Treasury & FX in Egypt

To produce our report on Treasury & FX in Egypt we brought together practitioners from the Middle East & Europe who shared their recent experiences with accessing hard currency, local funding, local and international banks, employee dividends, collections, T&E and mobile money.

The peer group discussion was chaired by Arnaud Francq.

This report was produced by Monie Lindsey.

The Key Take Aways appear below. The full report is in the report library.


  • For some of the peers, sourcing USD and getting cash out of Egypt has been a challenge revolving around access to dollar allocations. One peer was able to employ a combination of intercompany loans and dividends
  • The cost of borrowing in Egypt is exceptionally high (9- 10%)
    • One peer has increased dollar borrowing to offset USD exposure
  • Employees in Egypt are entitled to receive 10% of any local dividends issued which is on top of any employee benefit plans in place. One solution was to offer new employees the option of choosing the dividend or another employee benefit plan. Legal advice was divided on the legitimacy of the company’s actions
  • Cash and to a lesser extent, cheque payments still play a large role in the Egyptian market. Efforts to reduce cash and cheques are stymied by the market culture
    • The use of purchase cards for local expense payments is not widely accepted
    • Mobile money solutions have an individual transaction cap that is smaller than the average transaction
  • There is a distinct disparity between global and local banks regarding connectivity, controls, and platform capabilities

The full report is available to subscribers here.

Please get in touch if you would like to learn more about CompleXCountries.

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