{"id":570094,"date":"2020-03-18T04:21:52","date_gmt":"2020-03-18T04:21:52","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2020\/03\/18\/central-bank-of-egypt-issues-new-debt-relief-initiative-for-individuals\/"},"modified":"2020-03-18T04:21:52","modified_gmt":"2020-03-18T04:21:52","slug":"central-bank-of-egypt-issues-new-debt-relief-initiative-for-individuals","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2020\/03\/18\/central-bank-of-egypt-issues-new-debt-relief-initiative-for-individuals\/","title":{"rendered":"Central Bank of Egypt issues new debt relief initiative for individuals"},"content":{"rendered":"

<\/a> CBE offers new debt relief initiative for individual borrowers:<\/strong> The Central Bank of Egypt (CBE) on Monday launched a new debt relief initiative for individuals at risk of default that will waive marginal interest on debt under EGP 1 mn, according to an official statement.<\/a> Eligible customers will have to make a 50% payment of the original debt in cash or in-kind and arrange a payment plan with the creditor bank. The customers will have their names removed from the CBE and i-Score\u2019s blacklist and will restrictions on their assets lifted.<\/p>\n

The initiative comes one day after the CBE <\/strong>moved to enact<\/a><\/strong> an emergency 300 bps rate <\/strong>cut <\/strong>and extended the tenor of all bank loans to businesses for a period of six months. The extension applies whether the facility is held by an SME, a large corporation, or an individual borrower, CBE Governor Tarek Amer said.<\/p>\n","protected":false},"excerpt":{"rendered":"

CBE offers new debt relief initiative for individual borrowers: The Central Bank of Egypt (CBE) on Monday launched a new debt relief initiative for individuals at risk of default that will waive marginal interest on debt under EGP 1 mn, according to an official statement. Eligible customers will have to make a 50% payment of […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[7106,4649,72,3565,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-570094","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-debt","tag-defaulting","tag-enterpriseam","tag-i-score","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"4a2d25ec-adc9-4b87-87ee-5aeb5cd941ad","is_powered_by":true,"section_story_id":"1154689d-294f-4d45-95b4-84a76d67466c","story_type":"1","photo_url":"","photo_position":"above","related_issue":[570086],"teaser":"","voice_url":""},"yoast_head":"\nCentral Bank of Egypt issues new debt relief initiative for individuals - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2020\/03\/18\/central-bank-of-egypt-issues-new-debt-relief-initiative-for-individuals\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Central Bank of Egypt issues new debt relief initiative for individuals\" \/>\n<meta property=\"og:description\" content=\"CBE offers new debt relief initiative for individual borrowers: The Central Bank of Egypt (CBE) on Monday launched a new debt relief initiative for individuals at risk of default that will waive marginal interest on debt under EGP 1 mn, according to an official statement. Eligible customers will have to make a 50% payment of […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2020\/03\/18\/central-bank-of-egypt-issues-new-debt-relief-initiative-for-individuals\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2020-03-18T04:21:52+00:00\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/03\/18\/central-bank-of-egypt-issues-new-debt-relief-initiative-for-individuals\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/03\/18\/central-bank-of-egypt-issues-new-debt-relief-initiative-for-individuals\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Central Bank of Egypt issues new debt relief initiative for individuals\",\"datePublished\":\"2020-03-18T04:21:52+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/03\/18\/central-bank-of-egypt-issues-new-debt-relief-initiative-for-individuals\/\"},\"wordCount\":156,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"debt\",\"Defaulting\",\"EnterpriseAM\",\"I-Score\",\"SPEED ROUND\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/03\/18\/central-bank-of-egypt-issues-new-debt-relief-initiative-for-individuals\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2020\/03\/18\/central-bank-of-egypt-issues-new-debt-relief-initiative-for-individuals\/\",\"name\":\"Central Bank of Egypt issues new debt relief initiative for individuals - 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The CBE is reportedly still considering extending its EGP 16.8 bn debt relief program, sources told Al Mal. In a conflicting report earlier this week, banking sources had claimed the CBE was not considering the extension. 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The central bank is reportedly about to launch an initiative that would see as many as 107k businesses forgiven interest payments, late charges and lawsuits over loans they are unable to repay, CBE Governor Tarek Amer tells Al Mal.\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":569420,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/02\/24\/central-bank-of-egypt-amends-its-initiative-to-ease-debt-relief-procedures\/","url_meta":{"origin":570094,"position":2},"title":"Central Bank of Egypt amends its initiative to ease debt relief procedures","author":"enterpriseam admin","date":"24 February 2020","format":false,"excerpt":"CBE eases debt repayment terms for financially distressed companies: The Central Bank of Egypt (CBE) will renegotiate debt repayment terms with individual companies seeking help through its initiative to support financially distressed firms, according to an official release (pdf). 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