2019-08-07

A circular dated August 7, 2019 regarding the standards for practicing the activity of exporting and importing surplus foreign currency notes

The Central Bank of Egypt is committed to maintaining the performance of the banking sector and has issued guidelines for the export and import of foreign currency banknotes. Banks wishing to engage in this activity must apply for a license from the Central Bank and meet specific requirements, including having approved policies and procedures in place and conducting due diligence on counterparties. The Central Bank also sets limits on the amount of foreign currency that can be exported and requires banks to comply with anti-money laundering and counter-terrorism financing regulations.

Egypt

Central Bank of Egypt

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