Regulatory Alerts2024-12-29
A circular dated December 29, 2024 regarding increasing the maximum limits for dealing in financial inclusion accounts
In a letter dated December 29, 2024, the Chairman of the Board of Directors of a bank in Cairo, Egypt, announces an increase in the daily and monthly transaction limits for financial inclusion accounts. This decision, made in coordination with the Anti-Money Laundering and Terrorist Financing Unit, aims to facilitate financial transactions and include targeted categories in the banking system. The new limits vary based on the type of account holder, such as individuals, micro-enterprises, and small businesses, with specific maximum limits set for account balances, daily transactions, and monthly transactions.