Egypt: CBE Urges Banks to Offer Facilities As Six-Month Suspension of Loan Installments Ends

The Central Bank of Egypt (CBE) under Tareq Amer issued on Monday Sept 14, new directives to back clients whose financial conditions were affected by the coronavirus crisis.

The CBE has deferred for six months the payment of loan installments since the outbreak of the crisis in mid-March.

The clients will not bear any delay fines.

As this delay period ends, the CBE called on banks to offer facilities for clients to pay the deferred loan installments.

Banks should examine the cases of clients to take proper payment measures that go in line with their capabilities.

The CBE also called for taking into consideration the importance of avoiding any pressure on companies' financial liquidity.

The CBE urged banks to examine the consequences of the crisis and its impact on the credit portfolio as well as the various economic sectors.

More From: Egypt Online

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