2019-12-15

Circular dated December 12, 2019 regarding the Irregular Legal Persons Initiative (Creditworthiness Categories 9 and 10)

The letter outlines a financial initiative by the Egyptian Central Bank to stimulate the economy and help irregular clients with their debts. The initiative applies to legal entities with doubtful or bad credit ratings and debts of less than 10 million Egyptian pounds. Clients who pay 50% or more of their debt during the initiative period will be removed from the negative list at the Central Bank and the Egyptian Credit Bureau, and will have their debt-related restrictions lifted.

Egypt

Central Bank of Egypt

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