The Central Bank of Egypt announces easier finance for small enterprises
A number of importers argue that the proposed timetable needs a transition period of at least six months, so that small businesses can adapt their accounting systems.
The division head said the meeting examined the direct effect of the decision on supply inside the local market, and that the Chamber submitted a detailed memorandum carrying traders’ proposals on the timetable.
The ministry’s representative stressed that the new rules aim at transparency in the supply chain rather than at fixing prices, and that breaches will go to the Consumer Protection Agency.
Where the divisions stand
Chamber figures put the number of registered businesses at 41,000, up by 3,400 on last year, most of them in retail and logistics.
The small trader is not asking for a subsidy. He is asking for one clear rule that does not change every three months.
A number of importers argue that the proposed timetable needs a transition period of at least six months, so that small businesses can adapt their accounting systems.
The Chamber’s view
- e-invoicing rules for retail among next quarter’s priorities
- A review of the timetable with the trade divisions
- A monthly report to the federation’s board
The meeting closed by forming a joint Chamber–ministry committee, meeting weekly to follow implementation and reporting monthly to the federation’s board.
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