URGENT: CBE denies issuing new rules for cash withdrawal

The Central Bank of Egypt (CBE) confirmed on Wednesday in a statement a short while ago that no new instructions have been issued regarding cash withdrawals.

The instructions issued on August 25, 2022, regarding increasing the daily maximum limit for cash withdrawals for individuals and companies from 50,000 Egyptian pounds to 150,000 Egyptian pounds, are still in force, the bank added.

The bank explained that this comes to consolidate the principle of financial inclusion and is consistent with international practices in this regard to motivate bank customers to use non-cash payment methods, which include transfers and various electronic payment methods and tools available at all banks.
The bank calls for caution when trading any news related to the Central Bank of Egypt or the banking sector.