Cairo - Mubasher: The Central Bank of Egypt (CBE) has decided to lift all the barriers on transferring foreign exchange abroad.

The CBE added in a statement on Wednesday that it has lifted all limits of foreign currency transfers, which previously stood at $100,000 per year.

The statement noted that the decision was applied before as in exception for import transfers, foreigners’ receivables, and transfers by foreign companies operating in Egypt.

The governor of the CBE, Tarek Amer, said that the decision comes as part of the economic reform plan launched last year.

Amer added that the decision will help attract more foreign investments and savings from Egyptians abroad.