Egyptian Banks Expand Foreign Currency Credit Card Limits

A number of Egyptian banks - including Banque Misr, the National Bank of Egypt (NBE) and Commercial International Bank (CIB) - have announced significant enhancements to their foreign currency credit card services.

Banque Misr will increase foreign currency credit card limits by 50% and reduce transfer commissions to 5%. This adjustment allows top-tier cardholders to spend up to USD 6000 monthly outside Egypt.

Similarly, the National Bank of Egypt has implemented a 50% increase in foreign currency credit card limits and reduced transfer commissions to 5%.

CIB, Egypt's largest private bank, has raised spending limits on all its credit cards, both domestically and internationally, and reduced foreign exchange rate margins to 5%, effective from June 26th.

These measures aim to facilitate international transactions for customers and enhance competitiveness in the banking sector.