Egyptian banks suspend usage of recently issued credit cards abroad for 6 months ...Egypt

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Several banks in Egypt have decided to stop the use of newly issued credit cards abroad for up to six months from the date of issuance, while other banks opted for up to three months instead. A banking source said that the decision applies to cards issued as of December 20, 2023. According to the source, this change is due to a noticeable increase in customer demand for issuing new credit cards, and the significant growth in the use of these cards abroad by some banks. The source added that the Central Bank of Egypt (CBE) recommended banks, in verbal instructions last week, to confront any abnormal usage leading to demand for foreign currency in unjustified ways. He noted that the CBE allows

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Last updated : 25 Dec 2023 clock 02:32 PM

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Egyptian banks suspend usage of recently issued credit cards abroad for 6 months ...Egypt

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