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Monday, 21 October 2019

Banque Misr restores normal purchase limits on cards abroad

The National Bank of Egypt (NBE), HSBC and the Commercial International Bank (CIB) have already restored maximum limits for their credit and debit card holders

Ahram Online , Wednesday 10 May 2017
Egypt
Egypt's Banque Misr
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Egypt's second largest public lender, Banque Misr, has restored the maximum cash withdrawal for its customers who use cards abroad as well as removing caps placed on purchase operations outside the country.
 
The bank raised the cash withdrawal limit from $300 to a maximum of $400 for classic cards, and from $400 to $500 for golden cards per day or month.
 
The bank's vice chairman, Akef El-Maghraby, affirmed that customers can use the cards to purchase without limitations abroad, starting Tuesday.
 
Banks in Egypt tightened credit card purchase limits outside the country amid a shortage in the greenback over the past year.
 
The National Bank of Egypt (NBE), HSBC and the Commercial International Bank (CIB) have already restored maximum limits for their credit and debit card holders outside the country.
 
Egypt's Central Bank decided 3 November 2016 to freely float the pound and raise key interest rates as part of a set of reforms aimed at alleviating a dollar shortage and stabilising the country's flagging economy.
 

 
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