Suez Canal expects return to normal traffic by mid-2026 as Maersk, CMA CGM return    Gaza death toll rises as health crisis deepens, Israel's ceasefire violations continue    Turkey's Erdogan to visit Egypt in early 2026 as Cairo pushes for Palestinian technocratic committee    Egypt's "Decent Life" initiative targets EGP 4.7bn investment for sewage, health in Al-Saff and Atfih    Egypt, Spain discuss cooperation on migration health, rare diseases    Egypt, Oman eye deeper industrial integration through Sohar Port    Egypt, Armenia sign cooperation protocol to expand trade and investment    Three Chinese firms to invest $1.15bn in Egypt's Sokhna industrial zone    Egypt, Viatris sign MoU to expand presidential mental health initiative    Gold, silver rise on Tuesday    Oil prices dip on Tuesday    URGENT: IMF reaches staff-level deal with Egypt on fifth, sixth reviews    Egypt signs EGP 500m deal with Titan to build three waste treatment facilities in Sharqeya    Egypt's PM reviews rollout of second phase of universal health insurance scheme    Egypt sends medical convoy, supplies to Sudan to support healthcare sector    Egypt sends 15th urgent aid convoy to Gaza in cooperation with Catholic Relief Services    Al-Sisi: Egypt seeks binding Nile agreement with Ethiopia    Egyptian-built dam in Tanzania is model for Nile cooperation, says Foreign Minister    Al-Sisi affirms support for Sudan's sovereignty and calls for accountability over conflict crimes    Egypt flags red lines, urges Sudan unity, civilian protection    Egypt unveils restored colossal statues of King Amenhotep III at Luxor mortuary temple    Egyptian Golf Federation appoints Stuart Clayton as technical director    4th Egyptian Women Summit kicks off with focus on STEM, AI    UNESCO adds Egyptian Koshari to intangible cultural heritage list    UNESCO adds Egypt's national dish Koshary to intangible cultural heritage list    Egypt recovers two ancient artefacts from Belgium    Egypt, Saudi nuclear authorities sign MoU to boost cooperation on nuclear safety    Giza master plan targets major hotel expansion to match Grand Egyptian Museum launch    Australia returns 17 rare ancient Egyptian artefacts    Egypt warns of erratic Ethiopian dam operations after sharp swings in Blue Nile flows    Egypt golf team reclaims Arab standing with silver; Omar Hisham Talaat congratulates team    Egypt launches Red Sea Open to boost tourism, international profile    Sisi expands national support fund to include diplomats who died on duty    Egypt's PM reviews efforts to remove Nile River encroachments    Egypt resolves dispute between top African sports bodies ahead of 2027 African Games    Germany among EU's priciest labour markets – official data    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



CBE temporarily regulates cash deposits, withdrawals
CBE sets daily limit for cash deposits, withdrawals in branches of EGP 10,000 for individuals, EGP 50,000 for companies
Hossam Mounir Published in Daily News Egypt on 29 - 03 - 2020

The Central Bank of Egypt (CBE) has temporarily set a daily limit on deposits and cash withdrawals at bank branches nationwide due to the coronavirus outbreak. The measures mean that individuals will be able to withdraw EGP 10,000 maximum per day and companies EGP 50,000. The decision excludes companies withdrawing the necessary amounts to pay salaries.
The CBE has also put a daily limit of EGP 5,000 on cash deposits and withdrawals from ATMs, whilst emphasising that banks periodically sterilise and disinfect these machines.
The CBE said in a statement, Sunday, the move comes as part of the state's measures to protect the health and safety of citizens and reduce the risks of contracting coronavirus.
The measure comes in compliance with health, prevention, and social distancing instructions as approved by the World Health Organization, the CBE added. It is also aimed at continuous monitoring and daily follow-up of transactions with banks.
Whilst emphasising its confidence in citizen awareness of coronavirus, the CBE has called on Egyptians to reduce dealings in banknotes and to rely more on bank transfers. It also recommended using electronic payment methods, such as plastic money and mobile wallets, which have become widely available.
All banks have cancelled fees associated with electronic payments, to help ease the situation on citizens.

Clic here to read the story from its source.