Egyptian banks discuss issuing credit cards for youths

Egyptian banks are studying presenting a new service through credit cards directed only at youths, without conditioning the existence of a bank deposit at the issuing of the card.

The banks are also studying applying a program for financing the sale of long - lived goods in installments through credit cards. These goods are topped by electric appliances, furniture, cars, household goods and computers through an agreement that allows the sale of these products using credit cards.

The bank would pay the amount on behalf of the cardholder, then the bank later obtains the value of the item in monthly installments from the client during a period of time that spans more than 10 years.