The Egyptian Financial Regulatory Authority (FRA) ) issued a decision asking mortgage, financial leasing, and factoring companies to give its retail and corporate customers a grace period of 6 months on loans repayments without any fines. FRA announced the decision in line with the state plan to fend off the impact of coronavirus on the economy and it will be effective as of 18 March. On Monday, the Central Bank of Egypt (CBE) directed banks to extend the repayment period of all loans, including consumer, mortgage, and personal loans, for a period of six months.
