By 
The Central Bank of Egypt (CBE) has announced that banks can establish their own policies for foreign currency withdrawal limits, provided these policies receive approval from their boards of directors.
This decision follows widespread reports suggesting that the CBE had instructed banks to impose daily and monthly withdrawal limits on foreign currencies, effective from September 1st, 2024.
In an earlier move, the CBE increased the daily cash withdrawal limit in Egyptian pounds from EGP 150,000 to EGP 250,000 in April, while the ATM withdrawal limit was raised from EGP 20,000 to EGP 30,000.
However, the CBE has not imposed specific limits on foreign currency withdrawals, leaving it to individual banks to determine their own limits in accordance with their internal policies and governance structures.
Comments