MPs: Some amendments of CBE's law finalized to toughen penalties on black market traders

The joint committee from the legislative affairs panel and the economic affairs bureau committee at the House of Representatives finalized the bill, which was submitted by the government to amend the law of the Central Bank of Egypt and the banking sector. 

The amendments include prison for at least three years and a fine not less than one million pounds and not more than five million pounds for traders selling foreign currency outside the official exchange rate, the committee said in its report on Tuesday. 

The amendments also include prison sentences for individuals breaking the foreign exchange law, with jail terms not more than three months, it added.