CBE targeting offshore black-market activity: The central bank has instructed banks to help it clamp down on black market traders operating outside the nation’s borders. CBE Deputy Governor Gamal Negm asked the heads of bank compliance departments yesterday to report suspicious inbound transfers of EGP. With the clampdown on FX bureaus intensifying, Negm says Egyptian expats have been selling USD for EGP at black market rates, then wiring EGP home to their own accounts or those of family and friends, Al Mal reports. The CBE is also concerned about the use abroad of debit cards and of credit card cash advances, including the widespread practice of cardholders applying for supplemental cards in the names of family members.