Regulatory Alerts2024-07-01
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Circular dated July 1, 2024 regarding the gradual cancellation of the treatment of non-performing loans for small and medium enterprises according to the instructions of IFRS No. 9
The Central Bank of Egypt gradually removes the temporary exemption for small and medium enterprises from IFRS 9 non-performing loan treatment over an 18-month period ending December 31, 2025. The exemption is lifted based on escalating delinquency thresholds: 180 days until December 31, 2024; 150 days until June 30, 2025; and 120 days until December 31, 2025, after which the standard 90-day threshold applies from January 1, 2026. Additionally, the provision allowing the upgrade of customers from Stage 3 to Stage 2 upon meeting quantitative and qualitative criteria and maintaining regular payments for 90 days is extended until December 31, 2025.
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