Mohamed el Mohandes, the chairman of the engineering industries' chamber, has praised a decision by the Central Bank of Egypt (CBE) to cancel a maximum limit for transferring foreign currencies outside Egypt. 

It is a positive move, Mohandes said in statements to MENA Saturday, believing it sends a reassuring message to foreign investors and encourages them to pump investments into the local market. 

It is also a sign of a rebounding Egyptian economy, he added.