Regulatory Alerts2016-02-22
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Circular dated February 22, 2016 regarding adding some exceptions to the import operations instructions
The Central Bank of Egypt amends import operation instructions to restrict documentary collections to direct bank-to-bank channels, granting banks a one-month grace period from December 21, 2015, while exempting branches of foreign companies, live animals, air freight of raw materials and spare parts, all air freight goods, and computer software and hardware. Additionally, the requirement for 100% cash insurance is waived for basic goods and products, including essential food items, production equipment, medical supplies, and pharmaceuticals.
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