Regulatory Alerts2016-02-22
Added · Updated
Circular dated February 9, 2016 regarding raising the maximum cash deposit disclosed at the airport
The Central Bank of Egypt permits banks to accept foreign currency cash deposits from natural persons arriving as travelers, provided the amount corresponds to what was declared upon entry at the airport. This authorization applies to deposits supported by proof of declaration stamped by the bank, effectively allowing deposits up to the declared amounts which may exceed the previous standard limits of 10,000 USD per day and 50,000 USD per month.
Topics
fx
payments
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