Central Bank of Egypt Eases Rules on Credit Card Use Abroad

The Central Bank of Egypt (CBE) has officially relaxed a key restriction on the use of credit cards abroad, signaling a shift in the country’s foreign exchange management policies following recent economic reforms.

In a decision announced this week, the CBE canceled a clause from a previous directive issued in October 2023. The now-removed clause had required banks to track the international use of credit cards by verifying exit and entry stamps on customers’ passports within 90 days of activating their cards for international use.

Under the previous rule, customers had to submit travel documentation to confirm they were physically abroad when using their cards, as a measure to control foreign currency outflows. Failure to do so could result in card restrictions or penalties.

With the new directive in place, customers are no longer obligated to provide banks with such documentation. Egyptian banks will continue to allow credit card usage abroad, applying foreign exchange fees as usual, but without demanding proof of travel.

Policy Shift Reflects Improved Currency Conditions

This regulatory easing follows the unification of Egypt’s exchange rate in March 2025, a move that aligned the official and parallel market rates and helped stabilize the country’s foreign currency environment. As a result, the stringent controls previously considered necessary to prevent misuse of foreign exchange channels have become less relevant.

Economic analysts view the move as part of a broader strategy to normalize banking operations and restore confidence in the financial sector, especially after years of tight currency controls and capital management regulations.