Forex trading is legal in Egypt and operates under a comprehensive regulatory framework established by the Central Bank of Egypt (CBE). The legal foundation for foreign exchange transactions is set forth in Law No. 88/2003, which governs the Central Bank, banking sector, and monetary operations (1). This legislation allows both individuals and businesses to hold foreign currency in Egypt and maintain local bank accounts denominated in foreign currencies.
The regulatory environment in Egypt ensures that forex trading occurs within legally recognized parameters while maintaining economic stability. Under the current legal framework, individuals can buy foreign currency and transfer it abroad, provided they comply with the established banking procedures (1). However, Egypt does not issue dedicated forex licenses to individual brokers, which means Egyptian traders typically rely on brokers licensed in foreign jurisdictions for additional security and oversight (2).
"Foreign exchange regulations fall under Law No 88/2003. According to this law, individuals and businesses can hold foreign currency in Egypt and can have local bank accounts denominated in foreign currency. Individuals can buy foreign currency and transfer it abroad."
The Central Bank of Egypt maintains strict oversight of all foreign exchange operations to ensure compliance with national monetary policy and economic stability. Banks and foreign exchange bureaux must obtain proper licensing to trade in foreign currencies and are required to submit detailed statements of all transactions to the CBE (2). This regulatory structure helps protect traders while ensuring that forex activities align with Egypt's broader economic objectives and maintain the stability of the Egyptian pound.
Source:
https://www.trade.gov/country-commercial-guides/egypt-trade-financing
https://market-bulls.com/is-forex-trading-legal-in-egypt/
Last updated: 01-06-2025 Disclaimer: This article does not provide legal advice. If you need legal advice, please contact an attorney directly.
