CBE extends tourism initiative until end-March

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The Central Bank of Egypt (CBE) decided to extend the tourism initiative and the initiative to support retail facilities related to tourism until the end of March 2023, according to a press release on December 25th.

The CBE extended the grace period of banks’ dues for tourism companies for three months that end on March 31st.

The central bank also extended the validity of the initiative supporting tourism retail facilities for three months that end on March 31st.

During the extension period, banks will be allowed to carry forward dues of tourism customers’ consumer loans and mortgage loans for personal use until the end of next March. The decision applies only to regular customers.

The CBE also allowed banks to postpone the collection of dues for tourism customers who benefited from the tourism retail loan initiative launched on December 7th, 2015.