{"id":649844,"date":"2017-03-09T04:20:38","date_gmt":"2017-03-09T04:20:38","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2017\/03\/09\/banks-to-notify-cbe-before-sourcing-foreign-currency-to-govt-entities\/"},"modified":"2017-03-09T04:20:38","modified_gmt":"2017-03-09T04:20:38","slug":"banks-to-notify-cbe-before-sourcing-foreign-currency-to-govt-entities","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2017\/03\/09\/banks-to-notify-cbe-before-sourcing-foreign-currency-to-govt-entities\/","title":{"rendered":"Banks to notify CBE before sourcing foreign currency to gov\u2019t entities"},"content":{"rendered":"<p>The central bank has sent a directive to all banks requiring them to notify it every time they are tasked with sourcing foreign currency to any government entity or their suppliers. The central bank says this directive follows a decision by Prime Minister Sherif Ismail.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The central bank has sent a directive to all banks requiring them to notify it every time they are tasked with sourcing foreign currency to any government entity or their suppliers. The central bank says this directive follows a decision by Prime Minister Sherif Ismail.<\/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":[9298],"tags":[2372,72],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-649844","post","type-post","status-publish","format-standard","hentry","category-banking-finance","tag-banking-finance","tag-enterpriseam","wpautop","entry"],"acf":{"mongo_id":"fcb4e926-1c24-4312-9372-68e10efd676e","order":"0","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[649810],"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>Banks to notify CBE before sourcing foreign currency to gov\u2019t entities - 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\/03\/09\/banks-to-notify-cbe-before-sourcing-foreign-currency-to-govt-entities\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Banks to notify CBE before sourcing foreign currency to gov\u2019t entities\" \/>\n<meta property=\"og:description\" content=\"The central bank has sent a directive to all banks requiring them to notify it every time they are tasked with sourcing foreign currency to any government entity or their suppliers. The central bank says this directive follows a decision by Prime Minister Sherif Ismail.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2017\/03\/09\/banks-to-notify-cbe-before-sourcing-foreign-currency-to-govt-entities\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2017-03-09T04:20:38+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<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/03\/09\/banks-to-notify-cbe-before-sourcing-foreign-currency-to-govt-entities\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/03\/09\/banks-to-notify-cbe-before-sourcing-foreign-currency-to-govt-entities\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Banks to notify CBE before sourcing foreign currency to gov\u2019t entities\",\"datePublished\":\"2017-03-09T04:20:38+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/03\/09\/banks-to-notify-cbe-before-sourcing-foreign-currency-to-govt-entities\/\"},\"wordCount\":57,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"BANKING + FINANCE\",\"EnterpriseAM\"],\"articleSection\":[\"Banking + Finance\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/03\/09\/banks-to-notify-cbe-before-sourcing-foreign-currency-to-govt-entities\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2017\/03\/09\/banks-to-notify-cbe-before-sourcing-foreign-currency-to-govt-entities\/\",\"name\":\"Banks to notify CBE before sourcing foreign currency to gov\u2019t entities - EnterpriseAM Egypt\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\"},\"datePublished\":\"2017-03-09T04:20:38+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/03\/09\/banks-to-notify-cbe-before-sourcing-foreign-currency-to-govt-entities\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/enterpriseam.com\/egypt\/2017\/03\/09\/banks-to-notify-cbe-before-sourcing-foreign-currency-to-govt-entities\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/03\/09\/banks-to-notify-cbe-before-sourcing-foreign-currency-to-govt-entities\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/enterpriseam.com\/egypt\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Banks to notify CBE before sourcing foreign currency to gov\u2019t entities\"}]},{\"@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":"Banks to notify CBE before sourcing foreign currency to gov\u2019t entities - 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\/03\/09\/banks-to-notify-cbe-before-sourcing-foreign-currency-to-govt-entities\/","og_locale":"en_US","og_type":"article","og_title":"Banks to notify CBE before sourcing foreign currency to gov\u2019t entities","og_description":"The central bank has sent a directive to all banks requiring them to notify it every time they are tasked with sourcing foreign currency to any government entity or their suppliers. The central bank says this directive follows a decision by Prime Minister Sherif Ismail.","og_url":"https:\/\/enterpriseam.com\/egypt\/2017\/03\/09\/banks-to-notify-cbe-before-sourcing-foreign-currency-to-govt-entities\/","og_site_name":"EnterpriseAM Egypt","article_published_time":"2017-03-09T04:20:38+00:00","author":"enterpriseam admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"enterpriseam admin"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/enterpriseam.com\/egypt\/2017\/03\/09\/banks-to-notify-cbe-before-sourcing-foreign-currency-to-govt-entities\/#article","isPartOf":{"@id":"https:\/\/enterpriseam.com\/egypt\/2017\/03\/09\/banks-to-notify-cbe-before-sourcing-foreign-currency-to-govt-entities\/"},"author":{"name":"enterpriseam admin","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d"},"headline":"Banks to notify CBE before sourcing foreign currency to gov\u2019t entities","datePublished":"2017-03-09T04:20:38+00:00","mainEntityOfPage":{"@id":"https:\/\/enterpriseam.com\/egypt\/2017\/03\/09\/banks-to-notify-cbe-before-sourcing-foreign-currency-to-govt-entities\/"},"wordCount":57,"publisher":{"@id":"https:\/\/enterpriseam.com\/egypt\/#organization"},"keywords":["BANKING + FINANCE","EnterpriseAM"],"articleSection":["Banking + Finance"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/enterpriseam.com\/egypt\/2017\/03\/09\/banks-to-notify-cbe-before-sourcing-foreign-currency-to-govt-entities\/","url":"https:\/\/enterpriseam.com\/egypt\/2017\/03\/09\/banks-to-notify-cbe-before-sourcing-foreign-currency-to-govt-entities\/","name":"Banks to notify CBE before sourcing foreign currency to gov\u2019t entities - EnterpriseAM Egypt","isPartOf":{"@id":"https:\/\/enterpriseam.com\/egypt\/#website"},"datePublished":"2017-03-09T04:20:38+00:00","breadcrumb":{"@id":"https:\/\/enterpriseam.com\/egypt\/2017\/03\/09\/banks-to-notify-cbe-before-sourcing-foreign-currency-to-govt-entities\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/enterpriseam.com\/egypt\/2017\/03\/09\/banks-to-notify-cbe-before-sourcing-foreign-currency-to-govt-entities\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/enterpriseam.com\/egypt\/2017\/03\/09\/banks-to-notify-cbe-before-sourcing-foreign-currency-to-govt-entities\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/enterpriseam.com\/egypt\/"},{"@type":"ListItem","position":2,"name":"Banks to notify CBE before sourcing foreign currency to gov\u2019t entities"}]},{"@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\/"}]}},"featured_image_src":null,"featured_image_src_square":null,"author_info":{"display_name":"enterpriseam admin","author_link":"https:\/\/enterpriseam.com\/egypt\/author\/enterpriseam\/"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":652077,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/02\/28\/cbe-amends-what-banks-can-do-with-excess-foreign-currency-positions-says-a-quarter-can-be-used-for-profit-repatriation\/","url_meta":{"origin":649844,"position":0},"title":"CBE amends what banks can do with excess foreign currency positions, says a quarter can be used for profit repatriation","author":"enterpriseam admin","date":"28 February 2017","format":false,"excerpt":"Profit repatriation window opens a bit wider for foreign companies in Egypt: The Central Bank of Egypt has amended regulations on how banks can use their excess foreign currency balances, Al Mal reports. Banks can now use 50% of their excess currency to finance non-essential demand, 25% can be reinjected\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":601459,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/02\/28\/cbe-issues-guidelines-for-last-years-directive-requiring-banks-to-follow-ifrs-9\/","url_meta":{"origin":649844,"position":1},"title":"CBE issues guidelines for last year\u2019s directive requiring banks to follow IFRS 9","author":"enterpriseam admin","date":"28 February 2019","format":false,"excerpt":"The Central Bank of Egypt has issued guidelines for a previously announced directive requiring banks to begin presenting their financial statements in accordance with the IFRS 9 accounting standards, according to Amwal Al Ghad. According to the guidelines, banks following fiscal year (as opposed to calendar) reporting will be required\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":595868,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/08\/08\/cbe-issues-regulations-for-foreign-currency-exports\/","url_meta":{"origin":649844,"position":2},"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. The CBE said banks have six months from the date\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2018\/11\/1115.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":592038,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/12\/24\/central-bank-of-egypt-approves-misr-iran-banks-rebranding-as-midbank\/","url_meta":{"origin":649844,"position":3},"title":"Central Bank of Egypt approves Misr Iran Bank\u2019s rebranding as MIDBank","author":"enterpriseam admin","date":"24 December 2019","format":false,"excerpt":"The Central Bank of Egypt has approved a request from Misr Iran Development Bank to rebrand as MIDBank, an unnamed source told Masrawy. The rebranding aims to mitigate the impact on the bank\u2019s business from the US\u2019 sanctions on Iran, which has reportedly had a negative effect on the bank\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":571657,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/05\/19\/al-ezz-dekheila-steel-in-talks-with-local-banks-for-egp-3-bn-loan-to-finance-working-capital\/","url_meta":{"origin":649844,"position":4},"title":"Al Ezz Dekheila Steel in talks with local banks for EGP 3 bn loan to finance working capital","author":"enterpriseam admin","date":"19 May 2020","format":false,"excerpt":"Al Ezz Dekheila Steel is in talks with local banks for an EGP 3 bn facility to finance working capital, Al Shorouk reports, quoting unnamed banking sources; the facility would reportedly include a USD 100 mn foreign currency tranche.","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":578489,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/01\/02\/fra-tightens-controls-on-follow-on-lending-to-smes\/","url_meta":{"origin":649844,"position":5},"title":"FRA tightens controls on follow-on lending to SMEs","author":"enterpriseam admin","date":"2 January 2023","format":false,"excerpt":"DEBT-State-owned Assiut National Oil Processing Company (ANOPC) secured a USD 2.9 bn loan to finance its new hydrocracking complex, according to a statement by the National Bank of Egypt, which acted as financial advisor and agent for the transaction. The 12-year loan is being extended by a consortium of international\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\/1\/12.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/649844","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=649844"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/649844\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/649810"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=649844"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=649844"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=649844"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=649844"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=649844"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}