The Central Bank of Egypt decided today, Sunday, to cancel all commissions and fees on local transfers in the Egyptian pound, within the framework of a policy of applying proactive measures in order to limit the spread of the Corona virus, and in order to contribute to preserving the health of citizens and workers in the banking sector, and in line with the Central Bank’s approach, To limit rolling banking transactions.
The Central Bank of Egypt confirmed exemption from all commissions and related expenses, in order to reduce cash transactions, because of the health risks it may incur at the present time .. and publishes the “seventh day” text of the Central Bank instructions.
The Central Bank of Egypt had decided to postpone loan installments and credit cards for a period of 6 months due to “Corona”, canceling the fees and commissions applied to point of sale fees, withdrawing from ATMs and electronic wallets for a period of 6 months, and providing the credit limits necessary to finance working capital, in particular the exchange of salaries of employees of companies.
Banks operating in the Egyptian local market started to implement the procedures of the dealing plan and prevent the spread of the Corona virus, by providing antiseptics and implementing a sterilization mechanism for branches and ATMs, and for continuous cleaning and fumigation of banknotes.
The banks ’plan to deal with the Corona virus includes providing equipment and equipment for early detection of the virus, requiring employees to disclose their whereabouts when traveling outside the country, obtaining compulsory leave upon return, and plans for precautionary measures to avoid the spread of infection, especially when it is proven or suspected that a bank employee is exposed For injury.
The Central Bank of Egypt said that several preventive measures will be implemented in relation to the new Corona virus, in line with the state’s orientation and in the interest of safety, security and stability of the banking sector, and customers to ensure that banks carry out their various activities and activities efficiently, as the banks will immediately provide the necessary credit limits To meet the financing of the import operations of basic and strategic commodities in a way that ensures that the demands of the importing companies are met, in particular food commodities, to cover the needs of the markets..
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