Cairo: The Central Bank of Egypt (CBE) has extended by one year the exemption allowing certain basic food commodities to be imported for trading purposes without providing 100% cash cover, until March 15, 2027. The move aims to support market stability and ensure the continued flow of essential food supplies.

According to State Information Service Egypt, the CBE announced that the decision covers three key commodities: rice, beans, and lentils. The measure enables importers to complete transactions for these goods without needing to provide full cash cover upfront, easing the financial burden on companies involved in the food trade.

The CBE emphasized that the exemption applies to all import operations for the specified commodities across all companies. Banks will continue to follow existing regulations, including conducting the required credit assessments for each client before processing import-related financing.