The Central Bank of Egypt's Decision on the Credit Obligation

According to the Ministry of Commerce, the information that an letter of credit will be used in imports in Egypt in order to gain functionality to the system of "Send Pre-Information-Advanced Cargo Information (ACI-ACID)" has been announced in many media outlets since 12 February 2022, with some exceptions and details reported in another reported.

According to this; The Resolution on the use of credit in imports in Egypt shall be enforced as of 22 February 2022.

• The exclusion of Egyptian branches and affiliated partnerships of foreign companies,
• The shipments made prior to the publication of the resolution shall be excluded, (in some reliable sources, the date of publication is 13 February 2022.)
• Wheat, medicines, vaccines, and their raw materials, tea, meat, poultry, fish, oil, milk powder, baby milk, baklalas, lentils, butter oil, corn, etc.
• It is stated that shipments up to $5,000 will be excluded.

Source: Directorate General for Trade Research and Risk Assessment