2013-08-04

Priority in currency management for clients who have waived their foreign exchange proceeds as of 1/8/2013

In a letter to the Chairman of the Board of Directors of a bank, the writer refers to a previous communication dated February 5, 2013, regarding prioritizing foreign currency allocation for certain import operations. Continuing the Central Bank of Egypt's policy of monitoring the foreign exchange market in Egypt and ensuring the efficiency of the foreign currency market, the writer requests that priority be given to providing foreign currency to clients (natural individuals and legal persons) who have relinquished their foreign currency proceeds from August 1, 2013, onwards, and within the limits of the amounts relinquished.

Egypt

Central Bank of Egypt

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