The Central Bank of Egypt (CBE) increased the maximum limits through the moment payment network InstaPay and banking applications from LE 50,000 to LE 70,000.
The Central Bank added in a statement on Thursday that the daily maximum value of transactions was increased from LE 60,000 to LE 120,000. While the monthly maximum value of transactions went from LE 200,000 to LE 400,000 from March 15, 2023.
Transaction data from the national instant payment system showed an increase in values and the number of instant transactions.
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This is an obvious reflection of the need to increase daily and monthly limits on transactions in order to accommodate different segments and usage scenarios, the CBE said.
In March 2022, the Central Bank of Egypt announced the official launch of the national instant payment system InstaPay for banking sector customers: enabling financial transactions to be carried out electronically and instantly.
The move was implemented as part of the digital transformation strategy of the banking sector in Egypt.
