CBE allocates LE 61 million to pay off debts of female debtors as per presidential initiative

CAIRO – 31 December 2021: The Central Bank of Egypt (CBE) has agreed to contribute with LE 61 million to pay off the debts of female debtors as per the presidential initiative “Prisons without Debtors”.

Minister of Justice Omar Marwan has communicated with Governor of the CBE Tarek Amer on the issue, according to an official statement.

“This comes within the framework of the main role played by the Central Bank to support the state institutions and to contribute socially to easing the burden shouldered by the citizens,” the statement read.

According to the statement, the number of female debtors who have received final sentences throughout the past three years nationwide totaled 729 in 1,222 cases.

The presidential initiative aims to ensure the return of the female debtors to their families and preserve the unity of the Egyptian families.

Egypt released 20,188 debtors in 2019 as per the initiative, Major General Ashraf Ezz Al-Arab, assistant interior minister for the prisons sector, said.

Many female debtors in Egypt are imprisoned after failing to pay off the money they borrowed especially to purchase marriage supplies for their girls.

Some of the debtors are also imprisoned when they act as guarantors for one of their relatives, who are buying in installments and then fail to pay them.