ANNOUNCED AS TEMPORARYNo
Controls on commercial transactions and investment instruments
The Central Bank of Egypt on 26 January 2016, issued a Circular specifically aiming to increase the monthly foreign currency-related cash deposit limit (i.e. the maximum amount of foreign currency-based cash that entities can deposit in their bank accounts) for local Egyptian companies exclusively operating in the bellow denoted high priority sectors:
Specifically, the foreign currency-related cash deposit limit on a monthly basis increased from USD 50.000 to USD 250.000. Furthermore, the daily foreign currency-related cash deposit limit of USD 100.000 was removed.
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