The Central Bank of Egypt (CBE) has issued a directive instructing banks to support their exporting clients in complying with international sustainability standards during the production of exported goods, as per an official statement on Monday. The move comes in response to international measures such as the Carbon Border Adjustment Mechanism (CBAM), introduced by the European Union and the UK, which aim to reduce carbon emissions in imported goods by applying carbon pricing aligned with local benchmarks. Under the directive, banks are required to provide the CBE with a list of their exporting clients. This step aims to proactively manage risks associated with CBAM implementation and to strengthen banking sector stability. The directive also supports exporters in transitioning towards environmentally compliant production practices, in line with global standards. This is expected to boost access for Egyptian products in key markets and contribute to the country's broader strategy for sustainable economic development. Attribution: Amwal Al Ghad English Subediting: M. S. Salama
