Egyptian banks impose stricter cash withdrawal limits abroad amid FX shortage

The lenders include Al Baraka Bank Egypt and the Egyptian Gulf Bank (EG Bank)

Staff Writer, Arab Finance

January 17, 2024

PHOTO

Five Egyptian banks have imposed new restrictions on cash withdrawals and spending abroad amid the worsening foreign currency crisis, Bloomberg reported.

The lenders include Al Baraka Bank Egypt and the Egyptian Gulf Bank (EG Bank).

Earlier, the Commercial International Bank (CIB), Abu Dhabi Islamic Bank (ADIB Egypt), and First Abu Dhabi Bank Misr (FABMISR) trimmed the daily and monthly cash withdrawal limits to $50.

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