Banks in Egypt to increase daily withdrawal limits

The Federation of Egyptian Banks has agreed with the Central Bank of Egypt to increase limits on daily withdrawals from the beginning of Ramadan, the federation chairman said.

The daily limit for individuals would be 50,000 Egyptian pounds ($3,186.74) instead of 10,000 and ATM withdrawals will increase to 20,000 pounds from 5,000 pounds, Mohamed Eletreby, who is also the chairman of Egypt’s second-largest state bank, added.