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Meeting with Regulator (Central Bank of Egypt)

Objective:
  • To discuss means of enhancing the role of banks in supporting SMEs
  • To discuss and get the bank’s feedback on the decree disseminated by CBE
  • To discuss challenges facing banks regarding extending finance to SMEs
Discussions tackled the concerns of banks raised regarding SME banking and the need for a database with reliable and updated data. Also another main problem was raised which is the absence of a unified definition for SMEs.
The SME Unit announced conducting a Market Research on the SMEs sector in Egypt during the meeting.
 
Outcome:
  • The banks fully supported the initiative of conducting the market research
  • Banks agreed to send their definition for SMEs to CBE