Beans
In 2015, the CBE required all importers to fully cover import letters of credit (LC) at banks at the time of opening them.
The decision to allow export came to eliminate the damage to companies that have export contracts, and that have achieved success in global markets during the past period, so that they do not have to pay penal conditions.
The decision stipulated permitting the export of quantities surplus to the needs of the local market and estimated by the Ministry of Supply and Internal Trade, and after the approval of the Minister of Trade and Industry.
The move falls within the framework of the precautionary measures taken by the State to address the impact of the spread of COVID-19, the ministry added.