CBE directs banks to increase operation financing for companies

CBE directs banks to increase operation financing for companies

ArabFinance : The Central Bank of Egypt (CBE) directed banks operating in the Egyptian market to increase financing for the operations of companies and factories, especially small and medium enterprises (SMEs), to face the increase in international prices, according to the bank’s statement. The number of SMEs companies operating in Egypt exceeds 126,000. The step falls on line with President Abdel Fattah Al-Sisi’s directives to CBE Governor Tarek Amer to contribute to solving industry problems, increasing employment and production rates, and supporting the economy in the face of developments in global markets. var width=document.documentElement.clientWidth;if(width>=320&&width<728){}; googletag.cmd.push(function(){try{var d=document.documentElement.clientWidth;var a;var c="/21857811890/en.zcom/";var b;if(d>=320&&d<728){a=[300,250];b=["mobile_mr_story"]}else{a=[300,250];b=["MR_Story"]}var h="MR_Story";var g=googletag.defineSlot("/21857811890/en.zcom/",a,"div-gpt-ad-MR_Story").setTargeting("type",b).addService(googletag.pubads());gptAdSlots.push(g);if(h!="MR_Story"){googletag.pubads().collapseEmptyDivs(true,true)}googletag.pubads().enableSingleRequest();googletag.enableServices();if((h=="PSB_Left")||(h=="mobile_psb_left")||(h=="PSB_Top")||(h=="mobile_psb_top")||(h=="PSB_Bottom")||(h=="mobile_psb_bottom")||(h=="PSB_Middle")||(h=="mobile_psb_middle")||(h=="leaderboard_home")||(h=="leaderboard_bottom_home")||(h=="mobile_leaderboard_home")||(h=="mobile_leaderboard_bottom_home")){setInterval(function(){googletag.pubads().refresh([g])},240000)}}catch(f){console.log("Error loading Ad banner "+h)}}); try{googletag.cmd.push(function(){googletag.display("div-gpt-ad-MR_Story")})}catch(e){console.log("Error displaying Ad banner "+bannerName)}; This came during the meeting held by Tarek Amer, which included the finance and risk leaders and the legal departments of the banks, as a continuation of the meetings that the CBE has started with companies since January 2020 to solve their financial problems. Amer stressed the need for banks, in coordination with the Banking Supervision Sector of the CBE, to immediately end judicial disputes about thousands of companies and about 29,000 loans to individuals, while reviewing the rules for classifying troubled clients so that they are not deprived of