Currency Shortage Causes Egyptian Banks To Suspend Debit Card Use.
From Greg M
Lions and friends!
Talk about a liquidity crisis!
CAIRO, (Reuters) - 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.
Arab African International Bank sent a notice to customers on Wednesday and Arab International Bank sent one on Thursday announcing the suspension, according to several customers.
A customer representative for Arab African International Bank confirmed the move, saying it was due to the country's foreign exchange shortage.
One banker in Egypt said all banks were facing similar problems as a result of the currency shortage, but that each was taking decisions separately.
You think this is going to stop here?
Showing soon at a local ATM by you!
America yawns and continues to watch bread and circus football and drink & eat themselves to a comatose state as long as the credit cards can be swiped everything is fine ! Just wait till those issues arrive here to the unsuspecting mass of idiots