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New Loan Repayment Scheme Approved in Egypt

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Staff Writer, TLR

Published on July 14, 2023, 17:41:00

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bid ease adverse economic effects COVID19 pandemic Egyptrsquos Central

In a bid to ease the adverse economic effects of COVID-19 pandemic, Egypt’s Central Bank has approved a new loan repayment scheme.

Several businesses will be benefitted with the new scheme as the banks in Egypt should restructure credit facilities. According to sources, loan periods will be extended and outstanding installments will be restructured.

Moratoriums for loan repayment have also been introduced to ease out the repayment structure. A supervisory framework for non-performing loans along with a time frame for banks to execute non-performing facilities have been introduced.

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