2022-12-28

A circular dated December 20, 2022 regarding exempting some banking services from commissions

On December 20, 2022, the Central Bank of Egypt announced several decisions to promote the use of electronic payment methods and reduce cash reliance. These include waiving fees for personal online bank transfers in Egyptian pounds and eliminating charges for micro, small, and medium-sized enterprises (MSMEs) activating e-commerce services for the first time. Additionally, mobile wallet transfers up to EGP 2,000 per month will be free, with a maximum fee of EGP 1 for transfers within the same service provider and 5.5% of the transfer value (up to EGP 15) for transfers to other providers.

Egypt

Central Bank of Egypt

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