Regulatory Alerts2017-06-14
Added · Updated
Circular dated June 14, 2017 regarding canceling the maximum limit on transfers abroad
The Central Bank of Egypt removes the previous maximum limit of 100,000 US dollars per client per year for outbound transfers, allowing banks to execute such requests without a cap effective immediately. This change is implemented to support and facilitate banking transactions and meet client needs, while banks must continue to adhere to the Central Bank's instructions regarding customer identification rules.