Major exchange companies in Kuwait have completed their preparations to provide a service for transferring the value of dollar deposits to Egyptian residents wishing to export their cars to Cairo.
Sources told a local Arabic daily that the traditional transfers provided by exchange companies in Kuwait through the “online” systems do not comply with the requirements of the law on customs exemption for cars of Egyptians abroad in exchange for a dollar deposit, as it requires that it be deposited through a bank transfer only, which is what prompted companies to provide the transfer service through the “Swift” banking system available to Egyptians residing in Kuwait.
The sources indicated that the bank transfer process, which is compatible with the exemption law with exchange companies, costs $35 and paid once, which is equivalent to about 10.500 dinars, while some banks provide the service for free through their applications and some charge as much as 8 dinars, without calculating the commission of the intermediary bank.
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