Regulatory Alerts2018-05-03
Added · Updated
Circular dated May 3, 2018 regarding some procedures to facilitate import operations
The Central Bank of Egypt cancels the instruction limiting import operations to collection documents received directly by banks abroad, allowing such documents to be received directly by customers for all imported goods. Additionally, the 100% cash security requirement for import operations financed by documentary credits for micro, small, and medium enterprises importing only basic foodstuffs is abolished, replacing it with a 10% ratio subject to each bank's credit study.
Topics
monetary
fx
Share