Egypt c.bank raises financial inclusion account limit to EGP 300k per month for individuals

The Central Bank of Egypt (CBE) announced on Sunday that it had raised the transaction limits for financial inclusion accounts. These updated limits apply to withdrawals, outgoing transfers, debits, and purchases, providing greater flexibility for individuals.

Under the new regulations, the daily transaction limit for individual accounts has increased to 90,000 Egyptian pounds, up from 60,000 pounds. Additionally, the monthly transaction limit has been elevated to 300,000 pounds, compared to the previous cap of 200,000 pounds. The maximum account balance for individuals will continue to be determined by the bank.

The move underscores the CBE’s commitment to enhancing financial accessibility, empowering individuals, and fostering economic growth by streamlining banking transactions for a broader segment of society.

Attribution: Amwal Al Ghad English