The decision taken by the Central Bank of Egypt (CBE) on 5 February to impose a limit on dollar deposits has resulted in losses for most Egyptian importers.

The move restricts the supply of US dollars in banks, making it harder for importers to find the cash they need to pay their overseas debts. The measure is aimed at preventing speculators from hoarding dollars in the form of deposits.

Individuals and companies are now permitted to deposit a maximum daily amount of $10,000, and not more than $50,000 a month.

Mr. / Hassan Mekkawy - member of the Board of exporters and importers Division at the General Union of Chambers of Commerce had expected that the central bank works to reconsider its decision so as to achieve a breakthrough in the market and eliminates the bottleneck economy and contribute to the growth of dollar resources at banks, stressing that they do not demand the cancellation of the decision but to raise the value of the deposit limit to $ 200 thousand per month.

For his part, Mr. / Sameh Zaky, a member of Cairo Chamber of Commerce, and board member of the general Division at Federation of Chambers of Commerce, demanded the Governor of the Central Bank to listen to the importers 'complaints because of the decision.

He Called for unifying the procedures of granting dollar transparently and openly, , explaining that banks meet the needs of its customers  according to their connections to the customer and not the type of item.