The Central Bank of Egypt decided to set a daily limit for deposits and cash withdrawals at bank branches for a temporary period of 10 thousand Egyptian pounds for individuals and 50 thousand Egyptian pounds for companies.
According to Arabiya Net, the Central Bank made clear in a statement that this decision excludes companies from withdrawing what is necessary to pay the dues of their employees.
He also clarified that a daily limit for deposits and cash withdrawals from ATMs has been set at 5 thousand Egyptian pounds.
The central bank attributed this measure to the state agencies' keenness on the health and safety of citizens and the reduction of the risks of the emerging corona virus and the decisions it has taken which have witnessed a highly appreciated response.
He explained that this decision aims to ensure protection and avoid crowding and gatherings, especially during periods of salary and pension disbursement, and in compliance with health and prevention instructions, safe distances, and what was approved by the World Health Organization. p>
To this, he called on the dealers in Egypt to reduce dealing in banknotes and rely on bank transfers and the use of electronic payment methods such as bank cards and mobile phone wallets that have become available to everyone. >
All banks canceled the expenses associated with the transfers and the use of electronic payment methods and tools to facilitate the citizens.
