You can now withdraw more from your bank account: The Central Bank of Egypt (CBE) has raised the daily limit that individuals and companies can withdraw from their bank accounts both at branches and via ATMs, it said in a circular (pdf) released yesterday.

The new limits: The daily limit on over-the-counter withdrawals has been set at EGP 250k for individuals and companies, up from EGP 150k. Meanwhile, the daily limit on ATM withdrawals now stands at EGP 30k, up from 20k. The limits were last raised in August 2022.

Call for action: The CBE urged local banks to update their internal policies in line with the new limits and to periodically update their maximum withdrawal policy for foreign currencies.

More liquidity in the local banking system: Egyptian banks saw their liquidity rise to EGP 9.1tn in February up from EGP 8.99 tn in January, according to the latest data from the central bank.

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