News Content
CBE amends import regulations to allow banks to handle documents
THE Central Bank of Egypt (CBE) will now allow importers to provide shipping documents directly to banks, a mechanism prohibited in the February regulations with the exception of air cargo.
But this new regulation extends the exception to parties involved in the import of slaughtered meat and frozen road cargo, reports the Cairo Daily News.
The CBE said the new decision attempts to address the need for expediency when dealing with the geographic dimensions of food items.
Thus, the CBE exempted foreign company's subsidiaries which import live birds and animals, industrial raw materials, industrial spare parts, and air freight from the regulations.
The exemption was also extended to foreign subsidiaries importing software, electronic devices, computers and computer accessories.
But this new regulation extends the exception to parties involved in the import of slaughtered meat and frozen road cargo, reports the Cairo Daily News.
The CBE said the new decision attempts to address the need for expediency when dealing with the geographic dimensions of food items.
Thus, the CBE exempted foreign company's subsidiaries which import live birds and animals, industrial raw materials, industrial spare parts, and air freight from the regulations.
The exemption was also extended to foreign subsidiaries importing software, electronic devices, computers and computer accessories.
Latest News
- For the first time, tianjin Port realized the whole process of dock operati...
- From January to August, piracy incidents in Asia increased by 38%!The situa...
- Quasi-conference TSA closes as role redundant in mega merger world
- Singapore says TPP, born again as CPTPP, is now headed for adoption
- Antwerp posts 5th record year with boxes up 4.3pc to 10 million TEU
- Savannah lifts record 4 million TEU in '17 as it deepens port
