CAIRO, March 29 (Xinhua) -- The Central Bank of Egypt (CBE) on Sunday set new temporary limits for daily cash withdrawals and deposits for businesses and individuals as a precautionary effort to fight the spread of COVID-19.

In a statement, the CBE said the daily limit for deposits and cash withdrawals for individuals is 10,000 Egyptian pounds (636 U.S. dollars) and 50,000 pounds for companies.

The limits exclude companies from withdrawing the necessary amounts to pay the salaries for employees.

The bank has also decided to set a 5,000 pounds daily limit on ATM deposits and cash withdrawals.

The CBE called for reducing dealing with cash, urging for the use of bank transfers and electronic payment methods such as bank cards and mobile phone wallets.

Egypt, a country with a population of around 100 million, has confirmed 576 COVID-19 cases, including 36 deaths.

The country has been recently taking strict preventive measures to curb the spread of the novel coronavirus, including night-time curfew, temporary closure of schools and universities, suspending flights, reducing employees and sterilizing public transport vehicles, government offices, hotels and tourist attractions.

Egypt also temporarily shut down mosques and churches nationwide, while coffee shops, clubs, malls, restaurants and other entertainment places were told to close from dusk to dawn over coronavirus concerns. Enditem

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