Gamal Negm; Deputy Governor of the Central Bank of Egypt (CBE) said on Tuesday that the government plans to move headquarter of the CBE to the New Administrative Capital (NAC).
He added that there is no defined date to carry out such a plan.
Negm also pointed out that three years of a period of grace passed to enable the national banking institutions to increase rate of funding the small and medium-sized projects.
He added during a forum mounted by the International Monetary Fund (IMF) in the American University in Cairo، that some 65% of the banking loans headed to the private sector.
He then went on to say that about 4.4 % of the banking loans would be considered as bad debt, but he warned that funding of that category of projects are very high.
Negm affirmed that the bigger companies have more assets، so are more capable of coping with financial crises.