CAIRO: The Central Bank of Egypt denied a transaction ban from Sudanese, Libyan or Syrian banks, an official source at CBE said on Thursday, reported Youm7.
Earlier this week, the CBE issued a publication asking local banks to apply regulations to counter money laundering and “funding terrorism” on any financial remittances or bank transactions with the banks and clients of the former countries.
A number of Egyptian banks refused Wednesday to receive transactions from bank clients abroad in countries including Qatar, Libya, Syria and Sudan. Waleed Helal, the chairman of Chemicals & Fertilizers Export Council, said in a Wednesday statement that the CBE had instructed them to do so, because these countries “did not commit to implement” an anti-money laundering law.
Helal added that due to the instructions of the CBE, some companies are facing problems in receiving transactions from some Arab and African countries.
The Arab Bank refused to complete a transaction from a Sudanese company to an Egyptian company, and the same Sudanese company made the transfer to Qatar National Bank (QNB) from the company’s account in Abu Dhabi, but they refused it as well.
Last February, a number of Saudi and European banks stopped transacting with some Sudanese banks, according to Sudan Tribune website.
The CBE has enrolled Qatar, Turkey, Yemen, Bahrain, and Libya in the list of countries that require extra caution from domestic banks, reported al-Maal website.