Banks start collecting withdrawals from ATMs starting today

The Central Bank of Egypt announced the return of fees and commissions applied to ATMs and e-wallets, after the expiration of the 6-month deadline today, Tuesday, ranging from 5 pounds to 20 pounds in banks operating in Egypt.

The Central Bank announced yesterday evening, Monday, the return of the deduction of 6-month deferred loan installments, during the coming days, from the accounts and salaries of the participants in the initiative, after the expiration, today, Tuesday, of the period of the initiative to postpone benefits launched by the Central Bank of Egypt in the middle of last March, and 5 benefited from it. Millions of individuals and companies, with total deferred loans estimated at 2 trillion – equivalent to 1,000 billion – pounds for a period of 6 months as part of measures to mitigate the repercussions of the Coronavirus“.

During the loan postponement period, banks endured the impact of their cash flows as a result of delaying payment of loan installments, which confirms their national role in supporting the Egyptian economy that has passed the most difficult stage in the Coronavirus crisis, especially since the Egyptian economic sectors have begun to work in a large way while maintaining the necessary precautionary and preventive measures. To preserve the health of citizens, and not to be affected by business indicators and results.

And the Central Bank of Egypt announced the postponement of loan installments and credit cards for a period of 6 months due to “Corona”, the cancellation of fees and commissions applied to point of sale fees and withdrawals from ATMs and electronic wallets for a period of 6 months, and the provision of the necessary credit limits to finance working capital, especially paying the salaries of company employees. .

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