2017-06-14

A circular dated June 14, 2017 regarding canceling the maximum limit on transfers abroad

In a letter dated June 14, 2017, the Chairman of the Board of Directors of a bank in Cairo, Egypt, writes to inform the recipient of a decision made by the Egyptian Central Bank to remove the cap on the amount of money that banks can transfer abroad for their clients, which was previously set at $100,000 per client per year. This change is intended to support and facilitate banking transactions and meet the needs of customers, while still adhering to the Central Bank's instructions on customer identification rules. The letter concludes with respectful regards from Tarek Amer.

Egypt

Central Bank of Egypt

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