CBE doubles daily bank withdrawal limit to LE500,000 amid telecom disruptions

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In response to ongoing technical difficulties affecting Egypt’s telecommunications network, the Central Bank of Egypt (CBE) announced on Tuesday, July 8, that it has temporarily raised the daily limit for cash withdrawals in local currency at bank branches from LE250,000 to LE500,000.

The move is aimed at easing financial transactions for both individuals and businesses impacted by the disruptions, which have created challenges in accessing banking services.

“This step aims to support the needs of individuals and businesses and ease the burden on clients amid recent technical challenges caused by disruptions in telecommunications services,” the CBE said in its official statement.

The temporary measure will remain in place until telecom networks across the country are fully restored. The CBE emphasised that this decision was made in light of the current exceptional circumstances and assured that it would continue monitoring the situation closely.

“The CBE affirms its full commitment to continued monitoring of the situation and taking all necessary measures to ensure the stability of the banking sector and facilitate services for citizens,” the statement added.

The decision has been welcomed by business owners and banking customers alike, particularly those dealing with large cash-based transactions who have faced operational delays due to the telecom issues.

The temporary increase is the latest in a series of rapid adjustments made by the CBE to safeguard the smooth operation of Egypt’s financial infrastructure and protect customer access to essential banking services.

The banking regulator reiterated that its primary goal remains maintaining sector stability and ensuring that Egyptian citizens continue to have uninterrupted access to their financial resources during this period of disruption.