End gag on foreign businesses, Egypt’s CB told

Ahmed al-Wakil, head of the General Union of Chambers of Commerce in Egypt has called on the central bank to end the gag on foreign businesses by reviewing its decision on money flowing in and out of the country.Wakil said on Thursday that foreign companies operating in Egypt are unable to transfer their 2014 profits abroad due to the decisions taken by the Central Bank in February regarding foreign currency exchange policies.

He added that new Central Bank Governor, Tarek Amer, should review those decisions for importers to be able to import goods and pay off their foreign debts.