Thursday July 25th, 2024
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Egyptian Banks Expand Foreign Currency Credit Card Limits

Banque Misr, the National Bank of Egypt and Commercial International Bank have announced changes to foreign currency credit card services.

Cairo Scene

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.

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