Cabinet agrees to stiffen punishment on forex rules violators
Cabinet agrees to stiffen punishment on forex rules violators
Cairo - Arab Today
The cabinet under Prime Minister Sherif Ismail on Wednesday approved a bill stipulating a harsher punishment for those who practice foreign currency activities outside banks and legitimate channels.
The bill aims at facing illegal practices of some exchange companies that negatively affected national economy and the stability of the banking sector.
Those who violate such provisions will be imprisoned for not less than six months and will be fined not less than one million pounds.
Source: MENA
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