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CBE curbs credit card use amid FX crunch
News reports say that credit card users will only be able spend USD 250 of FX a month while in…
It was expected: Moody’s downgrades credit rating of five local banks
The move follows the agency’s decision to downgrade Egypt’s sovereign credit rating to Caa1 last week
IMF cuts our 23-24 growth outlook amid FX crunch, MENA and Saudi outlooks also trimmed
Saudi and MENA growth outlooks are also cut in the latest update to the World Economic Outlook
Egyptian telecom providers suspend e-wallet FX payments
Four of Egypt’s largest banks are among those who have stopped use of EGP debit cards abroad this week
More banks have stopped the use of EGP debit cards outside the country
The National Bank of Egypt, Banque Misr, Emirates NBD, and National Bank of Kuwait have joined the growing list of…
THIS EVENING: Local banks get CBE instructions to bar FX transactions on EGP debit cards
Good afternoon, ladies and gents. It’s by far a calmer day today than it was yesterday, although we’re running with…
House committees sign off on tax cut, expat car import scheme 2.0 + ADP Safaga port contract
President Abdel Fattah El Sisi last month directed the government to raise the income tax exemption threshold as part of…
Got an EGP account at CIB? You won’t be able be to use your debit card overseas
CIB follows, HSBC, AAIB and the Arab International Bank in curbing access to FX
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