2025-08-12
Added · Updated
Banks must ensure that settlement within the Arab Republic of Egypt via electronic point-of-sale (POS) devices is conducted exclusively in Egyptian pounds. Banks are required to inform their clients of this directive and emphasize the provision of foreign currency needs according to their respective policies. Compliance with these requirements is effective as of Sunday, August 17, 2025.
Mr. Professor/Chairman of the Board of Directors Bank Greetings, After, Cairo on: August 12, 2025
With reference to Article No. (212) of the Central Bank and Banking System Law issued by Law No. 194
For the year 2020, which stipulates that "...... Transactions within the Arab Republic of Egypt shall be in Egyptian pounds unless
Otherwise stipulated in an international agreement or in another law or in cases where a decision is issued by the Council of
Management", as well as the periodical book dated June 18, 2023, regarding the modification of software applied to point-of-sale devices
Electronic (POS) or its special converter, so that dealing in discount operations in foreign currency is not accepted within
The Arab Republic of Egypt, only after obtaining the necessary approvals in this regard.
In light of what is stated in the aforementioned periodical book, and with regard to electronic collection through points of sale
Electronic (POS), please kindly direct to ensure that the settlement within the Arab Republic of Egypt is done in the currency of
Only Egyptian pounds, provided that banks inform their clients of what has been provided, while emphasizing the provision of the needs of these
Clients from foreign currency according to your bank's policies in this regard.
Please note the commitment to the above, effective Sunday, August 17, 2025.
Please accept our highest respect and appreciation,
Hassan Abdullah
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