The Central Bank of Egypt announced on Sunday that it will impose a temporary daily limit for withdrawals and cash deposits in bank branches to reduce the risks of the coronavirus, Al Arabiya reported.
The bank said that the daily limit for deposits and cash withdrawals in bank branches becomes $636 for individuals and $3,184 for companies.
The daily limit for deposits and cash withdrawals from ATM machines has been set at $318.
The central bank said the new measures aim to ensure protection and avoid crowding and gatherings, especially when salaries and pensions are paid, and in compliance with health and prevention instructions and safe distances, as approved by the World Health Organization.
The bank asked Egyptian dealers to reduce the use of banknotes and rely on bank transfers and the use of electronic payment methods such as bank cards and mobile phone wallets, which have become available to all.
All banks cancelled the expenses associated with the transfers and the use of electronic payment methods and tools in order to facilitate the process for citizens.
Egypt sets limits for withdrawals and deposits from banks due to coronavirus
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Egypt sets limits for withdrawals and deposits from banks due to coronavirus
- The bank said that the daily limit for deposits and cash withdrawals in bank branches becomes $636 for individuals and $3,184 for companies
- The central bank said the new measures aims to ensure protection and avoid crowding and gatherings
Morocco’s energy ministry puts gas pipeline project on hold
- The country’s natural gas demand is expected to rise to 8 billion cubic meters in 2027 from around 1 bcm currently, according to ministry estimates
RABAT: Morocco’s energy ministry said on Monday it has paused a tender launched last month for a gas pipeline project, without giving details on the reasons for the suspension.
The tender sought bids to build a pipeline linking a future gas terminal at the Nador West Med port on the Mediterranean to an existing pipeline that allows Morocco to import LNG through Spanish terminals and supply two power plants.
It also covered a section that would connect the existing pipeline to industrial zones on the Atlantic in Mohammedia and Kenitra.
“Due to new parameters and assumptions related to this project... the ministry of energy transition and sustainable development is postponing the receipt of applications and the opening of bids received as of today,” the ministry said in a statement.
Morocco is looking to expand its use of natural gas to diversify away from coal as it also accelerates its renewable energy plan, which aims for renewables to account for 52 percent of installed capacity by 2030, up from 45 percent now.
The country’s natural gas demand is expected to rise to 8 billion cubic meters in 2027 from around 1 bcm currently, according to ministry estimates.
