Egypt
Bank Guarantees in Egypt
Amr KAMAL explores integrating ICC's URDG758 into Egypt's commercial law for demand guarantees, emphasizing the advanced nature of Egyptian law in recognizing demand and suretyship guarantees, drawing comparisons with global practices.
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
BAFT 2022 Global Annual Meeting: Executive Summary
In the 100th year of its organizational existence, BAFT conducted its Global Annual Meeting on 1-4 May 2022 in Washington, DC, as a hybrid event to accommodate in-person and virtual attendees. The conference began with a gala dinner to mark the centennial celebration.
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.
Afreximbank Reports 30% Increase in LCs in 2021
Year-end 2021 financial results released by African Export-Import Bank (Afreximbank)
Egypt Facing Higher Wheat Costs
One of the world’s largest importers of wheat, Egypt is facing substantially higher costs for the product for which
