentioned sector revealed that the reason is the failure to inform clients of the details and conditions that enable them to benefit from these initiatives, due to the lack of sufficient information about them at bank branches, especially those located in the governorates.

In light of the above, and with the aim of achieving the objectives of the initiatives and providing the necessary support to the tourism sector in the crisis, especially in light of the current circumstances and repercussions of the new coronavirus crisis, as it is one of the most affected sectors, it is necessary to alert to the following:

• Addressing all clients of the tourism sector in your esteemed bank in writing to inform them of the conditions and specifications of the issued initiatives.

• Providing the Office Supervision Sector of the Central Bank with a copy of such letters immediately upon their issuance.

On another note, and regarding all initiatives issued by the Central Bank of Egypt, please be kind enough to alert to the following:

• Providing the service of answering client inquiries regarding any of the mentioned initiatives through the bank's dedicated hotline.

• Emphasizing the awareness of the concerned employees of all conditions and specifications of the initiatives.

• Providing the Office Supervision Sector of the Central Bank with a monthly statement including cases of rejecting granting credit facilities to clients within the framework of any of the initiatives issued by the Central Bank, with an explanation of the reasons for rejection, on the form prepared for this purpose, which will be provided to you later.

Please be kind enough to alert to full compliance with the above.

Accept our highest respect,

Tarek Amer