{"id":325947,"date":"2022-08-07T14:10:03","date_gmt":"2022-08-07T14:10:03","guid":{"rendered":"https:\/\/egy-africa.com\/en\/?p=325947"},"modified":"2022-08-07T14:10:03","modified_gmt":"2022-08-07T14:10:03","slug":"imported-goods-almost-stopped-since-march-importers-division","status":"publish","type":"post","link":"https:\/\/egy-africa.com\/en\/2022\/08\/07\/imported-goods-almost-stopped-since-march-importers-division\/","title":{"rendered":"Imported goods almost stopped since March: Importers Division"},"content":{"rendered":"

Import operations of finished goods have been halted completely since March after the Central Bank of Egypt\u2019s (CBE) decision to cancel dealing with documentary collections and replace them with documentary credits, according to Matta Bishai \u2014 Head of the Internal Trade Committee of the General Division of Importers.<\/span><\/p>\n

Bishai said that importers in the Egyptian market are currently suffering and that their stock is nearly exhausted.<\/span><\/p>\n

The CBE suspended documentary credits last March to stop dealing with documentary collections in import operations. Documentary credits were the result of transactions between importers\u2019 banks and exporters\u2019 banks, provided that the banks in importers and exporters\u2019 countries were the link to complete the entire import process.<\/span><\/p>\n

Bishai added that there is a severe shortage in most finished goods in the local market as a result of the almost complete halt in import operations, especially for finished goods of sanitary wares, electrical appliances, household appliances, office tools, wood, furniture, toys, and auto parts.<\/span><\/p>\n

Furthermore, he said that the division received many complaints in various commercial sectors about their inability to import and bring in new goods since last March until now, which hiked prices by about 20 to 45%.<\/span><\/p>\n

He suggested that hard currency be accepted from importers with official receipts from exchanges in order to quickly open documentary credits for imports and to quickly release goods in ports.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Import operations of finished goods have been halted completely since March after the Central Bank of Egypt\u2019s (CBE) decision to cancel dealing with documentary collections and replace them with documentary credits, according to Matta Bishai \u2014 Head of the Internal Trade Committee of the General Division of Importers.<\/p>\n","protected":false},"author":4,"featured_media":320045,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[22,33],"tags":[270],"class_list":["post-325947","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking","category-main","tag-egyptian-exports"],"yoast_head":"\nImported goods almost stopped since March: Importers Division - egy-africa<\/title>\n<meta name=\"description\" content=\"Import operations of finished goods have been halted completely since March after the Central Bank of Egypt\u2019s (CBE) decision to cancel dealing with documentary collections and replace them with documentary credits, according to Matta Bishai \u2014 Head of the Internal Trade Committee of the General Division of Importers.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/egy-africa.com\/en\/2022\/08\/07\/imported-goods-almost-stopped-since-march-importers-division\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Imported goods almost stopped since March: Importers Division - egy-africa\" \/>\n<meta property=\"og:description\" content=\"Import operations of finished goods have been halted completely since March after the Central Bank of Egypt\u2019s (CBE) decision to cancel dealing with documentary collections and replace them with documentary credits, according to Matta Bishai \u2014 Head of the Internal Trade Committee of the General Division of Importers.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/egy-africa.com\/en\/2022\/08\/07\/imported-goods-almost-stopped-since-march-importers-division\/\" \/>\n<meta property=\"og:site_name\" content=\"egy-africa\" \/>\n<meta property=\"article:published_time\" content=\"2022-08-07T14:10:03+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/egy-africa.com\/en\/wp-content\/uploads\/2020\/12\/16517.jpg?fit=628%2C378&ssl=1\" \/>\n\t<meta property=\"og:image:width\" content=\"628\" \/>\n\t<meta property=\"og:image:height\" content=\"378\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Aya Abdulghany\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Aya Abdulghany\" \/>\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\":\"WebPage\",\"@id\":\"https:\/\/egy-africa.com\/en\/2022\/08\/07\/imported-goods-almost-stopped-since-march-importers-division\/\",\"url\":\"https:\/\/egy-africa.com\/en\/2022\/08\/07\/imported-goods-almost-stopped-since-march-importers-division\/\",\"name\":\"Imported goods almost stopped since March: Importers Division - 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