Regulatory Alerts2023-03-09
A circular dated March 9, 2023 amending the limits for transactions conducted through real-time payments network applications.
The President of the Central Bank of Egypt, Tarek Amer, announced an increase in daily and monthly limits for transactions within the national instant payment network. This follows data analysis showing an increase in activities and transactions through the system, indicating a need to raise daily and monthly transaction limits on applications such as PayPal. The new higher caps apply from 15 March 2023, with approval required from relevant regulatory bodies.
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payments