{"id":608882,"date":"2023-10-26T00:00:00","date_gmt":"2023-10-26T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/10\/26\/this-evening-the-central-bank-of-egypt-loosens-reins-on-credit-card-usage-abroad\/"},"modified":"2023-10-26T00:00:00","modified_gmt":"2023-10-26T00:00:00","slug":"this-evening-the-central-bank-of-egypt-loosens-reins-on-credit-card-usage-abroad","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/10\/26\/this-evening-the-central-bank-of-egypt-loosens-reins-on-credit-card-usage-abroad\/","title":{"rendered":"THIS EVENING: The Central Bank of Egypt loosens reins on credit card usage abroad"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good afternoon readers, and happy Thursday.<\/strong> We are glad that there is some slightly positive news to share on the local front. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>THE BIG STORY TODAY<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>CBE to loosen restrictions on credit card use abroad:<\/strong> The CBE will allow credit card users access to their usual FX transaction limits without having to submit proof of travel prior to their trips, following complaints about the difficulties of reaching and communicating with banks before traveling, the CBE said in a <a target=\"_blank\" href=\"https:\/\/www.cbe.org.eg\/ar\/news-publications\/news\/2023\/10\/26\/07\/26\/regulations-to-facilitate-the-usage-of-credit-cards-abroad\" style=\"\" rel=\"noopener\">statement<\/a> this morning. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u2026and here comes the caveat: <\/strong>Customers will still have to provide proof that the card was used abroad within 90 days of returning to Egypt, or they would risk being banned from using or receiving credit cards in the future. Proving travel can be done either through arrival and departure stamps on passports or by sending proof of continued residency abroad if the trip exceeds those 90 days. In addition, customers will still need to notify their banks\u2019 customer service departments before they travel.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>THE BIG STORY ABROAD<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The overnight raid on Gaza is dominating the conversation in the western news.<\/strong>The raid claimed 77 livesas Israeli Prime Minister Benjamin Netanyahu stated that he will not share more details about the time or approach used in the ground invasion of Gaza. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/israel-bombards-gaza-prepares-invasion-biden-urges-path-two-states-2023-10-25\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/81858568-33f1-460d-b840-08141a4483f4\" style=\"\" rel=\"noopener\">Financial Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-10-26\/israel-latest-army-attacks-targets-in-northern-gaza-ground-raid?srnd=premium-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/livecoverage\/israel-hamas-war-palestinians-news?mod=hp_lead_pos1\" style=\"\" rel=\"noopener\">Wall Street Journal<\/a> | <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2023\/10\/26\/israel-hamas-war-updates-and-latest-news-on-gaza-conflict.html\" style=\"\" rel=\"noopener\">CNBC<\/a>)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** CATCH UP QUICK on the top stories from today\u2019s EnterpriseAM:<\/strong><\/p>\n<ul>\n<li><strong>IMF chief Kristalina Georgieva <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fd513719-823a-44d0-ac15-bdf4160cae0f\" style=\"\" rel=\"noopener\">thinks Egypt and the region will suffer an economic hit if there is a prolonged conflict in Gaza<\/a><\/strong><strong>. <\/strong>\u201cInvestors are going to be shy to go to [these countries]. The cost of ins., if you want to move goods, they go up. Risks of even more refugees in countries that are already accepting more.\u201d<\/li>\n<li><strong>S&P Global <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/dd9ed4ef-7d60-4ee9-8b07-2e60a9069057\" style=\"\" rel=\"noopener\">has downgraded the long-term credit ratings of three local banks<\/a><\/strong><strong>,<\/strong> a few days after it cut its rating on Egypt\u2019s sovereign debt deeper into junk.<\/li>\n<li><strong>Egypt has ambitious FDI targets: <\/strong>The government <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0d1ce8ec-0246-408a-9945-5102f34cdbf8\" style=\"\" rel=\"noopener\">plans to increase annual foreign direct investment (FDI) to USD 25 bn within the next five years<\/a>.<\/li>\n<\/ul>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">\n   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily<br \/>\n  <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>\n <\/div>\n<\/p><\/div>\n<\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u2600\ufe0f <\/strong><strong>TOMORROW\u2019S WEATHER- <\/strong>Looks like sunny weather with the mercury reaching a high of 30\u00b0C during the day and dropping to a cooler 24\u00b0C in the evening, according to our favorite weather app.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Good afternoon readers, and happy Thursday. We are glad that there is some slightly positive news to share on the local front. THE BIG STORY TODAY CBE to loosen restrictions on credit card use abroad: The CBE will allow credit card users access to their usual FX transaction limits without having to submit proof of [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7213],"tags":[8282,633,2234,634],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-608882","post","type-post","status-publish","format-standard","hentry","category-what-were-tracking-tonight","tag-credit-cards","tag-enterprisepm","tag-foreign-exchange","tag-what-were-tracking-tonight","wpautop","entry"],"acf":{"mongo_id":"979950ed-80a0-46eb-bcf0-9e6b7676bff7","order":"0","is_powered_by":false,"story_type":"4","photo_url":"","photo_position":"above","homepage_title":"","full_issue_title":"","related_issue":[608880],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/10\/.c54b9e3f-48f4-47b7-8ffa-635d291ee0ee.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>THIS EVENING: The Central Bank of Egypt loosens reins on credit card usage abroad - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2023\/10\/26\/this-evening-the-central-bank-of-egypt-loosens-reins-on-credit-card-usage-abroad\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"THIS EVENING: The Central Bank of Egypt loosens reins on credit card usage abroad\" \/>\n<meta property=\"og:description\" content=\"Good afternoon readers, and happy Thursday. We are glad that there is some slightly positive news to share on the local front. 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The changes come at the same time as the central bank is reportedly debating whether to allow the introduction of on-shore non-deliverable forwards (NDFs)\u2026","rel":"","context":"In &quot;FOREIGN EXCHANGE&quot;","block_context":{"text":"FOREIGN EXCHANGE","link":"https:\/\/enterpriseam.com\/egypt\/category\/foreign-exchange\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/10\/150.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":544153,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/02\/14\/this-evening-new-cbe-decision-will-see-importers-need-letters-of-credit-to-buy-goods-starting-march-el-sisi-ratifies-unified-budget-act-egyps-is-underway\/","url_meta":{"origin":608882,"position":3},"title":"THIS EVENING: New CBE decision will see importers need letters of credit to buy goods starting March + El Sisi ratifies Unified Budget Act + Egyps is underway","author":"enterpriseam admin","date":"14 February 2022","format":false,"excerpt":"Happy Valentine\u2019s Day, ladies and gentlemen. The news cycle is still taking a breather this afternoon, but we expect this is the calm before some sort of storm. THE BIG STORIES TODAY SO FAR- #1- Importers need letters of credit to buy goods starting March: Banks have begun informing importers\u2026","rel":"","context":"In &quot;WHAT WE\u2019RE TRACKING TONIGHT&quot;","block_context":{"text":"WHAT WE\u2019RE TRACKING TONIGHT","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-tonight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":576815,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/09\/04\/be-the-first-to-own-a-world-credit-card\/","url_meta":{"origin":608882,"position":4},"title":"Be the first to own a World Credit Card","author":"enterpriseam admin","date":"4 September 2020","format":false,"excerpt":"Be the first to own a World Credit Card: CIB is delighted to present to you the all-new WorldCredit Card. Be the first to apply for the new card before 31 October 2020, to enjoy no issuance fees, which will be exclusively waived for CIB Wealth customers, saving you EGP\u2026","rel":"","context":"In &quot;BE THE FIRST TO OWN A WORLD CREDIT CARD&quot;","block_context":{"text":"BE THE FIRST TO OWN A WORLD CREDIT CARD","link":"https:\/\/enterpriseam.com\/egypt\/category\/be-the-first-to-own-a-world-credit-card\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/8\/271.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":544245,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/02\/21\/tonight-efg-hermes-greenlights-fab-due-diligence-appoints-goldman-to-advise-jordan-pm-covid-positive-following-business-talks-in-cairo-another-day-another-scandal-at-credit-suisse\/","url_meta":{"origin":608882,"position":5},"title":"TONIGHT: EFG Hermes greenlights FAB due diligence + appoints Goldman to advise; Jordan PM covid positive following business talks in Cairo; Another day, another scandal at Credit Suisse.","author":"enterpriseam admin","date":"21 February 2022","format":false,"excerpt":"We really can\u2019t seem to a catch a break from the barrage of news that 2022 is throwing our way: We have another update on the potentially huge acquisition of EFG Hermes by First Abu Dhabi bank while more pieces are falling into place ahead of this year\u2019s COP27 summit\u2026","rel":"","context":"In &quot;WHAT WE\u2019RE TRACKING TONIGHT&quot;","block_context":{"text":"WHAT WE\u2019RE TRACKING TONIGHT","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-tonight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/608882","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=608882"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/608882\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/afternoon\/608880"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=608882"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=608882"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=608882"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=608882"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=608882"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}