2022-10-27

A circular dated October 27, 2022 regarding increasing the limit for exempting shipments from the documentary credits decision dated February 13, 2022.

The Governor of the Bank of Egypt, on October 27th, 2022, pointed to the Central Bank's instructions issued on February 13th, 2022, which halted handling documents related to tuition fees for all import transactions and only processed them based on these documents. The Governor also mentioned that the correct interpretation of these instructions excluded shipments worth up to $5 million or equivalent work from these instructions. However, the value of exempted shipments according to this decision has been raised to 500,000 dollars or its equivalent work. In addition, they agreed to accept a high level of regard.

Egypt

Central Bank of Egypt

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