Eco
Within the framework of ongoing efforts to organize banking operations and protect the rights of dealers in local markets, the country's supreme monetary authorities issued important guidelines and instructions today, Saturday, regarding the file of traders' financial transfers that have reached the stage of execution maturity, as part of an integrated plan aimed at enhancing financial stability and ensuring the smoothness of commercial operations. The official financial institution explained in the context of its clarifications that it is closely monitoring and tracking all banking transactions carried out in the periods before and after the official currency valuation adjustments, while continuously auditing the extent of banking institutions' compliance with applicable regulations, in order to safeguard the interests of traders and customers alike and provide a suitable environment for their activities. The relevant authorities called upon all companies and individuals from the trading community whose financial transfers allocated to finance import operations met the executive maturity conditions before the seventh of October, two thousand twenty-six, to head towards their local banks to verify the completion of their transactions, stressing that the monetary institution had previously enhanced the account balances of those banks to ensure the full coverage of those transfers. It was also emphasized to monitor any potential delay and ensure that business owners are not burdened with any financial differences resulting from exchange rates for those transactions that were proven to have been purchased and covered according to previous mechanisms. In the same context, an official mechanism was announced to handle cases of delay or in the event that traders are subjected to unjustified additional financial demands, where the possibility of submitting complaints was made available through the electronic platform dedicated to complaints affiliated with the financial institution, or through correspondence via the official e-mail to ensure immediate follow-up with the concerned bank and address any problem that may face dealers. In conclusion, official authorities revealed intensive efforts underway in joint coordination with banks and electronic payment companies to create and launch qualitative banking cards exclusively dedicated to foreign trade purposes directed at small traders, with the aim of simplifying and facilitating their import financing operations in accordance with approved regulatory rules and controls.
