2020-02-20

A circular dated February 20, 2020 following the initiative for irregular legal persons (creditworthiness categories 9 and 10)

The letter discusses a meeting held by the Egyptian Central Bank with concerned banks and several struggling companies and factories with problematic and bad debts. The meeting addressed the obstacles faced by investors and their companies, the reasons for their struggles, and the necessary steps for the banking sector to facilitate their reintegration into the economic system and increase their production capacity. The Central Bank of Egypt's Board of Directors decided to amend two items related to the initiative, including modifying repayment periods and ratios to assist clients in overcoming financial difficulties and ensuring consistent cash flows to meet obligations.

Egypt

Central Bank of Egypt

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