Featured image via Mena Bytes

In light of the current Coronavirus situation, the Central Bank of Egypt just announced new capital controls to help reduce crowds flocking to receive their salaries. The safety precaution is, however, temporary and will apply as of today and until further notice.

The new capital controls include maximum daily deposits and withdrawals of EGP 10,000 and 50,000 for individuals and corporations respectively, with an exception for employee-related payments. There is also a maximum ATM deposit or withdrawal of EGP 5,000 per day. 

The Central Bank of Egypt assures that ATMs will be regularly filled with enough banknotes to meet demand, especially during the period when citizens will be receiving salaries and pensions, in addition to the sanitisation of all machines on a regular basis.