2015-10-22

A circular dated October 20, 2015 regarding the conditions for accepting cash deposits in foreign currency for export proceeds from some countries.

In a letter dated October 20, 2015, the Chairman of the Board of Directors of a bank in Cairo, Egypt, addresses the acceptance of cash deposits in foreign currencies from companies that trade with a limited number of countries (Libya, Syria, Sudan, Palestine, Iraq, and Yemen). The letter outlines conditions for accepting such deposits, including the requirement that the deposit amount corresponds to the value and nature of the exporter's business activities and relevant documentation. It also specifies the procedures for exporters to obtain final approval from the General Authority for Export Control and the Ministry of Trade and Industry.

Egypt

Central Bank of Egypt

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