The Central Bank of Egypt has decided to lift the ban on dealing with clients who are not in the payment of loans, and release their freedom of dealing with the banking sector; by canceling the black list of companies and the negative list of individuals.
According to Reuters, these decisions are part of exceptional measures to reduce the impact of the outbreak of the Coronavirus.
These measures also included deferring the credit entitlements of medium, small and micro companies for six months and suspending fines of late payment.
The central bank said in a statement issued on Tuesday that canceling black and negative lists will benefit about eight thousand companies and more than 100,000 citizens.
He added that banks will be granted a period of three months from the date of the decision to reconcile the situation, during which the customer databases listed in the credit registration system of the Central Bank and the Egyptian Credit Inquiry Company will be purified.
According to this decision, financing opportunities can be used for those who wish to obtain personal or consumer loans or complete their activities.
The central bank said it is monitoring changes at home and abroad and will not hesitate to take the necessary steps to support the economy.
