Regulatory Alerts2025-03-26
A periodic book on March 26, 2025 on the extension of the period of excluding some food products from the requirements of the cash cover for a year
The Central Bank of Egypt has decided to extend the exception for rice, beans, and lentils from the 100% cash cover requirement for import operations by another year, until March 15, 2026. This decision, based on the Central Bank's monitoring of the Egyptian market's needs and its commitment to facilitating import procedures to meet citizens' demands, applies to all import operations for all companies, subject to each bank's credit assessment. Banks are requested to take the necessary actions to implement this decision.
القاهرة في: ٢٦ مارس ٢٠٢٥ Cairo, March 26, 2025.
السيد الأستاذ/ رئيس مجلس الإدارة Dear Professor/Chairman of the Board, Translation: Dear Professor/Chairman of the Board,
بنك Bank. Translation: Bank.
تحية طيبة وبعد، Greetings and Regards, Translation: Greetings and Regards,
بالإشارة إلى كتاب البنك المركزي المصري المؤرخ ۲۱ ديسمبر ٢٠١٥ بشأن ضوابط العمليات الاستيرادية With reference to the Central Bank of Egypt's letter dated December 21, 2015, regarding the regulations for import operations, Translation: With reference to the Central Bank of Egypt's letter dated December 21, 2015, regarding the regulations for import operations,
والكتب الدورية اللاحقة له، وآخرها الكتاب الدوري المؤرخ ۱۱ مارس ۲۰۲۴ بشأن السماح للبنوك باستثناء and the subsequent circulars, the latest of which is the circular dated March 11, 2024, regarding allowing banks to exempt Translation: and the subsequent circulars, the latest of which is the circular dated March 11, 2024, regarding allowing banks to exempt
كل من الأرز والفول والعدس من الغطاء النقدي بواقع ۱۰۰% على العمليات الاستيرادية لأغراض التجارة rice, beans, and lentils from the 100% cash cover on import operations for trade purposes, Translation: rice, beans, and lentils from the 100% cash cover on import operations for trade purposes,
وذلك لمدة عام ينتهي في ١٥ مارس ۲۰۲۵ ، وفي ضوء متابعة البنك المركزي لاحتياجات السوق المصري for a period of one year ending on March 15, 2025, and in light of the Central Bank's monitoring of the needs of the Egyptian market Translation: for a period of one year ending on March 15, 2025, and in light of the Central Bank's monitoring of the needs of the Egyptian market
وحرصه على تسهيل الإجراءات الاستيرادية لمقابلة احتياجات المواطنين، فقد تقرر مد فترة السماح المشار and its commitment to facilitating import procedures to meet the needs of citizens, it has been decided to extend the aforementioned grace period Translation: and its commitment to facilitating import procedures to meet the needs of citizens, it has been decided to extend the aforementioned grace period
إليها أعلاه لمدة عام آخر ينتهي في ١٥ مارس ٢٠٢٦. for another year, ending on March 15, 2026. Translation: for another year, ending on March 15, 2026.
ويسري هذا القرار على كافة العمليات الاستيرادية لجميع الشركات مع مراعاة الدراسة الائتمانية التي يجريها This decision applies to all import operations for all companies, taking into account the credit study conducted by Translation: This decision applies to all import operations for all companies, taking into account the credit study conducted by
كل بنك. each bank. Translation: each bank.
برجاء التفضل بالتنبيه نحو اتخاذ اللازم للعمل بالقرار المذكور. Please kindly alert to take the necessary action to implement the mentioned decision. Translation: Please kindly alert to take the necessary action to implement the mentioned decision.
وتفضلوا بقبول فائق الاحترام،،، With best regards,,, Translation: With best regards,,,
حسن عبدالله Hassan Abdallah Translation: Hassan Abdallah