Egypt’s major banks have rolled out new measures to facilitate access to foreign currency for travelers, reduce transaction fees, and expand the use of bank cards abroad — a move reflecting growing confidence in Egypt’s financial sector and improved foreign exchange (FX) liquidity.

The changes come in the wake of recent regulatory adjustments by the Central Bank of Egypt (CBE), which have loosened prior restrictions on overseas card usage.

Among the banks implementing the changes are the National Bank of Egypt (NBE), Commercial International Bank (CIB), and Arab African International Bank (AAIB).

Current customs regulations allow individuals to carry up to $10,000 or its equivalent without a declaration.

Amounts above that must be declared on arrival and can only be carried out with documentation proving the initial declaration. Additionally, travelers may take up to EGP 5,000 in local currency when entering or exiting the country.

The NBE stated that it will make foreign currency available to customers planning to travel, in line with the maximum limits allowed by law for those departing through Egyptian airports and ports.

Alongside higher withdrawal limits, several banks have slashed foreign currency markup fees on credit card transactions. Both NBE and CIB have reduced these charges from 5% to 3%, with Bank Misr introducing a similar cut effective August 13, 2025. The AAIB has also expanded its international card spending cap to $10,000 and doubled in-country foreign currency purchase limits.

These reductions come as part of a wider rollback of FX controls that had been imposed during a period of acute currency pressure.

Since late 2022, banks had significantly tightened restrictions on overseas card usage to curb foreign currency outflows, with monthly limits dropping to as low as $50 for standard customers and only a few hundred dollars for premium account holders.

Markup fees were hiked, and cardholders were required to provide proof of travel before accessing significant amounts of foreign currency.

The CBE also eliminated the requirement for banks to verify a customer’s presence abroad within 90 days of activating overseas card limits. However, banks still retain the authority to monitor transactions and request supporting documentation in line with earlier policies.

In line with efforts to reduce costs for international transactions, NBE also slashed its credit card FX markup fee from 5% to 3%, making overseas spending more affordable for cardholders.

Similarly, CIB reduced its foreign exchange margin to 3% across all credit cards, effective August 13, 2025. The move is expected to benefit Egyptian travelers and residents with frequent international purchases.

Meanwhile, AAIB announced an increase in its foreign currency purchase limits within Egypt and raised international card spending caps to $10,000. The bank emphasized that the step is intended to offer more financial flexibility to its customers while abroad.

Regulatory Backdrop

The easing of restrictions coincides with a notable improvement in Egypt’s FX landscape. Strengthened by robust foreign capital inflows, increased remittances, and rising investor confidence, the country’s FX reserves have grown significantly in recent months.

This progress is part of a broader economic reform strategy aligned with Egypt’s ongoing $8 billion loan agreement with the International Monetary Fund (IMF). As part of the program, Egypt implemented several corrective measures on March 6, 2024, including a substantial interest rate hike and a new round of currency devaluation.

These policy shifts have helped boost FX availability and stabilize the Egyptian pound. Since July 1, the currency has appreciated by approximately 2.2% against the US dollar, 3.4% against the euro, and 4.1% versus the British pound — marking its strongest position in nearly a year.

The IMF is expected to complete the fifth and sixth reviews of Egypt’s loan program in December, with further developments likely to shape the next phase of economic reforms.