Mon, 2020-03-30 02:30
CAIRO: Egyptian banks have been instructed to apply temporary limits on daily withdrawals and deposits in a move seemingly designed to control inflation and hoarding as concern grows over the spread of the coronavirus.
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.
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