Cabinet approves draft bill regulating Foreign Exchange dealing for 2017

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Cabinet approves draft bill regulating Foreign Exchange dealing for 2017

The Council of Ministers approved Sunday the draft law on the regulations of dealing in Foreign Exchange in 2017 which presented by the Governor of the Central Bank, Hazem Abdul Gader . who expressed that
under this law, the penalty the illegal dealing of foreign exchange, has been increased from three to ten years imprisonment, while retaining the additional penalties related to fines and the confiscation of foreign exchange, the subject of the crime .

The bill was approved in principle and the Council of Ministers affirmed its intention to tighten the sentence and referred the draft bill to the Ministry of Justice for legal formulation .