Central Bank of Egypt (CBE)
Egyptian LC Policy Weakened Trader Confidence
At year-end 2022, the Central Bank of Egypt (CBE) announced cancellation of its mandate requiring use of letters of credit
Egypt to Phase Out Mandatory LCs for Imports
The Central Bank of Egypt announced in a statement released on 27 October 2022 that it will begin a process
Egypt to Ease Foreign Currency Restrictions
Following an August 2022 change in its leadership, the Central Bank of Egypt has eased foreign currency restrictions by permitting
Egyptian Banks Report LC Openings up 87%
Egyptian banks opened LCs worth USD 11.6 billion over a six-week stretch from 1 March to mid- April 2022
Domestic Correspondent Report: Egypt's New Importation Process
Starting March 1, 2022, Egypt's Central Bank now mandates the use of documentary credits for import operations, discontinuing documentary collections, except for certain exceptions.
Egypt’s Central Bank Mandates LC Use for Imports
The Central Bank of Egypt announced in mid-February 2022 that Egyptian banks must only accept letters of credit for the purchase of imports.
