Egypt’s NBE raises intl. credit card limits

Egypt NewsBanksFeature
By M.S.Salama
National Bank of Egypt
The National Bank of Egypt (NBE) is the country's largest bank in terms of assets, deposits, loans, bank-capital, number of total branches, and employees.

The National Bank of Egypt (NBE) has increased the limits of cash withdrawals and purchases on credit card transactions outside Egypt according to the type of each card, Amwal Al Ghad Arabic reported.

The bank raised the cash withdrawal limit on “Visa Classic”, “MasterCard Standard”, and “MasterCard Egypt Air” to EGP 2,500 instead of EGP 1,500 and EGP 25,000 for purchases instead of EGP 7,000.

The limits for international transactions by “Visa Gold”, “MasterCard Titanium” were increased to EGP 3,500 for cash withdrawals instead of EGP 2,000 and EGP 37,500 instead of EGP 15,000 for purchases.

The limits on “Visa Platinum”, “MasterCard Platinum”, and “MasterCard UEFA Champions League” were raised to EGP 100,000 on international purchases and about EGP 7,500 on cash withdrawals.

NBE also raised limits of international transactions on “MasterCard World”, “Visa Signature”,” MasterCard World Elite”, and “Visa Infinity” credit cards to EGP 160,000 instead of EGP 85,000 for purchases, and EGP 7,500 for cash withdrawals instead of EGP 4,500.

The Central Bank of Egypt on Wednesday directed local banks to increase the limits credit cards in foreign currency, in a new step towards enhancing the stability of the local exchange market.

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