Regulatory Alerts2016-04-12
A circular dated April 10, 2016 regarding adding an exception to the import operations instructions
In Cairo, on April 10th, 2016, the Governor of the Central Bank of Egypt issued a statement regarding inquiries about import operations rules. The statement clarified that banks will not accept foreign education certificates directly from employees but instead have specific exceptions: 1. Branches or subsidiaries of foreign companies 2. Live animals and animal products 3. Raw materials, spare parts, and industrial machinery transported by air 4. All goods and products transported by air 5. Software, applications, computers, and their accessories The Central Bank also requested that banks accept import certificates directly from employees for live animals, animal products, and processed meat shipped by air due to customs regulations and geographical distances for domestic shipments. Additionally, the Central Bank requests all involved to take note of this announcement and appreciates everyone's cooperation and understanding.