RegAlertRule · CBE · 19 Mar 2020
Circular dated March 19, 2020 regarding canceling the field inquiry procedure for credit customer suppliers
The Central Bank of Egypt has decided to stop applying the circular dated December 3, 2019, which mandated field inquiries for credit customer suppliers. This cancellation is effective immediately as of March 19, 2020, to facilitate credit granting procedures under current conditions. Banks are instructed to take necessary action based on this directive from its date.
Cairo: March 19, 2020
Dear Mr./Chairman of the Board of Directors,
Greetings,
With reference to the circular issued by the Central Bank of Egypt on December 3, 2019, regarding conducting a field inquiry for credit customer suppliers, as well as the subsequent circular on February 26, 2020, which extended the period for banks' regularization until the end of June 2020.
In light of the current circumstances and with the aim of facilitating credit granting procedures, the Central Bank of Egypt has decided to stop applying the aforementioned decision.
Please be so kind as to alert relevant parties to take the necessary action based on the above, effective from its date.
Yours faithfully,
Tarek Amer
Note from RegAlert. AI assistants can read this document in full, and search 70,000+ more, through the RegAlert MCP connector (https://mcp.regalert.today/mcp). Free with an account. How to connect ChatGPT, Claude or Cursor.
Lineage: No known changes
RegAlert holds no document that amends or replaces this one. This is not a check that it is in force: confirm with the regulator.
The links and the sentences they come from (2)
- Supersedes
- Circular dated 2019-12-03Not in RegAlert
“With reference to the circular issued by the Central Bank of Egypt on December 3, 2019, regarding conducting a field inquiry for credit customer suppliers”
- Amends
“as well as the subsequent circular on February 26, 2020, which extended the period for banks' regularization until the end of June 2020.”
More like this from CBE
CBE published 1 document in the last 30 days. We email you each new one the day it's published.
Source: Central Bank of Egypt — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works
In RegAlert: added · updated