2016-02-23

Added 2024-09-20 · Updated 2026-08-02

Circular dated January 27, 2016 amending the instructions for import operations

The Central Bank of Egypt amends import operation instructions by restricting documentary collection imports to direct bank-to-bank channels and excluding branches of foreign companies, live animals, and air-shipped factory inputs. It mandates a 100% cash cover for commercial imports via documentary credits, standby letters of credit, and non-backed documentary collections, while granting specific exemptions for medical equipment, spare parts, and software. The bank also prohibits using local currency trade credit limits to fund foreign currency requirements for imports and restricts refinancing for commercial imports shipped after December 31, 2015, except for specific non-commercial or essential goods.

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