CBE puts off collection of credit liabilities for 6 months: Governor

CAIRO - 17 March 2020: The Central Bank of Egypt (CBE) has obliged all local banks to delay the collection of credit liabilities for six months.

The move is part of the state's precautionary measures against the novel coronavirus (COVID-19) outbreak, CBE Governor Tarek Amer said on Monday.

In a statement, the bank indicated that it had decided to postpone the payment of any credit liabilities on individuals and institutions, including consumption loans and mortgages, without any rates or fines for delayed payments.

The CBE instructed all banks to take the actions necessary in light of the bank's decision as of Monday.