Egyptian pound dips vs. USD in morning trade    Egypt posts highest primary surplus since 2005    Egypt govt. reviews divestment programme    Egypt discusses urgent population, development plan with WB    External debt of budget sector falls by $2bn in 10 months: Finance Minister    Gold prices edge higher as markets await key US inflation data, trade clarity    Egypt pursues stronger agricultural investment across Africa    In Oslo, Egypt calls for Palestinian statehood, supports US-Iran nuclear dialogue    Egypt's Irrigation Minister urges scientific cooperation to tackle water scarcity    Egypt reaffirms commitment to ocean conservation at UN conference    Egypt sets rules for foreign delegations visiting Gaza border    123 Palestinians killed in 24hrs as UN experts accuse Israel of genocide in Gaza    US, China reach tentative trade framework    Egypt, Japan deepen healthcare collaboration under PCC project    Egypt boosts higher education ties under 24/25 strategy    Egypt reaffirms support for global plastics treaty at UN Oceans Summit    Egypt unveils 10-year investment plan for healthcare sector    Microsoft offers free AI cybersecurity to European govt.    Egypt's Sisi, UAE's Bin Zayed discuss Gaza ceasefire, regional stability    Egypt, Serbia explore cultural cooperation in heritage, tourism    Egypt discovers three New Kingdom tombs in Luxor's Dra' Abu El-Naga    Egypt launches "Memory of the City" app to document urban history    New Alamein City to host Egypt International Sculpture Symposium, "ART SPACE"    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    Egypt unearths rare Coptic-era structure in Asyut    Amun-Mes named as owner of Luxor's Kampp 23 tomb after 50-year mystery    Egypt's Democratic Generation Party Evaluates 84 Candidates Ahead of Parliamentary Vote    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Cabinet approves establishment of national medical tourism council to boost healthcare sector    Egypt's PM follows up on Julius Nyerere dam project in Tanzania    Egypt's FM inspects Julius Nyerere Dam project in Tanzania    Egypt's FM praises ties with Tanzania    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



CBE controls bank operations by applying sticker obligations
CBE prohibits Egyptian banks from offering retail loans with monthly instalments that exceed 35% of a debtor's net income
Hossam Mounir Published in Daily News Egypt on 12 - 01 - 2016

The Central Bank of Egypt (CBE) prohibited Egyptian banks from offering retail loans with monthly instalments that exceed 35% of a debtor's net income.
Retail loans include personal loans, personal car loans, and personal real estate loans. Banks are allowed to provide a loan with monthly payments that are 40% of a debtor's monthly income in the case of personal real estate loans in accordance to the Law 148 of 2001.
CBE noted that it found in the past that the banks expanded their loan portfolios directed to consumption purposes. In addition, it found that there is incompatibility between the value of these loans' payment instalments, the customer's income, and the granted amounts.
It explained that this percentage reached 50-60% in some banks, which increases the rate of risk and has an adverse effect on the medium term the portfolio's quality.

Clic here to read the story from its source.