Regulatory Alerts2020-04-22
Added · Updated
Circular dated April 22, 2020 amending the maximum limits for cash withdrawals and deposits issued on March 29, 2020
The document amends the temporary maximum daily limits for cash withdrawals and deposits for individuals, setting the new limit at 50,000 Egyptian pounds at bank branches and 20,000 Egyptian pounds at ATMs. It requires banks to ensure the operational efficiency of ATM systems, maintain continuous cash supply to machines, and continue periodic cleaning and disinfection of all ATMs. These changes are effective as of the date of the circular, April 22, 2020.
Cairo: April 22, 2020 To: Chairman of the Board of Directors Bank
Greetings,
Further to the circular dated March 29, 2020, regarding the establishment of temporary maximum limits for daily cash withdrawal and deposit operations from bank branches and ATMs, and in order to facilitate citizens' needs to cover expenses for the holy month of Ramadan, it has been decided to amend the maximum daily limit for cash withdrawal and deposit operations for individuals to become 50,000 Egyptian pounds from bank branches, and 20,000 Egyptian pounds from ATMs.
I would like to reiterate the necessity of taking all necessary measures to ensure the operational efficiency of the ATM system, as well as the continuous replenishment of machines, in addition to the continued cleaning and disinfection of all machines by your bank on a periodic basis.
Please be kind enough to notify regarding the implementation of the aforementioned decision effective from its date.
Tarek Amer