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The Central Bank of Egypt announced the return of fees and commissions applied to ATMs and electronic wallets, after the expiration of the 6-month term on Tuesday, ranging from 5 pounds to 20 pounds in banks that operate in Egypt.
The Central Bank announced last night, Monday, the return of the deduction of the installments of deferred loans to 6 months, during the next days, of the accounts and salaries of the participants in the initiative, after the expiration, today, Tuesday, of the initiative of deferral of benefits launched by the Central Bank of Egypt in mid-March last, and 5 benefited from it. Millions of people and businesses, with total deferred loans estimated at 2 trillion – equivalent to 1,000 trillion – pounds for a period of 6 months as part of the measures to mitigate the repercussions of the Coronavirus“.
During the loan deferral period, the banks suffered the impact of their cash flows as a result of the delay in the payment of loan installments, confirming their national role in supporting the Egyptian economy that has passed the most difficult stage of the Coronavirus crisis, especially as the Egyptian economic sectors have started to work largely by maintaining the necessary precautionary and prevention measures. Preserve the health of citizens and not be affected by business indicators and results.
And the Central Bank of Egypt announced the postponement of loan and credit card fees for a period of 6 months due to the “Crown”, cancellation of fees and commissions applied to point of sale fees and ATM withdrawals. automatic machines and electronic wallets for a period of 6 months, and the provision of credit limits necessary to finance the working capital, especially by paying the salaries of the company’s employees. .
