Circular dated August 19, 2024 regarding increasing the follow-up period for the receipt of export proceeds of gold jewelry

Cairo on: August 19, 2024

Mr. / Chairman of the Board of Directors
Bank of Egypt

Greetings,

With reference to the circular letter dated December 18, 2022, by which the follow-up period for the receipt of proceeds from gold export operations was reduced to 7 working days from the date of shipment, as well as subsequent circular letters where operations involving the export of gold for manufacturing abroad and subsequent re-import, or the import of gold for manufacturing and subsequent re-export, were exempted, as well as gold jewelry export operations, the follow-up period for the receipt of export proceeds for these operations was set at 30 working days from the date of shipment.

Given the nature of trade movements and in the Central Bank's keenness to support gold jewelry exporters, it has been decided to increase the follow-up period for the receipt of export proceeds for gold jewelry to 75 working days from the date of shipment, while adhering to all other rules currently in effect in this regard.

Please be kind enough to direct compliance with the above.

Yours faithfully,

Hassan Abdallah