Central Bank of Egypt could raise ceiling for mobile lending

The CBE is studying raising the credit ceiling for mobile nano-lending to EGP 1000-1500, up from EGP 500 currently, banking sources familiar with the matter told Al Mal. The bank is now working to set the interest rate banks will charge for mobile lending services, which are set to be introduced by 1H2019 as part of the country’s drive toward financial inclusion.