Circular dated March 15, 2018 regarding the necessity of Central Bank approval when dealing with money export companies

Cairo: March 15, 2018

Dear Sir,
Chairman of the Board of Directors,

Greetings,

With reference to the periodic letters issued regarding the rules for exporting surplus foreign currency notes held by banks to abroad, the latest of which is the periodic letter dated March 7, 2005, I would like to state that it has been observed recently that some money export companies are offering their services to banks to export foreign currency on their behalf.

In light of the above, I would like to emphasize the necessity of referring to the Central Bank of Egypt before dealing with money export companies, in order to obtain prior approval for such dealings.

Please be kind enough to alert everyone to the strict adherence to the above.

Accept my highest regards and appreciation,

Gamal Naguib