The Central Bank of Egypt (CBE) agreed to settle the companies’ dues worth up to $5 million, which resulted from the floatation of the Egyptian Pound, said Mohamed Shaaban, a member of the Egyptian Union for Investors Association (EUIA).
The EUIA submitted a list of 870 companies, of which 763 companies have dues less than $5 million and their total debts amount to $450 million, according to a statement.
Shaaban said that the EUIA will meet the CBE governor, Tarek Amer, next week to set the settlement mechanism.
