Regulatory Alerts2016-03-08
Added · Updated
Circular dated March 8, 2016 regarding the cancellation of the maximum limit on cash withdrawals and deposits in foreign currency for natural individuals
The circular cancels the maximum limits on cash withdrawals and deposits in foreign currencies specifically for natural individuals, while maintaining the existing limits for legal persons. This decision takes effect from the date of the circular, and recipients are instructed to take necessary measures to implement the decision immediately.
Cairo: March 8, 2016
Mr. Chairman of the Board of Directors Bank
With reference to the instructions issued regarding the maximum limits for cash deposits and withdrawals in foreign currencies, I would like to inform you that it has been decided to cancel the aforementioned maximum limits for natural individuals only, while keeping the maximum limits currently in force for legal persons.
Please be so kind as to alert regarding the need to take the necessary action to implement the aforementioned decision effective from its date.
Accept my highest regards,
Tarek Amer