Banque Misr has added new controls to use credit and debit cards outside Egypt, in order to prevent the misuse of cards abroad, according to bank chairperson Mohamed El-Etreby. El-Etreby told Daily News Egypt that customers who wish to use their cards outside Egypt must provide documents that prove that they are travelling abroad in order to be able to use the card. The bank noticed that a number of customers in several provinces placed deposits in order to obtain debit cards. According to El-Etreby, the value of the bank’s cards abroad has increased from $52m in 2015, to $300m in 2016. Moreover, other sectors that seek to obtain foreign capital for business or investment are hindered by those who are abusing their cards abroad.

Source: Daily News Egypt October 18, 2016 13:41 UTC