Regulatory Alerts2021-03-23
A circular dated March 23, 2021 regarding extending the period of excluding some food products from the cash cover requirements for one year
On March 23, 2021, Central Bank Governor Tarek Amer announced that the exemptions for wheat, legumes, and oilseeds from foreign exchange restrictions on import operations for non-commercial purposes would end on March 15, 2022. This decision was made due to increased domestic supply and market demand. The Egyptian bank has been closely monitoring the situation and will continue to act accordingly based on future requirements.
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fx