2017-07-04

Circular dated July 2, 2017 regarding confirmation of the adjustment period to pay the value of imports in accordance with the circular dated June 5, 2017.

In Cairo, July 2nd, 2017, the Governor of the Central Bank of Egypt announced the connection of my historical book from June 5th, 2017, and its attached document, Minister of Finance Amr El-Garhy's Decision No. 835 for the fiscal year 2017 regarding the full commitment to settle exports exceeding $100 million or their equivalent in foreign currencies through one of the accepted payment methods. This ministerial decision aims to provide a period of grace of up to three months from the date of the decision to allow businesses time to adapt to the new measures. I would like to emphasize that adopting these measures will require a certain adaptation period, and I ask for your understanding and respect. Sincerely, Gamal Nageh

Egypt

Central Bank of Egypt

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