Cairo - In a move to regulate liquidity, the Egyptian Central Bank has directed all banks in the country to implement a maximum daily withdrawal limit. The Central Bank has set the daily ceiling at EGP 150,000 per customer, regardless of whether this is from a single account or combined across multiple accounts. The bank confirmed that this limit applies to both cash withdrawals and checks, with no exceptions for exceeding this amount and all previous exemptions being revoked.
Under the new directives, if a customer insists on cashing a check or withdrawing an amount that exceeds the limit, the bank must submit the request to the Central Bank for approval twice daily, at 12 PM and 3 PM. This policy will be effective from Wednesday onwards. The measure is intended to regulate the financial market and promote economic stability.
