Major Egypt banks suspend debit-card use in foreign currency

Major Egypt banks suspend debit-card use in foreign currency

Arab Bank also stopped international transactions for debit cards, according to a statement on its website, while a customer representative for state-owned Banque Misr said it was doing the same.

Banque du Caire, Credit Agricole and QNB Alahli took similar actions, they told customers in messages. Credit cards can still be used.

The lenders gave no official reasons for the moves. Authorities have devalued the pound three times since early 2022, with the currency losing almost half its value against the dollar.