Central Bank of Egypt (CBE) raised the maximum daily withdrawal limit for individuals and companies from bank branches from LE50,000 to LE150,000.
Acting Governor of the CBE Hassan Abdullah issued a new periodic book abolishing as well the maximum limits for deposits for individuals and companies in bank branches and ATM machines.
According to the periodic book, the maximum daily withdrawal from ATM was kept at LE20,000.
Another periodic book was issued on April 22, 2020 temporarily limited the maximum for withdrawals for individuals and companies, whether through bank branches or ATMs, as part of precautionary measures to confront the coronavirus implications on the economy.
This decision is considered the first of its kind by Abdullah regarding the rules of deposit and withdrawal, and is the second decision he has taken after appointing Hisham Ezz al-Arab and Mohamed Negeeb as advisers to the governor of the Central Bank.
Abdullah had a friendly meeting on Thursday with the heads of banks and their deputies, at a large hotel, with the aim of welcoming Abdullah and addressing the most important issues in the banking sector.
Bankers confirmed to Al-Masry Al-Youm that the meeting was characterized by a friendly atmosphere in light of the strong relations that links Abdullah with the current and former heads of banks.
