Regulatory Alerts2017-11-28
Added · Updated
Circular dated November 28, 2017 regarding the cancellation of the maximum limits for cash deposits and withdrawals for legal persons working in the import of non-essential goods
The circular cancels the maximum limits for cash deposits and withdrawals for legal persons engaged in importing non-essential goods, which were previously set at $10,000 per day, $50,000 per month for deposits, and $30,000 per month for withdrawals. These limits are abolished effective from the date of the circular, November 28, 2017. Banks are instructed to take necessary action to implement this change.
Cairo: November 28, 2017
Dear Chairman of the Board,
Tahia Tiba Bank
Greetings,
With reference to paragraph (3) of the circular letter dated November 3, 2016, regarding the continuation of the maximum limits for cash deposits and withdrawals for legal persons working in the field of importing non-essential goods, at a rate of 10,000 US dollars during the day and a maximum of 50,000 dollars during the month for deposits and 30,000 dollars for withdrawals, please be informed that it has been decided to cancel the aforementioned maximum limits.
Effective from its date. Please be kind enough to alert regarding taking the necessary action in this regard.
Please accept my highest respect.
Tarek Amer