03:12 PM
Monday, March 11, 2024
Written by Manal Al-Masry:
Commercial International Bank CIB, the largest private sector bank in Egypt, raised the monthly limit for purchases and international cash withdrawals using credit cards outside and inside Egypt for the second time within 4 days after the decision to liberalize the exchange rate of the pound, according to the new amendments published on its website.
CIB Bank raised the limit for purchases using credit cards last Thursday for the first time in nearly a year and a half of imposing restrictions in response to the directives of Hassan Abdullah, Governor of the Central Bank, to open credit card limits after his decision to return to liberalizing the exchange rate last Wednesday.
The Central Bank directed banks last Wednesday to lift restrictions on credit cards after announcing the decision to liberalize the exchange rate, so a number of banks began to respond quickly and lift the limits on credit cards inside and outside Egypt for purchases and cash withdrawals.
The monthly limit for purchases and cash withdrawals outside Egypt using the “Credit Card” from the Commercial International Bank after the increase:
Strip (Prime)
-Raising the monthly limit for monthly purchases to the equivalent of 75,000 pounds in foreign exchange instead of 25,000 pounds.
-The monthly limit for monthly cash withdrawals increased to the equivalent of 3.5 thousand pounds in foreign exchange instead of two thousand pounds.
“pLUS” sector
-Raising the monthly limit for purchases to the equivalent of 125,000 pounds in foreign exchange instead of 50,000 pounds.
-The monthly limit for monthly cash withdrawals increased to the equivalent of 5,000 pounds in foreign exchange instead of 3,000 pounds.
“Wealth” sector
-Raising the monthly limit for purchases to the equivalent of 175,000 pounds in foreign exchange instead of 105,000 pounds.
The monthly limit for cash withdrawal increased to the equivalent of 8,000 pounds in foreign currency instead of 5,000 pounds.
“Private” sector
-Raising the monthly limit for purchases to the equivalent of 200,000 pounds in foreign exchange instead of 175,000 pounds.
-The monthly limit for monthly cash withdrawal increased to the equivalent of 10.5 thousand pounds in foreign exchange instead of 6.5 thousand pounds.
Business sector
-Raising the monthly limit for purchases to the equivalent of 125,000 pounds in foreign exchange instead of 85,000 pounds.
-The monthly limit for monthly cash withdrawal has increased to the equivalent of 4 thousand pounds in foreign exchange instead of 2.5 thousand pounds.
Corporate sector of companies
-Raising the monthly limit for purchases to the equivalent of 175,000 pounds in foreign exchange instead of 130,000 pounds.
-The monthly limit for monthly cash withdrawal has increased to the equivalent of 4 thousand pounds in foreign exchange instead of 2.5 thousand pounds.
The Commercial International Bank raised the limits for purchases inside Egypt – for shopping from foreign websites – and only on all types of cards, to reach, after increasing them, the equivalent of 50 thousand pounds in foreign currency, equivalent to (about a thousand dollars), compared to previous limits that ranged from 3.5 thousand pounds to 12.5 thousand pounds. .
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