Egypt raises daily limit for cash withdrawal to LE20K

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Wed, 22 Apr 2020 - 03:20 GMT

FILE: CBE

FILE: CBE

CAIRO – 22 April 2020: Federation of Egyptian Banks and the Central Bank of Egypt (CBE) agreed to raise the limit of cash withdrawals for individuals starting from the holy month of Ramadan, Chairman of the Federation and Banque Misr Mohamed El-Etreby said Wednesday.

According to El-Etreby, the withdrawal limits for individuals will be modified to be LE 20,000 per day via ATM machines, up from LE 5,000. He clarified that withdrawal limit in banks' branches will reach LE 50,000 instead of LE 10,000.


By the end of March, CBE decided to set a daily limit for deposits and cash withdrawals for a temporary period in banks' branches, at LE 10,000 for individuals and LE 50,000 for companies.

"Companies are excluded from this limit to be able to pay the dues of their employees," CBE said in a statement.

It also decided a daily limit for deposits and cash withdrawals from ATM machines at LE 5,000, indicating that the banks sterilize and disinfect those machines periodically.

This comes in the context of the state’s keenness on the health and safety of citizens and reducing the risks of coronavirus (COVID-19) with the aim of ensuring protection and avoiding crowding and gatherings, especially in the periods of withdrawing salaries and pensions.

Egypt sets daily limit for deposits, cash withdrawals temporarily

CAIRO - 29 March 2020: The Central Bank of Egypt (CBE) decided Sunday to set a daily limit for deposits and cash withdrawals for a temporary period in banks' branches, at LE 10,000 for individuals and LE 50,000 for companies.


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