18th of May 2020
CBE CIRCULAR DATED 15 MARCH 2020 ON PRECAUTIONARY MEASURES TO COUNTER COVID-19
Keywords: Retail & Consumer Goods, Employment
Here’s the link to the CBE Circular imposing precautionary measures on banks, issued on 15 March 2020, to counter the effects of COVID-19 Virus and replace physical contact with more advanced online dealing. ►►► Circular dated 15 March 2020 regarding the precautionary measures to counter the effects of COVID-19 Virus
As for the technical measures to avoid the adverse effect on the operations of the banking sector, the CBE took the following decisions:
- Banks must provide the necessary credit limits for imports of strategic and essential goods.
- Providing the necessary credit limits to finance working capital, especially the payment of salaries.
- Study the sectors affected by covid-19 in order to set a support plan
- Extend the due dates of medium, small and micro companies for a period of 6 months, and suspend the application of late fees.
- Develop urgent plans to increase the credit limits with external banks, in order to ensure continued provision of funding for foreign trade operations.
As for the banking operations:
- Focus on the customers’ service.
- Periodic maintenance and reload of the ATM machines.
- Keep the customers deposits to form large banknotes in the branch network of banks and their cash centers
- Use electronic channels in dealing with customer.
- Offer exemptions on any fees applicable on using points of sales, cash machines and electronic wallets for 6 months.
- Encourage clients to replace large cash withdrawals by checks or banks transfers.
- Increase the daily limits for dealing with debit and credit cards.
Here’s the link to the CBE Circular imposing precautionary measures on banks, issued on 15 March 2020, to counter the effects of COVID-19 Virus and replace physical contact with more advanced online dealing. ►►► Circular dated 15 March 2020 regarding the precautionary measures to counter the effects of COVID-19 Virus
As for the technical measures to avoid the adverse effect on the operations of the banking sector, the CBE took the following decisions:
- Banks must provide the necessary credit limits for imports of strategic and essential goods.
- Providing the necessary credit limits to finance working capital, especially the payment of salaries.
- Study the sectors affected by covid-19 in order to set a support plan
- Extend the due dates of medium, small and micro companies for a period of 6 months, and suspend the application of late fees.
- Develop urgent plans to increase the credit limits with external banks, in order to ensure continued provision of funding for foreign trade operations.
As for the banking operations:
- Focus on the customers’ service.
- Periodic maintenance and reload of the ATM machines.
- Keep the customers deposits to form large banknotes in the branch network of banks and their cash centers
- Use electronic channels in dealing with customer.
- Offer exemptions on any fees applicable on using points of sales, cash machines and electronic wallets for 6 months.
- Encourage clients to replace large cash withdrawals by checks or banks transfers.
- Increase the daily limits for dealing with debit and credit cards.
CBE CIRCULAR DATED 15 MARCH 2020 ON PRECAUTIONARY MEASURES TO COUNTER COVID-19
23rd of April 2020
Keywords: Retail & Consumer Goods, Commercial
Here’s the link to the CBE Circular imposing precautionary measures on banks, issued on 15 March 2020, to counter the effects of COVID-19 Virus and replace physical contact with more advanced online dealing. ►►► Circular dated 15 March 2020 regarding the precautionary measures to counter the effects of COVID-19 Virus
As for the technical measures to avoid the adverse effect on the operations of the banking sector, the CBE took the following decisions:
- Banks must provide the necessary credit limits for imports of strategic and essential goods.
- Providing the necessary credit limits to finance working capital, especially the payment of salaries.
- Study the sectors affected by covid-19 in order to set a support plan
- Extend the due dates of medium, small and micro companies for a period of 6 months, and suspend the application of late fees.
- Develop urgent plans to increase the credit limits with external banks, in order to ensure continued provision of funding for foreign trade operations.
As for the banking operations:
- Focus on the customers’ service.
- Periodic maintenance and reload of the ATM machines.
- Keep the customers deposits to form large banknotes in the branch network of banks and their cash centers
- Use electronic channels in dealing with customer.
- Offer exemptions on any fees applicable on using points of sales, cash machines and electronic wallets for 6 months.
- Encourage clients to replace large cash withdrawals by checks or banks transfers.
- Increase the daily limits for dealing with debit and credit cards.
Here’s the link to the CBE Circular imposing precautionary measures on banks, issued on 15 March 2020, to counter the effects of COVID-19 Virus and replace physical contact with more advanced online dealing. ►►► Circular dated 15 March 2020 regarding the precautionary measures to counter the effects of COVID-19 Virus
As for the technical measures to avoid the adverse effect on the operations of the banking sector, the CBE took the following decisions:
- Banks must provide the necessary credit limits for imports of strategic and essential goods.
- Providing the necessary credit limits to finance working capital, especially the payment of salaries.
- Study the sectors affected by covid-19 in order to set a support plan
- Extend the due dates of medium, small and micro companies for a period of 6 months, and suspend the application of late fees.
- Develop urgent plans to increase the credit limits with external banks, in order to ensure continued provision of funding for foreign trade operations.
As for the banking operations:
- Focus on the customers’ service.
- Periodic maintenance and reload of the ATM machines.
- Keep the customers deposits to form large banknotes in the branch network of banks and their cash centers
- Use electronic channels in dealing with customer.
- Offer exemptions on any fees applicable on using points of sales, cash machines and electronic wallets for 6 months.
- Encourage clients to replace large cash withdrawals by checks or banks transfers.
- Increase the daily limits for dealing with debit and credit cards.
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