CBE Issues Additional Measures to Ease Disruptions from Pandemic
The Central Bank of Egypt (CBE) published a circular with instructions on emergency liquidity assistance to banks that are unable to meet their liquidity requirements. In the light of COVID-19 pandemic, CBE also decided to extend the relief measure on exemptions from commissions and expenses related to certain bank services, until June 30, 2022. Furthermore, CBE published temporary measures for small and medium enterprises (SMEs) on the treatment of non-performing loans (NPLs) under IFRS 9 regulation and a circular on the framework for writing-off NPLs.
Related Links (in Arabic)
- Circular on Emergency Liquidity Assistance (PDF)
- Circular on Extending Exemptions from Commissions (PDF)
- Circular on Temporary Measures for SMEs (PDF)
- Circular on Framework for Writing-Off NPLs (PDF)
Keywords: Middle East and Africa, Banking, NPLs, COVID-19, Liquidity Risk, Emergency Liquidity Assistance, SMEs, IFRS 9, Credit Risk, CBE
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