Egyptian banks have set new limits for using their cards abroad to eliminate practices that drain the country’s foreign currency reserves.
The Arab African International Bank (AAIB) suspended the use of debit cards outside Egypt, setting new limits on withdrawals and purchases by credit cards abroad.
The AAIB’s new cash withdrawal limits from outside Egypt range between the equivalent of EGP 11,000 and EGP 33,000 per month and the purchasing limits between EGP 50,000 and EGP 200,000.
Banque Misr also set the new cash withdrawal and purchase limits from outside Egypt at a range $100 and $400.
Meanwhile, the National Bank of Egypt (NBE) set new purchase limits between EGP 10,000 and EGP 100,000.
The NBE also set new limits for cash withdrawal at the equivalent of EGP 2,500 – EGP 10,000.
