Legislation Information

Regarding the use of Letter of Credit in Imports in Egypt


With the exception that the letter of credit application will be completely abolished by the Central Bank of Egypt as of December 2022, the amount previously announced as 5,000 USD has been increased to 500,000 USD, but even if the letter of credit is to be removed due to reasons such as the foreign exchange deficit persists and the supply of basic commodities to the public, it is time for Egyptian companies to obtain foreign currency for imports. It is reported that it is important for our exporting companies to guarantee their payments while performing their transactions.

Source: Central Anatolian Exporters Association


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