2013-02-10

Allowing Egyptian natural individuals who transfer their savings from their accounts abroad to re-transfer the same value abroad

The letter, dated February 4, 2013, is addressed to the Chairman of the Board of a bank in Egypt. It announces measures to encourage Egyptian nationals to repatriate their foreign currency savings to Egypt for investment. These measures include allowing individuals to repatriate their funds from overseas accounts to Egyptian banks starting February 10, 2013, with the option to re-transfer the same amount abroad later. Banks are instructed to record such transactions.

Egypt

Central Bank of Egypt

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