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Egypt/laws next to unsecured personal loan


I have a friend in Egypt. He told me that he took from a bank an unsecured personal loan around 10000 Euro to start a private business( a small restaurant in downtown Luxor).His business failed and he lost all of the money. He told me that if he can not give money back to the bank he will be in jail. Really laws in your country are so hard? What interest had the bank to put him in jail? What is the procedure in this case? Thank you.


yes, what he told you is true. If he can not pay back the bank will seize the resturant and sell it. In most cases, the resturant is a rent so the bank will not be able to do so. Therefore, they will prosecute him legally and in most cases the sentense will be jail for few years.




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Mohamed Mostafa


I can help you with your travel related questions before you visit Egypt. I know most of the little hidden tricks and tips and can be of great aid to you when planning a holiday as I live in Port Said and work as lecturer.


Although I live in Port Said, i travelled to most of the egyptian cities and have good idea about visiting many places.

I hold a PhD from the University of Liverpool, UK in Civil Engineering

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