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Supervisor
Elham AbolFateh
AR
Tuesday 30 May 2017

Business

Egyptian central bank to launch a microfinance initiative next Tuesday

Friday 19/May/2017 - 07:17 PM
Sada El Balad
Alaa Awad
Egypt’s central bank will launch its anticipated microfinance initiative next Tuesday، a step that follows recent successful initiatives to support the country’s small and medium-sized businesses.

The central bank has invited all the banks operating in the country to attend a meeting on May 23 to announce the details of the new initiative، senior banking sources with knowledge told Amwal Al Ghad on Thursday.

The meeting will be attended by some ministers and representatives of microfinancing associations، the sources added.

Sherif Samy، Chairman of the country’s market regulator، the Egyptian Financial Supervisory Authority (EFSA)، is due to attend the central bank’s May 23 meeting، the sources said.

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