Regulatory Alerts2023-01-05 | CBE8.3CBE Regulation Book 8.3 - Statistics Of Foreign Transactions
According to Article 117 of the Central Bank, Banking System and Currency Law No. 88 of 2003, banks, exchange companies, and entities licensed to deal in foreign currency must provide the Central Bank of Egypt with data on their foreign currency transactions, whether conducted on their own account or on behalf of others. The Central Bank determines the timing, content, and submission method and deadlines for this data. To improve the Central Bank's information systems and facilitate electronic data exchange with the banking sector, a program called the "Foreign Currency System" has been developed, allowing banks to electronically input and transmit foreign currency statistics (receipts and payments) through the Central Bank's information network. This document outlines the statistical regulations related to foreign transactions, including general rules and specific guidelines for reporting via the Central Bank's network.