The National Bank of Egypt (NBE) set the maximum withdrawal limit of dollars at USD1,000 for the bank’s customers in the second day of the Central Bank of Egypt (CBE)’s decision on freeing exchange rate, according to sources. The sources said that the bank had issued a statement to all branches to respond to customers’ requests for hard currency at no greater than USD 1,000 or equivalent in other foreign currencies without presenting any documents. In case of traveling, relevant documents have to be submitted. Following the EGP liberalisation, banks were allowed to extend working hours until 9:00 pm, as well as on weekends, for foreign currency dealings and the cashing of remittances of Egyptians abroad. CBE said there will be no limits on foreign currency deposits or withdrawal for both individuals and companies. However, it said, a previous cap of USD50,000 in cash deposits per month and USD30,000 in withdrawals per day for importers of non-essential goods will remain in place. (Al Mal)