The Central Bank of Egypt (CBE) on Thursday abolished the maximum deposit limit for both individuals and companies in banks operating in Egypt, raising the maximum daily cash withdrawals for individuals and companies by 200% to EGP 150,000 per day, according to a letter from the Central Bank of Egypt.
The Central Bank of Egypt had decided in April 2020 to set a daily maximum limit for withdrawals and cash deposits for individuals to 50,000 pounds, and the move was then aimed at controlling inflation and hoarding funds during the spread of the Coronavirus
