Regulatory Alerts2017-06-22
Added · Updated
Circular dated June 22, 2017 regarding extending the work period for the retail loans initiative for workers in the tourism sector
The Central Bank of Egypt extends the validity of its December 7, 2015 retail loan initiative for tourism sector employees until the end of December 2017. During this extension, banks are permitted to defer repayment obligations for eligible customers' personal housing and mortgage loans for six months from the due date without charging late interest. All other provisions of the original initiative remain in full force.