2016-02-23

A circular dated January 27, 2016 amending the instructions for import operations

The letter, dated January 27, 2016, is addressed to the Chairman of the Board of Directors of a bank and concerns import transactions and related regulations. It clarifies that import transactions based on collection documents must be executed through collection documents received by banks directly from foreign banks, with client-received documents not being accepted. It also outlines exceptions to the requirement for 100% cash collateral for import transactions and provides details on import financing restrictions.

Egypt

Central Bank of Egypt

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