The Central Bank of Egypt (CBE) has launched an initiative to guarantee import operations by covering the risks associated with issuing documentary credits through banks, which will be issued starting from 22 February.

In a letter to the banks, the CBE said that the initiative targets customers who have a history of importing through collection documents only and from the same bank.

For more information, please see https://dailynewsegypt.com/2022/02/21/egypts-cbe-launches-initiative-to-ensure-import-operations-are-carried-out-using-documentary-credits/