Egypt: Central Bank of Egypt Eases Import Procedures
On May 3, 2018, the Central Bank of Egypt amended their requirements on transfer of import documents. The new policy removes the requirement that exporters transmit import documents bank-to-bank, allowing them to now use courier services or other transfer arrangements. It also waives micro/small/and medium-size companies from the 100 percent deposit on letters of credits when importing essential commodities. The policy shift should ease import restrictions.
