The General Federation of Chambers of Commerce, warned any company to buy or sell in the Egyptian market in any other currency except the Egyptian pound in accordance with Article 111 of Law No. 88 for the year 2003, issued by the Central Bank of Egypt, and amended by Law No. 162 of 2004 and Law No. 93 of 2005.

Mr. Ahmed Al-Wakeel- President of the Federation, said that the law is clear and states that have to deal within the Arab Republic of Egypt in buying and selling goods and services in Egyptian pounds except for maritime freight. He appealed to all dealers to inform the Union for any violations In order to take appropriate legal actions, stressing that it is time to restore discipline to the Egyptian market and due respect to the national currency.

He pointed out that the Federation is closely following the development of implementing new monetary instructions on the exchange rate with all stakeholders as well as to follow up technical bodies at chambers of commerce. In addition to that the federation puts the mechanisms of supporting these bodies and ensuring their success which will have a positive and clear impact on the Egyptian economy, noting that there is a significant breakthrough in providing foreign exchange required for importing production requirements as well as key commodities for the Egyptian market.