By: Islam Fadl

Cairo – Mubasher: The Egyptian Financial Regulatory Authority (FRA) issued a decision requiring mortgage, financial leasing, and factoring companies to extend the repayment period of loans to retail and corporate customers for six months.

Throughout the mentioned period, no late fees will be applied, the FRA said in a statement on Wednesday.

Sources told Mubasher that the decision has been 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.