2022-10-27

A circular dated October 27, 2022 regarding updating the response to banks’ inquiries regarding documentary credits

Cairo, October 27, 2022: The Governor of the Central Bank of Egypt referenced guidelines issued on February 13, 2022, which ceased all transactions involving educational documents and only allowed exceptions for shipments up to $5 million (USD) or equivalent. These limits have now been raised to $500 million (USD), or an equivalent amount of work. This comes as the US government granted Egypt a waiver in high regard.

Egypt

Central Bank of Egypt

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