Egyptian banks continue their efforts to stop customer manipulation and abuse of electronic payment cards abroad. Banque Misr has added new controls on the use of credit and debit cards in order to prevent abuse of their services abroad. On Monday, the NBE reduced regular debit cards usage limits for regular debit cards abroad by 50%, and reduced the purchase limits of platinum debit cards by 40%The NBE suspended cash withdrawals on all cards and direct debit for travellers abroad since 12 October and limited cards usage overseas on purchases only. The number of issued debit cards reached 13.2 million cards, up from 12.292 million cards during the same period the previous year. El-Etreby also stated that the value of the bank’s cards abroad has increased from $52m in 2015 to $300m in 2016.

Source: Daily News Egypt October 23, 2016 06:00 UTC