2022-12-22

A circular dated December 22, 2022 regarding controls on the use of credit and debit cards and the management of currency for the purposes of traveling abroad

In a letter dated December 22, 2022, the Central Bank of Egypt alerts a bank's chairman to the misuse of credit and debit cards by clients who have not left the country. The bank is instructed to notify clients that using cards and obtaining currency for travel purposes without actually leaving Egypt is prohibited. The bank must also review a sample of card transactions made outside the country and currency requests for travel since December 1, 2022, and report any suspicious activity to the Central Bank.

Egypt

Central Bank of Egypt

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