Regulatory Alerts2022-08-25
A circular dated June 29, 2022 regarding extending the exemption of some banking services from commissions in light of the precautionary measures to confront the Corona virus.
Cairo, August 25, 2022 - Dear all, Below is a link to the circular issued on April 22, 2020 regarding the maximum limits for withdrawal and deposit of cash by individuals and companies either through bank branches or ATMs temporarily during the emergency measures taken to counter COVID-19 pandemic. Due to the continuing economic situation and efforts being made to ease it, the following has been decided: - Eliminating the upper limit on deposit transactions by individuals and companies at banks and ATMs. - Increasing the daily cash withdrawal limit for individuals and companies through bank branches from EGP 50,000 to EGP 150,000, with the daily limit for ATMs remaining at EGP 20,000. Please adhere to these arrangements starting from the date of issue. I appreciate your cooperation, and please accept my high esteem. Sincerely, Hassan Abd El Hakim