2013-10-03

Extending the period of exclusion for import operations of some goods whose import operations are excluded from the minimum cash insurance rate until the end of June 2014.

The CEO/Chairman of the Bank of Alexandria thanked and acknowledged the approval by the Central Bank of Egypt for allowing commercial banks to import a wide range of goods, including foods and agricultural products, under the lowest possible tariff for mature citizens. This includes pharmaceuticals, dairy products, foodstuffs (wheat, edible oils, and grains), animal feeds (corn, soybeans, and other commodities), fertilizers, and pesticides. The Bank of Alexandria will maintain the flexibility to adjust tariffs without the lowest possible limit being breached, while prioritizing the export credit guarantees provided by Egypt's Central Bank. This agreement extends until December 2013.

Egypt

Central Bank of Egypt

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