Regulatory Alerts2013-08-04
Added · Updated
Priority in currency management for clients who have waived their foreign exchange proceeds as of 1/8/2013
The Central Bank of Egypt requires banks to prioritize the management of foreign currency for clients, including individuals and legal entities, who waived their foreign exchange proceeds starting from August 1, 2013. This priority applies specifically to the amount of foreign currency that was waived. The directive aims to maintain the efficiency of the foreign exchange market and meet the needs of various economic sectors.
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