{"id":642357,"date":"2017-08-13T03:59:48","date_gmt":"2017-08-13T03:59:48","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2017\/08\/13\/cbe-breathes-life-back-into-fx-bureaus\/"},"modified":"2017-08-13T03:59:48","modified_gmt":"2017-08-13T03:59:48","slug":"cbe-breathes-life-back-into-fx-bureaus","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2017\/08\/13\/cbe-breathes-life-back-into-fx-bureaus\/","title":{"rendered":"CBE breathes life back into FX bureaus"},"content":{"rendered":"<p><strong>CBE breathing life back into FX bureaus?<\/strong> The central bank plans to allow up to 24 FX bureaus it had shuttered last year at the height of the FX crunch to come back to life, according to statements by CBE Sub-Governor Tarek Fayed on Saturday. The move comes as FX reserves have been shored up, reaching USD 36 bn in July. <a href=\"http:\/\/www.almasryalyoum.com\/news\/details\/1175811\">By Al Masry Al Youm\u2019s count<\/a>, up to 27 bureaus were given temporary suspensions or saw their licenses revoked for engaging in black market FX transactions.<\/p>\n<p>On a related note, <strong>the National Bank of Egypt plans to open a foreign exchange company <\/strong><strong>sometime this week<\/strong>, said the head of the new company, who explained it will operate outside banking hours and could open 50 branches nationwide.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>CBE breathing life back into FX bureaus? The central bank plans to allow up to 24 FX bureaus it had shuttered last year at the height of the FX crunch to come back to life, according to statements by CBE Sub-Governor Tarek Fayed on Saturday. The move comes as FX reserves have been shored up, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-642357","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"4d7ee278-6a2e-48b6-b966-263581aa7885","order":"0","is_powered_by":true,"section_story_id":"a82c729c-fb89-4718-8a14-25e027571baf","story_type":"1","photo_url":"","photo_position":"above","related_issue":[642347],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>CBE breathes life back into FX bureaus - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2017\/08\/13\/cbe-breathes-life-back-into-fx-bureaus\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CBE breathes life back into FX bureaus\" \/>\n<meta property=\"og:description\" content=\"CBE breathing life back into FX bureaus? The central bank plans to allow up to 24 FX bureaus it had shuttered last year at the height of the FX crunch to come back to life, according to statements by CBE Sub-Governor Tarek Fayed on Saturday. The move comes as FX reserves have been shored up, [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2017\/08\/13\/cbe-breathes-life-back-into-fx-bureaus\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2017-08-13T03:59:48+00:00\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/08\/13\/cbe-breathes-life-back-into-fx-bureaus\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/08\/13\/cbe-breathes-life-back-into-fx-bureaus\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"CBE breathes life back into FX bureaus\",\"datePublished\":\"2017-08-13T03:59:48+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/08\/13\/cbe-breathes-life-back-into-fx-bureaus\/\"},\"wordCount\":131,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"EnterpriseAM\",\"SPEED ROUND\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/08\/13\/cbe-breathes-life-back-into-fx-bureaus\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2017\/08\/13\/cbe-breathes-life-back-into-fx-bureaus\/\",\"name\":\"CBE breathes life back into FX bureaus - EnterpriseAM Egypt\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\"},\"datePublished\":\"2017-08-13T03:59:48+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/08\/13\/cbe-breathes-life-back-into-fx-bureaus\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/enterpriseam.com\/egypt\/2017\/08\/13\/cbe-breathes-life-back-into-fx-bureaus\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/08\/13\/cbe-breathes-life-back-into-fx-bureaus\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/enterpriseam.com\/egypt\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"CBE breathes life back into FX bureaus\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"name\":\"EnterpriseAM\",\"description\":\"The State of the Nation\",\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/enterpriseam.com\/egypt\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\",\"name\":\"EnterpriseAM\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ent.news\/internal\/240894.svg\",\"contentUrl\":\"https:\/\/ent.news\/internal\/240894.svg\",\"caption\":\"EnterpriseAM\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\",\"name\":\"enterpriseam admin\",\"sameAs\":[\"http:\/\/enterpriseam.testing.projectsarea.com\"],\"url\":\"https:\/\/enterpriseam.com\/egypt\/author\/enterpriseam\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"CBE breathes life back into FX bureaus - EnterpriseAM Egypt","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/enterpriseam.com\/egypt\/2017\/08\/13\/cbe-breathes-life-back-into-fx-bureaus\/","og_locale":"en_US","og_type":"article","og_title":"CBE breathes life back into FX bureaus","og_description":"CBE breathing life back into FX bureaus? The central bank plans to allow up to 24 FX bureaus it had shuttered last year at the height of the FX crunch to come back to life, according to statements by CBE Sub-Governor Tarek Fayed on Saturday. 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FX bureaus have reportedly lost much revenue\u2026","rel":"","context":"In &quot;Banking + Finance&quot;","block_context":{"text":"Banking + Finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/banking-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":647446,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/05\/10\/cbe-issues-new-directives-to-regulate-relationship-between-banks-and-fx-bureaus\/","url_meta":{"origin":642357,"position":1},"title":"CBE issues new directives to regulate relationship between banks and FX bureaus","author":"enterpriseam admin","date":"10 May 2017","format":false,"excerpt":"Egyptian banks can only do business with up seven foreign exchange bureaus at a time, according to the latest Central Bank directives issued late on Monday, Al Mal says. Banks have a three-month window to comply with new regulations and present copies of their updated contracts to the CBE.","rel":"","context":"In &quot;Banking + Finance&quot;","block_context":{"text":"Banking + Finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/banking-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":586885,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/05\/18\/fx-bureaus-face-strict-capital-requirements-tighter-controls-as-cbe-moves-to-curb-black-market\/","url_meta":{"origin":642357,"position":2},"title":"FX bureaus face strict capital requirements, tighter controls as CBE moves to curb black market","author":"enterpriseam admin","date":"18 May 2023","format":false,"excerpt":"Regs to strike \u201csignificant blow\u201d to the parallel market","rel":"","context":"In &quot;REGULATION WATCH&quot;","block_context":{"text":"REGULATION WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/regulation-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/5\/914.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":612715,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/12\/27\/central-bank-shuts-7-fx-bureaus-plus-news-on-east-qantara-dry-port-easypay-cards-capital-gains-tax-pe-firms\/","url_meta":{"origin":642357,"position":3},"title":"Central bank shuts 7 FX bureaus. PLUS: News on East Qantara Dry Port, EasyPay cards, capital gains tax, PE firms","author":"enterpriseam admin","date":"27 December 2023","format":false,"excerpt":"The news slowdown continues, with not much happening on the home front.NBFS- CBE shuts down seven FX bureaus: The Central Bank of Egypt (CBE) has revoked the licenses of seven foreign exchange bureaus for not meeting the EGP 25-mn minimum capital requirement. The bureaus include Golden Marriott, Roxy International, Al\u2026","rel":"","context":"In &quot;Also on our Radar&quot;","block_context":{"text":"Also on our Radar","link":"https:\/\/enterpriseam.com\/egypt\/category\/also-on-our-radar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1780.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":616923,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/03\/13\/fx-inflows-outflows-inch-closer-to-normalcy\/","url_meta":{"origin":642357,"position":4},"title":"FX inflows, outflows inch closer to normalcy","author":"enterpriseam admin","date":"13 March 2024","format":false,"excerpt":"Float spurs influx of FX sales at the country\u2019s biggest FX bureaus","rel":"","context":"In &quot;FX WATCH&quot;","block_context":{"text":"FX WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/fx-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1100.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":595868,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/08\/08\/cbe-issues-regulations-for-foreign-currency-exports\/","url_meta":{"origin":642357,"position":5},"title":"CBE issues regulations for foreign currency exports","author":"enterpriseam admin","date":"8 August 2019","format":false,"excerpt":"REGULATION WATCH- CBE issues regulations for foreign currency exports: New banking regulations will require banks wanting to export and import foreign currency to apply for a 12-month license in January every year, according to a CBE statement (pdf) released yesterday. 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