Home MoneyBanks Egypt’s Central Bank restricts foreign currency credit card use

Egypt’s Central Bank restricts foreign currency credit card use

by Mennatullah Hamzawy
CBE

Egypt’s Central Bank (CBE) has announced new regulations on foreign currency credit card use, according to a statement on Tuesday.

Earlier this month, the bank directed the banks operating in Egypt to stop the use of EGP debit cards overseas for foreign currency withdrawal or payment transactions for an undetermined period.

The CBE’s decision came  as bid to overcome shortage of foreign currency.

 

You may also like

Leave a Comment