CBE Excludes Certain Categories from Foreign Currency Withdrawal Restrictions Abroad

The Central Bank issued instructions to banks include categories exceptions from recent decisions related to providing foreign currency to customers abroad, an official banking source revealed.

The source revealed in a statement to the Middle East News Agency that the Central Bank has directed banks to manage foreign currency and open the borders of credit cards and direct debit cards for foreign currency needs for education and treatment purposes without maximum limits, at the request of a client for that letter services, and providing supporting documents.

He explained that the Central Bank threatened banks to open the borders of credit cards and direct debit cards to customers who traveled before the decision date of December 22, 2022, so that the customer could obtain his necessary needs from foreign currency, at the customer's request.

He pointed out that the central bank had confirmed no limits on use for customers with foreign currency accounts or credit cards whose uses are repaid from their foreign currency accounts.