Circular dated April 10, 2016 regarding adding an exception to the import operations instructions

Cairo on: 10 April 2016

Dear Mr./
Chairman of the Board of Directors

Tahya Misr Bank,

Further to the letter from Mr. Governor of the Central Bank of Egypt dated 22 February 2016 regarding banks' inquiries concerning the guidelines for import operations, which included guidance not to accept collection documents received directly from customers abroad, while specifying certain exceptions including:

1. Branches or subsidiaries of foreign companies.

2. Live birds and animals.

3. Raw materials, production supplies, and spare parts for factories via air freight.

4. All goods and products via air freight.

5. Software, applications, computers, and their accessories.

Please be informed that banks are to accept shipping documents submitted directly by customers related to slaughtered or frozen meat shipped by land, in light of the customs procedures and the geographical distance from land shipping routes.

Please kindly ensure the necessary actions are taken to implement the above.

Yours faithfully,

Gamal Naguib