{"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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It\u2019s a calm day in the press, with few but impactful headlines making the rounds.THE BIG STORY TODAY- ?The CBE has reportedly fined FABMisr and other lenders over loans to Beltone Holding; Beltone denies wrongdoing. Asharq Business reported today that the Central\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\/2025\/5\/1944.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":549943,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/10\/09\/major-local-banks-set-withdrawal-limits-on-using-debit-and-credit-cards-abroad-cbe-reportedly-mulls-allowing-ndfs-to-trade\/","url_meta":{"origin":608882,"position":3},"title":"Major local banks set withdrawal limits on using debit and credit cards abroad + CBE reportedly mulls allowing NDFs to trade","author":"enterpriseam admin","date":"9 October 2022","format":false,"excerpt":"At least four major banks have in recent days imposed limits on foreign exchange use in what pundits say is a move to conserve hard currency. 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":608999,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/10\/29\/this-evening-egypts-tourism-is-dealt-a-blow-with-reservations-plummeting-by-50-due-to-the-regional-crisis\/","url_meta":{"origin":608882,"position":4},"title":"THIS EVENING: Egypt\u2019s tourism is dealt a blow with reservations plummeting by 50% due to the regional crisis","author":"enterpriseam admin","date":"29 October 2023","format":false,"excerpt":"Good afternoon, wonderful people. We hope the first workday of the week has treated you better than Israel\u2019s war in Gaza is treating the tourism industry. Egyptian travel giant Travco has seen cancellations for reservations through the end of the year hit the 50% mark as holidaymakers look to other\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\/2022\/11\/586.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":616685,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/03\/10\/banks-trade-usd-1-9-bn-in-two-days\/","url_meta":{"origin":608882,"position":5},"title":"Banks trade USD 1.9 bn in two days","author":"enterpriseam admin","date":"10 March 2024","format":false,"excerpt":"The EGP lost almost 37% of its value against the greenback after the float","rel":"","context":"In &quot;Economy&quot;","block_context":{"text":"Economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/3\/711.jpg?fit=%2C&ssl=1&resize=350%2C200","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}]}}