Egyptian banks have been instructed to apply temporary limits on daily withdrawals and deposits in a move seemingly designed to control inflation and hoarding during the coronavirus’ spread, according to a circular dated 29 March.
The daily limit for individuals would be 10,000 Egyptian pounds ($635) and 50,000 pounds for companies, a central bank statement said, though businesses will be exempt from the withdrawal limits if the money is used to pay employees.
The central bank has also limited daily ATM withdrawals and deposits to 5,000 pounds, it said in a statement.
Central bank governor Tarek Amer said on a talk show late on Sunday that 30 billion Egyptian pounds ($1.91 billion) have been withdrawn from banks in the past three weeks.
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
