2013-02-07

Adding some goods to exclude their import operations from the minimum cash insurance rate until the end of June 2013

In a letter dated February 4, 2013, the Central Bank of Egypt announced that it would continue to support the national economy and meet the needs of the local market by allowing banks to exempt certain imports from the minimum cash margin requirement of 50%. These imports include medicines, baby formula, food commodities, animal feed, fertilizers, and pesticides. Banks are given the freedom to set the cash coverage ratio without a minimum limit until the end of June 2013.

Egypt

Central Bank of Egypt

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