Arab Finance: The National Bank of Egypt (NBE) has reduced foreign exchange (FX) markup fees to 5% from 10% for credit cards, as per a statement by the bank.

The bank has also extended the purchase limit in foreign currency for primary and supplementary credit cards outside Egypt to a range between EGP 37,500 and EGP 240 depending on the card type.

Likewise, it increased credit card transaction limits in foreign currency to be between EGP 7,500 and EGP 90,000.

In the same vein, Banque Misr has lowered FX markup fees to 5% from 10% for credit cards.

Moreover, the monthly international purchase limit outside Egypt has been raised to a maximum of EGP 300,000.

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