2021-03-02

Circular dated March 24, 2021 regarding the explanatory memorandum on due diligence procedures and the rules governing financial inclusion.

The bank will limit the amount of cash that a client can deposit into their account. The daily and monthly limits are $30,000 and $100,000 respectively. In addition, the bank will monitor accounts to detect suspicious activity, including unusual large transactions or deposits. If a client's cash deposit exceeds these limits, the bank may change their account classification to one associated with high-risk money laundering or "maintaining existing accounts with updated information.

Egypt

Central Bank of Egypt

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