Al-Etreby explained in a press statement that the decision on the limits of dollar withdrawals in Egyptian banks is left to the bank itself, adding that the Egyptian pound has previously agreed upon limits.
He pointed out that there are limits for withdrawing dollars in Banque Misr that will be presented to the Board of Directors, and will be announced during the coming week, adding that banks cannot give amounts exceeding 250 thousand pounds.
Exchange rate liberalization in March 2024
He stressed the strength of the Egyptian banking sector after the restructuring, emphasizing the good management of the Central Bank and the increase in the profits of the banking sector.
He pointed out that since the liberalization of the exchange rate in March 2024, remittances from Egyptians abroad have increased to normal rates, by 200% compared to the previous time, with the amounts being transferred to savings certificates in banks.
Daily and monthly cash withdrawal limit in foreign currencies
The Central Bank denied what was monitored regarding its request to banks to set a maximum limit for daily and monthly cash withdrawals in foreign currencies starting from September 1, 2024.
The Central Bank announced that in April 2024 it decided to increase the daily maximum limit for cash withdrawals in local currency to EGP 250,000 instead of EGP 150,000, and EGP 30,000 from ATMs instead of EGP 20,000, to facilitate transactions with banks.
The bank added that there is no truth to what was reported about banks asking to set a maximum limit for daily and monthly cash withdrawals in foreign currencies in September.
He called for the need to be accurate when circulating any inaccurate information related to the banking sector to avoid any negative repercussions that may affect the banking sector in particular and the national economy in general.
Source: Egyptian media
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2024-08-22 20:03:15
