Banking expert explains CBE’s decision on usage of credit cards abroad ...Egypt

Banking expert Mohamed Abdel-al explained that the Central Bank of Egypt’s decision to activate the maximum credit limit granted to the credit card for use abroad reflects the CBE and the banking sector’s interest to reduce the consumption of foreign exchange for non-strategic or unjustified purposes. The CBE said on Tuesday that there are those who misuse cards by making cash withdrawals from abroad without actually traveling. It decided to activate the maximum credit limit granted to the credit card for use abroad as soon as the customer contacts the customer service center of the card-issuing bank, and notifies them of their travel abroad. When the issuing bank receives a notification fro

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