Regulatory Alerts2025-08-12
Added · Updated
Cancellation of requirement to obtain proof of credit card use abroad for customers who communicated with the bank
The Central Bank cancels the requirement for banks to obtain proof of departure and arrival stamps from traveling customers who communicated with the bank to use their credit cards abroad. This exemption applies specifically to the obligation outlined in item No. 2 of the periodic book dated October 29, 2023. Banks retain the right to monitor credit card usage to verify it occurred while the customer was abroad. If a customer fails to submit documents proving such usage, the issuing bank must take the procedures stipulated in item No. 3 of the October 29, 2023 circular and adhere to the February 11, 2024 circular.
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Cairo, August 12, 2025
Mr. Professor/ Chairman of the Board of Directors
Bank
Greetings,
With reference to the periodic book issued on October 29, 2023, and amended on February 11, 2024, regarding strengthening
The control over the use of credit cards abroad, where some regulatory rules were determined in this regard, as well as
The procedures that must be taken in case of non-compliance with it.
In light of the Central Bank's follow-up of developments in this regard, it has been decided - for traveling customers who have
Communicated with the bank to use their cards abroad - cancel what is stated in item No. 2 of the periodic book dated
October 29, 2023, which states: "Follow up with the customer to obtain proof that the card was used while they were abroad,
This is done through departure and arrival stamps within a maximum period of 90 days from the date of opening usage limits, or whatever proves
The customer's continued presence abroad if the specified period is exceeded."
The bank has the right to follow up on customers’ use of credit cards to ensure that they were used while they were abroad, and in case of
The customer's failure to submit documents indicating this, the bank issuing the card must take the procedures stipulated in the item
No. (3) of the periodic book dated October 29, 2023, as well as adherence to what is stated in the periodic book issued on
February 11, 2024, referred to above.
Please kindly direct towards commitment to what is stated above.
And accept our sincere respect,
Hassan Abdullah
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Source: Central Bank of Egypt — original document
Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works
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