The Central Bank of Egypt (CBE) has scrapped controls on currency transfers abroad with the easing of Egypt’s long-running foreign exchange shortages and the rise in international reserves. Individuals will now no longer be restricted to a maximum of $100,000 once a year, under the strict controls placed by the CBE on the movement of foreign currency after the 2011 revolution in order to limit the flight of capital.

An acute shortage of foreign exchange strangled the economy in recent...