CBE increases monthly limit for micro-enterprises’ financial inclusion accounts to EGP600k/month

The Central Bank of Egypt (CBE) announced that it had raised the daily and monthly transaction limits for financial inclusion accounts, applicable to withdrawals, outgoing transfers, debits, and purchases.

For micro-enterprises with proper documentation, a registered location, or other verifiable means, the central bank will determine the maximum account balance. The daily transaction limit has been increased to 120,000 Egyptian pounds, up from 80,000 pounds, while the monthly limit has been raised to 600,000 pounds, up from 400,000 pounds.

For micro-enterprises or freelancers lacking documentation, their financial inclusion account balance will also be determined by the central bank, with the daily limit now set at 90,000 pounds, up from 60,000 pounds and the monthly limit at 300,000 pounds, up from 200,000 pounds.

Attribution: Amwal Al Ghad English