2020-01-08

A circular dated January 8, 2020 regarding extending the work period for the tourism sector support initiative and the retail loan initiative for workers in the tourism sector until the end of 2020.

The letter requests an extension of the "Real Estate Finance Initiative" and the "Consumer Finance Initiative for Tourism Workers" for an additional year, until December 2020. It also seeks to extend the grace period for tourism workers' loans for six months, in light of the challenges facing the tourism sector. Finally, it mentions the adoption of IFRS 9 standards for loan loss provisions.

Egypt

Central Bank of Egypt

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