2024-02-11

A circular dated February 11, 2024, supplementing the controls for using credit cards for purposes of traveling abroad

In a letter dated February 11, 2024, addressed to the Chairman of the Board of Directors of a bank in Cairo, Egypt, Mr. Tarek El-Wazzan emphasizes the importance of adhering to the guidelines for the use of credit cards for international travel. He references a previous circular dated October 29, 2023, which established regulations for the use of credit cards abroad and outlined the necessary actions to be taken in case of non-compliance. Mr. El-Wazzan reiterates that banks are required to block credit cards and report individuals who fail to comply with the regulations to the credit information company and the Central Bank's credit registration system.

Egypt

Central Bank of Egypt

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