Regulatory Alerts2022-06-05
Added · Updated
Circular dated June 5, 2022 regarding financing operations to increase the efficiency of internet speed within the initiative to replace and renovate tourist facilities
The Central Bank of Egypt has decided to include telecommunications and internet speed enhancement works within the scope of its financing initiative for the replacement and renovation of hotels, floating hotels, and tourist transport fleets. This inclusion applies to financing operations offered at a declining interest rate of 8%. The decision was taken during the Board of Directors' meeting held on May 31, 2022, and banks are instructed to ensure compliance with this expansion of eligible activities.
Topics
monetary
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