Back to the complete issue
Monday, 15 August 2016

CIB imposes new limits on cash withdrawals and purchases for card users abroad for the second time in 15 days

New limits on purchases abroad for CIB, Barclays card holders: CIB has reduced cash withdrawal limits. Among them, platinum, platinum EgyptAir and corporate credit card holders will see monthly purchase limits while abroad fall to USD 7,500 from USD 12,000. The full list of limits on FCY cash withdrawals and purchases abroad is here in the official bank statement (pdf). The news has also been picked up by Al Ahram. Barclays-Egypt has capped withdrawals abroad for platinum and other card holders, Al Mal reports, and raised fees for using debit cards while outside the country. AAIB, SAIB, Bank Audi, Barclays and QNB, among others, have previously capped purchases abroad and withdrawals, as we have previously reported.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Mashreq (tax ID: 204-898-862), the MENA region’s leading homegrown personal and digital bank; Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt; Hassan Allam Properties (tax ID:  553-096-567), one of Egypt’s most prominent and leading builders; and Saleh, Barsoum & Abdel Aziz (tax ID: 220-002-827), the leading audit, tax and accounting firm in Egypt.