2020-03-19

Added 2024-09-20 · Updated 2026-08-02

Circular dated March 19, 2020 regarding amending the special interest rate for a number of Central Bank initiatives

The Central Bank of Egypt amends the special interest rate for three specific initiatives—the Industrial Private Sector Initiative, the Middle-Income Housing Finance Initiative, and the Initiative Supporting the Replacement and Renewal of Guesthouses, Houseboats, and Tourist Transport Fleets—reducing it from 10% to 8% (calculated on a diminishing basis). Banks are compensated for the interest rate differential using the same periodicity as the initiatives, calculated as the credit and discount rate plus 2% minus 8%. This new 8% rate applies to existing customers who previously benefited from these initiatives, effective from the date of the decision, while all other conditions remain unchanged.

Egypt

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