#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…
