2020-04-16

A circular dated April 16, 2020 regarding the mechanism for paying the interest calculated during the credit maturity period

In light of the precautionary measures taken to address the impact of the COVID-19 pandemic, banks are instructed to postpone all customer obligations for 6 months and capitalize the value of returns calculated during the postponement period. This means that the returns are added to the remaining balance of the facility and repaid with the installments over the new duration of the facility. Customers are not to be charged the value of the deferred return with the first installment after the postponement period.

Egypt

Central Bank of Egypt

Show thumbnail