Egypt restricts foreign currency credit card use
Published on: Tuesday 17 October 2023
Egypt's central bank told commercial banks on Tuesday to restrict customers from using credit cards for transactions in foreign currencies both domestically and abroad, the second time in a week it has cracked down on plastic. Last week, the central bank told banks to suspend the use of Egyptian pound debit cards for purchases outside the country to stop a foreign currency drain. Now in oral instructions to banks it has extended restrictions to credit cards.
