Last week, the Egyptian Customs Authority set a maximum of 150 grams of gold, equivalent to 10,000 dollars, to be allowed to enter Egypt per passenger.
This comes in light of the gold price hikes in Egypt that has significantly rose beyond the international prices of gold, which comes as a result of the current escalating inflation environment that led many Egyptians to resort to gold as a safe savings vessel, and accordingly, providing a solution to citizens seeking legal ways to have cheaper gold from abroad within personal use.
Meanwhile, Cairo airport customs called on all passengers to disclose their gold, whether jewelry or bullion upon their arrival at the airport, to avoid charges of smuggling. He explained that citizens concealing their possession will be charged with tax evasion and forced to pay customs fees, which is about 24% of the gold price.
Dr. Maged Mousa, Director General of Cairo Airport Customs, has recently said that women wearing gold jewelry as social status and in reasonable quantities are exempted from customs as it is not commercialized.
