2020-03-22

A circular dated March 22, 2020 regarding the clarifications regarding postponing customers’ credit dues for a period of 6 months

In a letter dated March 22, 2020, Tarek Amer, addresses the Chairman of the Board of Directors of a bank regarding the postponement of credit installments for clients for six months due to the COVID-19 pandemic. The letter outlines key points, including the scope of credit installments, applicability to all clients, and the exclusion of new credit facilities granted after the issuance of the instructions. Banks are instructed to inform clients of the postponement and any additional costs incurred.

Egypt

Central Bank of Egypt

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