On Tuesday, Egypt's Central Bank told commercial banks to restrict customers from using credit cards for transactions in foreign currencies both domestically and abroad. This is the second time in a week it has cracked down on plastic transactions.
Last week, the Central Bank ordered banks to suspend the use of Egyptian pound debit cards for purchases outside the country, intent on stopping a foreign currency drain. Now, it has extended the restrictions to credit cards. Domestic transactions will now be limited to the equivalent of $250 a month.
Source: reuters.com