Ministry of Finance said the enforcement of the monetary facilities endorsed recently by the Cabinet will be effective immediately following the issuance of the Central Bank of Egypt (CBE) law amendments of which the Cabinet is currently working out its bill.

The legislative amendments will allow the passengers arriving through Egyptian airports and harbors such as businessmen and tourist delegations to bring with them any amounts of foreign exchange.

In case such sums exceed $10,000 or its equivalent of foreign currencies, this must be stated in the customs disclosure statement, to be printed and distributed by the Ministry of Finance, the source added.

The new facilities also provide for allowing the passengers leaving Egypt to have the remainder of the sums stated in the customs disclosure statement, the source further noted, asserting that such amendments come within the government's keenness to encourage investments and the movement of tourism, especially for Arabs who used to have large sums of foreign exchange during their visits to Egypt.