Egypt: CBE allows banks to set foreign currency withdrawal limits

This came as a response to circulated news that the CBE had asked banks to impose daily and monthly withdrawal limits in foreign currencies starting September 1st, 2024

Staff Writer, Arab Finance

August 22, 2024

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The Central Bank of Egypt (CBE) announced that banks can set their own policies for foreign currency withdrawal limits, with approval from their boards of directors.

This came as a response to circulated news that the CBE had asked banks to impose daily and monthly withdrawal limits in foreign currencies starting September 1st, 2024.

In April, the CBE raised the daily cash withdrawal limit in Egyptian pounds to EGP 250,000 instead of EGP 150,000, and increased the ATM withdrawal limit to EGP 30,000 from EGP 20,000.

However, no limits were set for foreign currency withdrawals.

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