The National Bank reveals new details about raising the limit for Visa withdrawals outside Egypt

08:44 PM

Saturday 09 March 2024

Yahya Abu Al-Futouh, Vice Chairman of the Board of Directors of the National Bank

Written by Dalia Al-Dhanini:
Yahya Abu Al-Futouh, Vice Chairman of the Board of Directors of the National Bank, confirmed that all financial institutions were awaiting the decision to liberalize the exchange rate, saying: “Every bank knows the impact of the decisions on it.”

He added, during a phone call to the “Hazrat Al-Muwatin” program broadcast on “Al-Hadath Al-Youm” satellite channel, on Saturday evening: The unification of the exchange rate had to be followed by some kind of monetary tightening, which required collecting money from the market, noting that new savings vessels had been introduced.

He stressed that the savings vouchers offered in the market are diverse and meet the needs of all customers, stressing that banks are able to provide customers with the foreign currency they need, as banks have made available very good amounts of foreign currency, which facilitates the process of releasing goods at the ports.

He explained that the black market will be eliminated when banks meet all customer requests, and this will happen soon, commenting: “A matter of time.”

Regarding the issue of raising the maximum limit on visas outside Egypt in banks, he said: Many banks have already begun increasing the amounts available and raising the limits according to the resources of each bank to facilitate exchange externally or internally, indicating that it will happen gradually with more resources and discipline in the market.

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