2016-02-15

Circular dated February 15, 2016 amending the maximum cash deposit in foreign currency for export companies

The letter, addressed to the Chairman of the Board of Directors of a bank, communicates a decision by the Central Bank of Egypt regarding maximum limits for cash deposits in foreign currencies. It states that for companies engaged in exporting with import needs, the monthly cash deposit limit is increased to one million US dollars or its equivalent in foreign currency, provided that deposit amounts are proportional to import requests and that export proceeds in foreign currency are received within a maximum of three months. The letter emphasizes the importance of monitoring the implementation of these instructions and ensuring their effectiveness to maintain control over the execution of transactions.

Egypt

Central Bank of Egypt

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