Some companies refuse CBE’s pre-float LC settlement agreement with UEIA, to discuss alternate solutions

Some companies want better terms on agreement to settle pre-float LCs and demand loans: Some companies have reportedly refused a settlement agreement on pre-float LCs brokered by the Central Bank and the Union of Egyptian Investors Associations (UEIA). The complainers will be meeting with the UEIA this week to discuss alternate solutions and present a list of demands to the CBE’s Deputy Governor Gamal Negm in a few days, Al Borsa says. The central bank had reached an agreement with the UEIA in February.