Regulatory Alerts2016-04-11
Added · Updated
Circular dated March 31, 2016 confirming full compliance with the instructions for canceling the maximum limits for deposits and cash withdrawals in foreign currencies
The Central Bank of Egypt reiterates the full compliance with the instructions canceling maximum limits for deposits and cash withdrawals in foreign currencies for natural persons and legal entities importing basic goods. It notes that some natural persons are circumventing these rules by depositing large foreign currency amounts to import non-basic goods through companies. The circular demands strict adherence to all issued instructions to prevent such evasion.
Topics
aml
fx
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