Regulatory Alerts2015-09-01
Added · Updated
Circular dated August 30, 2015 regarding the maximum limit for transfers abroad
The circular clarifies that there is no objection to processing foreign natural persons' requests for foreign currency transfers abroad, provided the funds originate from the client's own resources such as salaries, investment returns, or prior foreign currency transfers into Egypt. It also reiterates that Egyptian natural persons who transfer savings from their foreign accounts to banks in Egypt may re-transfer the same value abroad in their own name, subject to the procedures outlined in the circular dated January 6, 2014.
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