Regulatory Alerts2024-01-18
Added · Updated
Circular dated January 18, 2024 regarding the extension of mandatory credit portfolio ratios for SMEs
The Central Bank of Egypt extends the mandatory requirement for banks to allocate 25% of their credit portfolio to micro, small, and medium enterprises (MSMEs) and 10% specifically to small enterprises until December 31, 2024. This extension applies to the ratios calculated based on the December 31, 2020 position. Banks retain full discretion to collect appropriate guarantees and cheques for granted facilities, while all other provisions of the original February 22, 2021 circular remain in effect.
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