CAIRO - 15 April 2024: The Central Bank of Egypt (CBE) has issued new guidelines to banks, to increase the maximum cash withdrawal limits for individuals and companies to reach LE 250,000 per day.
In addition, the maximum cash withdrawal limit from ATMs has been increased from LE 20,000 to LE 30,000. Previously, the daily withdrawal limit from bank branches was set at LE 150,000.
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 percent, 28.25 percent, and 27.75 percent, respectively.
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