2020-09-14

A circular letter dated September 14, 2020, in addition to postponing customers’ credit dues

In light of the recent economic crisis and the Egyptian Central Bank's efforts to stabilize the banking sector, banks are instructed to support customers affected by the crisis by reviewing credit facilities and restructuring customer debts. This includes extending credit periods, waiving penalties, and capitalizing interest values without putting pressure on companies' liquidity. Banks are also advised to assess overall risks and conduct stress tests to prepare for potential losses.

Egypt

Central Bank of Egypt

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