Egyptian banks will finish classifying the SMEs and microenterprises in their loan books by end of August 2016, in accordance with the new unified definition set by the Central Bank of Egypt (CBE) in December 2015, according to executive chairperson of the Egyptian Credit Bureau I-Score, Mohamed Kafafi. Kafafi said that since I-Score started operations back in 2008, any company that is granted credit up to EGP1mn was listed within the SMEs at I-Score; however, following the new SME regulation by CBE, I-Score will be able to conduct more accurate analysis on SMEs, especially with regard to their defaulting rates. (Daily News Egypt)