The Central Bank of Egypt (CBE) amends withdrawal limits via PSP apps participating in IPN

Reuters Images/Mohamed Abd El Ghany

Accordingly, the maximum limit of a transaction will be raised to EGP 70,000 from EGP 50,000

Staff Writer, Arab Finance

March 10, 2023

PHOTO

The Central Bank of Egypt (CBE) has amended the daily and monthly withdrawal limits through payment service providers (PSP) applications certified by the rules regulating participation in the Instant Payment Networks (IPN), according to a circular on March 9th.

Accordingly, the maximum limit of a transaction will be raised to EGP 70,000 from EGP 50,000.

The maximum daily value of transactions will be set at EGP 120,000, instead of EGP 60,000.

Meanwhile, the maximum monthly limit will be increased to EGP 400,000 per transaction from EGP 200,000.

The new withdrawal limits will be effective as of March 15th.

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