Sources have revealed that the global flight and hotel booking platform around the world, as well as Emirates Airlines, have canceled the payment system in pounds sterling and replaced it with dollars.
A number of customers of the two platforms have circulated a notice from the two companies about the financial policy of flight bookings and that the work in pounds sterling will be canceled and replaced by the dollar.
An official source at the bank explained to Cairo 24 that notifying the two companies to customers will not cancel transactions in the local currency (Egyptian pound) when booking flights from Egypt or booking hotels, but rather change the financial transaction policy, and that the final payment process will depend on the price in dollars on the day of implementation and will not. The payment price is fixed in Egyptian pounds.
The source added that the amount placed in the financial portfolio in local currency, its final value will not be known until the reserve price is deducted or the moment of payment, based on the price of the dollar against the local currency. .
According to the statistics published by the Booking platform earlier, the number of Booking website users who book flights and travel per month was 536.8 million, while Egypt’s share is 8 million users per month at an estimated rate of 1.5%.
Source: Cairo 24