Regulatory Alerts2015-10-28
Added · Updated
Accepting cash deposits in foreign currency for export proceeds from some countries
The Central Bank of Egypt permits banks to accept cash deposits in foreign currencies exceeding the standard ceiling from companies exporting to Libya, Syria, Sudan, Palestine, Iraq, and Yemen. Banks must verify that deposit values align with the client's usual business activity and obtain stamped proof of customs declaration. Daily reports of these transactions must be submitted using Form 5018, effective from May 17, 2015.
More like this from CBE
CBE published 2 documents in the last 30 days. We email you each new one the day it's published.
Topics
Share