//Skip to content
Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors

#currency shortage

The Central Bank of Egypt (CBE) announced new regulations to credit card transactions in foreign currency, restricting use inside Egypt to facilitate using the full capacity of the card abroad, according to a statement issued on 17 October. The CBE cited “abuse” by people undertaking foreign currency withdrawals “without actually being abroad” as the reason for the move. Accordingly, domestic foreign currency spending limits will be decided by each bank, and the full credit limit of the card can only…