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20-Jul-2016

Emirates NBD Egypt reverses move to suspend credit, debit card use abroad

Emirates NBD Egypt has cancelled a decision taken earlier to suspend use of debit and credit cards abroad in an attempt to keep hard currency inside the bank, its deputy Managing Director Sahar El Damati said on Tuesday. The bank’s announcement was made on Monday night to customers via SMS. "Dear Valued Customer, please note that Emirates NBD cards will be disabled for international use outside Egypt only effective 24th of July 2016 till further notice. Apologies for any inconvenience," read the text message. El Damati further said the bank reversed the decision upon the customers’ requests and its strategy to meet all their requirements. The bank will notify today customers via SMS about the validity of its debit and credit cards for international use outside Egypt once again, the banking official added. (Amwal Al Ghad)   Emirates NBD (DU): AED8.52 as of 19 July 2016, Rating: Buy, FV: AED10.00 per share, MCap: USD12,903mn, EMIRATES UH / ENBD.DU

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