Egypt Bans Tourism Companies from Dealing in Foreign Currencies

Egyptian media revealed, citing sources within the Chamber of Tourism Companies, that inspection campaigns are being launched on companies from five agencies, primarily the Ministry of Tourism, to ensure they exclusively deal with clients in Egyptian pounds. The source added that the inspections focus on ensuring all clients are served in Egyptian pounds and that transactions in foreign currency are not permitted, noting the approach to banks for foreign currency withdrawals before transacting in Egyptian pounds with the desired company. The source indicated that any tourism company that violates these instructions will face penalties, including the suspension or revocation of the company's license.