The Central Bank of Egypt (CBE) has denied recent rumors suggesting that banks will be required to impose daily and monthly withdrawal limits on foreign currencies starting from September.
In a statement carried by Cairo News Channel, the Central Bank clarified that these claims are unfounded.
The bank emphasized that it had previously increased the daily withdrawal limit for domestic currency from ATMs to LE30,000 in April, up from the previous limit of LE20,000.
The Central Bank urged the public to verify information before disseminating it, particularly regarding the banking sector, as misinformation can have detrimental effects on both the banking industry and the national economy.
The CBE further explained that individual banks have the autonomy to determine their own policies regarding foreign currency exchange limits, subject to approval by their respective boards of directors.
