2015-10-22

Added 2024-09-20 · Updated 2026-08-02

Circular dated October 20, 2015 regarding conditions for accepting foreign currency cash deposits for export proceeds from specific countries

The Central Bank of Egypt permits banks to accept cash deposits in foreign currency from exports to Libya, Syria, Sudan, Palestine, Iraq, and Yemen, provided the amounts exceed the standard deposit ceiling. This authorization is conditional upon the depositor ensuring the deposit value aligns with the normal scope of their commercial activity and supporting documentation. Exporters must obtain a certified copy of the customs declaration, have it approved by the General Authority for Export and Import Control, and secure final endorsement from the External Trade Department at the Ministry of Trade and Industry before submitting it to the bank.

Egypt

Central Bank of Egypt

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