Egypt: CBE Sets Minimum Limit On Daily Cash Deposit, Withdrawal

The Central Bank of Egypt (CBE) decided on Sunday 29/3/2020 to set a minimum limit on daily cash deposit and withdrawal in all branches at 10,000 pounds for individuals and 50,000 for companies amid coronavirus fears.

The bank also decided to set a minimum limit on daily cash withdrawal and deposit through ATMs at 5,000 pounds in light of the periodical sterilization of all cash machines.

The decision, the bank said, is temporary in a bid to prevent the spread of novel coronavirus.

The decision runs in line with safety regulations announced by the World Health Organization that advises keeping social distancing and avoiding crowds.

It urged citizens to depend more on online payment instead of banknotes as a precautionary measure against coronavirus.

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