The main target of the Local Development Fund is to finance several projects to support the households and women in increasing their incomes, Shaarawi said.
The accrued interest for this period in addition to the principal will be collected by banks after the end of the six-month period, the CBE said in a statement.
This procedure will contribute to the payment of salaries, wages and obligations existing with suppliers and maintenance work for tourist activities, it added
Under the decision, the value of mortgage loans for personal housing will stand at 40% of the monthly total income of the client, the statement added.
European Bank for Reconstruction and Development reviewed the provision of two senior loans to the National Bank of Egypt with a total amount of $50 million.
Small companies received a total of LE 84.4 billion during that period, according to CBE statistics obtained by MENA Sunday.
About 62,000 small and micro projects were funded, providing nearly 97,000 jobs during the period from January to March 2019.
Governmental loans reached LE 586.4 billion, LE 227.6 billion of which were provided in local currency and LE 340.7 billion in foreign currency.
Governmental loans reached LE 570.5 billion, LE 343 billion of which were provided in foreign currency and LE 227.4 billion in local currency.
CBE’s recent report showed that banks’ loans rose to LE 1.53 trillion by the end of March 2018, compared to 1.45 trillion by the end of December 2017.
Ma’it said the time of repayment has come, referring to the importance of lowering deficit and debt rates.
Another agreement with the African Development Bank on the Economic Governance and Energy Support Program III was passed.
German Ambassador to Egypt, Julius Georg Luy, praised Egypt’s measures to achieve the desired economic growth rate, 7.5 percent
German Radoslav Albrecht has founded an online bank that allows clients to transfer loans anywhere in the world using Bitcoin.
The deal falls within the framework of an initiative by the Central Bank of Egypt to offer loans at 5-7 percent interest rate to SMEs.
Attijariwafa Bank Egypt achieved net profits of LE 1.1 billion in 2017 for the first time in its history, compared to LE 663 million in 2016.
Indian banks could take a hit of more than $3 billion from loans and corporate guarantees provided to diamond companies at the center of a massive alleged fraud at the state-run Punjab National Bank.
China’s banking regulator introduced measures to increase scrutiny on investments in commercial lenders and tighten regulation on the entrusted loans market.
Some businessmen manipulated banks by acquiring SMEs loans to enjoy 5 percent interest rates under the Central Bank of Egypt (CBE) initiative.
Banks shifted focus to SMEs since the CBE launched its initiative to support that sector in early 2016.