Regulatory Alerts2020-05-14
Added · Updated
Circular dated May 13, 2020 regarding allowing the contracting sector to benefit from the private sector industrial initiative
The Central Bank of Egypt authorizes contracting companies with annual turnover or revenues of 50 million Egyptian pounds or more to benefit from the private sector industrial and agricultural initiative. This initiative provides financing of 100 billion Egyptian pounds through banks at an annual declining interest rate of 8%. The decision applies effective May 13, 2020, subject to the conditions specified in the original initiative issued on December 12, 2019.
Topics
monetary
credit
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