King Mohammed VI parliament speech

Libya: UN to convene fresh talks as US pushes for political resolution

The United Nations is set to call for a new round of negotiations aimed at advancing efforts to resolve Libya’s prolonged political crisis, according to Massad Boulos, Senior Advisor to the US President for African Affairs. Speaking to Bloomberg on Monday from Rome, Boulos said the United States is working in parallel to reunify key […]

Egypt scraps requirement for letters of credit for imports

The Central Bank of Egypt (CBE) abolished a February 2022 circular requiring the use of letters of credit for imports, and allowed the use of collection documents instead, Arab Finance reports. The CBE in a late December circular scrapped the letter of credit which provides an irrevocable guarantee to the exporter that the importer’s bank […]

Morocco implements major defense trade reforms

Morocco’s Customs and Indirect Taxes Administration has unveiled comprehensive regulations governing defense materials, weapons, and ammunition trade, establishing strict frameworks while facilitating essential commercial flows for the national defense industry. The new circular, based on Law 10-20 of 2020, creates three distinct material categories with specific regulatory requirements. Category A covers exclusively military equipment including […]