CBE Raises Monthly Withdrawal Limit for Individual Accounts to EGP 300,000

The Central Bank of Egypt (CBE) raised the monthly maximum limit for financial inclusion accounts for natural persons (individuals) to EGP 300,000 instead of EGP 200,000.

Maximum limits for financial inclusion accounts

According to a circular issued by the central bank, the daily maximum limit was raised to EGP 90,000 instead of EGP 60,000, explaining that the maximum account balance is determined by the bank.

The bank decided to increase the daily and monthly maximum limits for dealing with financial inclusion accounts only for withdrawals, outgoing transfers, deductions and purchases.

The central bank  also raised the maximum limit for micro-enterprises and establishments, that have documents or a headquarters or are verified using any other means, to a daily maximum of 120,000 instead of EGP 80,000, a maximum of EGP 600,000 per month instead of 400 thousand pounds.

As for micro-enterprises and establishments or owners of free professions and craftsmen that do not have documents or a headquarters or the ability to verify using any other means and are engaged in an economic activity and are included under the name of "economic activity", the daily maximum has reached EGP 90,000 instead of EGP 60,000, and the monthly maximum is EGP 300,000 instead of EGP 200,000.