Regulatory Alerts2013-02-10
Added · Updated
Allowing Egyptian natural persons who transfer their savings from their accounts abroad to re-transfer the same value abroad
The Central Bank of Egypt permits Egyptian natural persons who transferred savings from foreign accounts to Egyptian banks, effective February 10, 2013, to re-transfer the same value abroad to the original sender upon liquidation of their investments in Egypt, provided supporting documents are submitted. Each bank is required to record these incoming transfers from its clients starting from the aforementioned date.
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