Information from Africa

on February 2022, Egyptian Central Bank issued new Decree about transfer money rules for importing products to Egypt, as The following:
 
The only way to transfer the money for importing products to Egypt is The bank Letter of Credit.
 
the exceptions of this decree are the following:
 
1- The products which shipped before 22 February 2022.
 
2- The products invoice which less than 5 Thousand USD.
 
3- The important products as Oil, Gas, Rice, Sugar, Wheat and raw materials.
 
4- Money transfer between the Multinational companies and its Egyptian branch.