The Central Bank of Egypt (CBE) has announced an increase in the daily cash withdrawal limits. For bank branches, the limit has been raised to EGP 250,000 for both individuals and companies. Concurrently, the daily ATM withdrawal limit has been increased to EGP 30,000, up from the previous limit of EGP 20,000.
This adjustment marks the second instance of CBE enhancing withdrawal limits from bank branches, with the previous increment elevating the cap from EGP 50,000 to EGP 150,000.
In a communication to banks on Monday, CBE expressed that these measures are aimed at streamlining the cash withdrawal process for all parties involved.
CBE has emphasized the necessity for banks to revise their internal policies to be in sync with the new withdrawal ceilings. Moreover, the policy governing foreign currency cash withdrawals must be reviewed, endorsed by the Board of Directors, and subjected to periodic revisions.
