2019-03-07

A circular dated March 6, 2019 regarding the exception of some food products from the cash cover requirements for one year

On March 6, 2019: The Governor of the Central Bank of Egypt discussed import operations and subsequent deposits with due attention to the Egyptian market needs. The decision allows banks to exempt 100% from foreign exchange reserves for importing trade goods until March 15, 2020. This aims to ensure all import operations while considering each bank's financial study. He kindly requests everyone involved to follow the mentioned decision. Please note that this summary is a concise interpretation of the original content and may not cover all details or nuances of the original message.

Egypt

Central Bank of Egypt

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