110 Days
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فيتو
Banque Misr clarifies literacy requirements and conditions for obtaining a project financing loan
Historically, Bank of Egypt required the loan applicant or their guarantor to be literate at a minimum to qualify for the loan, aiming to ensure the customer's ability to manage the financing and understand the terms. This requirement also contributed to improving the quality of applications and ensuring that funding reached the eligible groups. Additionally, other conditions were set, such as the applicant's age being between 21 and 65 years, and the activity benefiting from the funding being operational for at least one year. These requirements are part of the bank's efforts to support small and micro enterprises and promote the local economy.
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