CAIRO, Oct 5 - At least two Egyptian banks have suspended the use of Egyptian pound debit cards outside the country to stop a drain on foreign currency as the country's currency shortage worsens.
A customer representative for Arab African International Bank confirmed the move, saying it was due to the country's foreign exchange shortage. A substantial number of debit card holders had been using cards to make bulk purchases, often in the United Arab Emirates, of gold, mobile telephones and other products to take advantage of the Egyptian pound's low official exchange rate.
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