The Central Bank of Egypt (CBE) stressed that banks need to fully comply with all instructions given by the Central Bank of Egypt (CBE) on March 6 and March 8 to regulate foreign exchange deposits. CBE said in a statement that it had monitored some individuals who made large cash FX deposits, and used them to import non-essential goods and products through companies, which is not in line with the recently-issued CBE’s restrictions. In March 2016, CBE had cancelled limits on FX deposit and FX withdrawals for individuals and companies related to the import of basic goods and products. The bank kept this limit as applicable to companies that import non-essential goods. (The Daily News Egypt)