Central Bank of Egypt sets new rules for using credit cards abroad

The Central Bank of Egypt (CBE) issued new rules for customers who do not provide proof of use for their credit cards abroad within 90 days from the date they used them.

The rules include suspending the cards and listing the customers on a platform by the Egyptian Credit Bureau i-Score and CBE’s credit registration system.

The rules also include banning the use of credit cards abroad for customers in the daily report by I-score. They will not get new credit cards or use them abroad.

CBE emphasized the importance of sending text messages to customers who do not submit the required documents within 90 days before suspending the cards.

CBE said that this is part of the controls for using credit cards for traveling abroad, issued on 29 October 2023.

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