Friday October 27, 2023
Books – Sameh said:
Rep. Yasser Omar, undersecretary of the Plan and Budget Committee in the House of Representatives, said there is no justification for an increase in the dollar rate on the black market, describing it as a despicable attempt by merchants.
He added in exclusive statements to “Masrawy” that there is no other reason for the increase in the price of the dollar than the attempt of traders to exploit the current conditions and anxious situations in the region and the events in Gaza outside.
Omar predicted that they would soon receive a blow to stop their greed and exploitation in this unfortunate manner.
The parallel market benefits from the geopolitical tensions surrounding the region, as well as from the scarcity of foreign currency supply, which are the main reasons for the dollar’s rise on the black market in Egypt in recent days.
This comes at a time when the Central Bank of Egypt announced new measures to facilitate citizens in using their credit cards to cover their expenses while traveling abroad.
The Central Bank has decided to fully open up the specified usage limits for credit cards to every customer, without the need to submit any documents, once he contacts the card issuing bank’s customer service department or visits a branch.
The Central Bank confirmed in a statement that the customer is obliged, within a period of 90 days from the opening of these borders, to provide the bank issuing the card with proof that he has used the card during his trip abroad via departure and arrival stamps in his passport, or by sending proof of his continued presence abroad, if this exceeds the period.
The statement added: “If the customer does not comply with the above, the card issuing bank will notify I-Score to place him on the negative list. He will also be excluded from benefiting in the future of banking services, and the relevant authorities will be informed to take necessary action.”
The Central Bank continued: “The new instructions stem from the bank’s willingness to overcome any difficulties that citizens may face, and to facilitate the use of their credit cards to cover their expenses during travel abroad.”