2017-06-06

A circular letter dated June 5, 2017 regarding the payment of the value of imports whose value exceeded two thousand US dollars instead of five thousand US dollars by banks.

The letter is addressed to the Chairman of the Board of Directors of a bank, informing him of a decision to amend certain provisions of the regulations governing the implementation of the Import and Export Law. The amendment concerns the payment of imports exceeding $2,000 or its equivalent in foreign currency, which must be made through banks operating in Egypt. The letter also mentions the procedures for settling the value of imports and the role of the General Organization for Export and Import Control in providing the Customs Authority with data on registered importers and restricted commodity groups.

Egypt

Central Bank of Egypt

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