Bulletin Updates
Advisory about new import rules take effect in Egypt – 16 May 2022
May 16, 2022
The Central Bank of Egypt had issued a new guideline mandating importers to use letters of credit instead of cash-against-documents. The move was to guarantee import operations by covering risks associated with issuing letters of credit from banks
However, as per a recent Egyptian Government directive, production inputs and raw materials will be exempt from the L/C route which was announced in February 2022. Raw materials to be exempted from new importation measures
The full story is for subscribers. Log in to read it, or start a free trial.
Log in Start a free trial »
Log in Start a free trial »