IMPLEMENTATION LEVEL

NFI

AFFECTED FLOW

Inflow

ANNOUNCED AS TEMPORARY

No

NON-TRADE-RELATED RATIONALE

No

ELIGIBLE FIRMS

all

JUMBO

No

TARIFF PEAK

No
← back to the state act
Inception date: 26 Jan 2016 | Removal date: open ended
Still in force

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:

  • Essential food products
  • Machines, production equipment and spare parts
  • Intermediary commodities and production requisites and raw material
  • Medicines, vaccines and related chemicals

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. 

 

 

AFFECTED COUNTRIES

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