2020-03-16

A circular dated March 16, 2020 regarding extending the period of excluding some food products from the cash cover requirements for one year

In a letter dated March 16, 2020, the Governor of the Central Bank of Egypt communicated a decision to extend the period of exemption for rice, beans, and lentils from the 100% cash coverage requirement on import operations for trade purposes for another year, until March 15, 2021. This decision applies to all import operations of all companies, subject to the credit study conducted by each bank. The letter was addressed to the Chairman of the Board of Directors of a bank, requesting him to take the necessary action to implement the mentioned decision.

Egypt

Central Bank of Egypt

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