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Learn moreOct 2020
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Locally, a high-interest-rate environment benefited bankers lending to the government. So, for years, Egyptian banks have been massive lenders to the Egyptian government, at the expense of the private sector.
As a means of supporting the overall economy during the COVID-19 pandemic, the Egyptian government, via the Central Bank of Egypt, has enforced a new law on all banks, introduced in March 2020, that all credit card repayments are to be postponed/delayed for a total of six months with no extra interest payable, in order to support consumers and businesses in what are difficult economic times. However, consumers are still free to make repayments during this period if they wish, while banks have lost their power to automatically withdraw the money from accounts or to ask consumers to pay make repayments during this period.
The Central Bank of Egypt stated that the top five banks operating in the market account for three quarters of the total credit cards in circulation, while the top 10 banks account for more than four fifths of the total credit cards issued in the country.
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Discover the latest market trends and uncover sources of future market growth for the Credit Card Transactions industry in Egypt with research from Euromonitor's team of in-country analysts.
Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.
If you're in the Credit Card Transactions industry in Egypt, our research will save you time and money while empowering you to make informed, profitable decisions.
The Credit Card Transactions in Egypt market research report includes:
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Euromonitor’s industry reports, including Credit Card Transactions in Egypt, originate from our database within our Consumer Finance market share and market size database
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.