BSS
  09 Oct 2022, 14:05

Egyptian banks to start accepting Russian Mir cards shortly - newspaper

CAIRO, Oct 9, 2022 (BSS/TASS) - Transactions with the Russian national

currency in Egyptian banks and with cards of the Russian payment system Mir
may become effective shortly," Egypt's Al-Shorouk newspaper said.

According to newspaper's sources in the economic and tourism sphere, "the Mir
system and transactions with the Russian ruble in Egyptian banks at tourist
resorts can be put in place in coming days." The same sources denied that the
delay with the Mir system's introduction in Egypt and with banking
transactions "was related to doubts of Turkish banks regarding their
application after the US had warned about introduction of sanctions against
countries that would accept Russian payment cards for servicing."

Egyptian businessmen and hotel operators and owners approached the Central
Bank of Egypt and requested to finalize procedures to accept the ruble as the
trading currency, for the use of an official ratio between the Russian ruble
and the Egyptian pound from the start of the winter tourist season, the
newspaper said. This decision "will be interests of the tourist sector and
will have an overall positive effect for the country's economy," the Egyptian
business community said, cited by the newspaper.