The directive included raising the maximum limit for cash withdrawal from ATMs to EGP 30,000. It is worth noting that the daily maximum limit for cash withdrawals was EGP 150,000. Additionally, the daily withdrawal limit for ATMs was EGP 20,000.
The Central Bank of Egypt (CBE) directed banks to increase the maximum limit for cash withdrawal by individuals and companies, from bank branches to EGP 250,000 per day.
The directive included raising the maximum limit for cash withdrawal from ATMs to EGP 30,000. It is worth noting that the daily maximum limit for cash withdrawals was EGP 150,000. Additionally, the daily withdrawal limit for ATMs was EGP 20,000.
Earlier in March, The Central Bank of Egypt (CBE) instructed banks to open the limits for the use of credit cards in foreign currencies.
The CBE's directives come within the framework of a comprehensive economic reform program that is being implemented in coordination between the Central Bank and the government with the support of bilateral and multilateral partners, and after providing the necessary financing to support foreign exchange liquidity.
This came after a recent CBE decision to raise the overnight deposit rate, the overnight lending rate, and the rate of the main operation by 600 basis points to reach 27.25%, 28.25%, and 27.75%, respectively.
