Regulatory Alerts2019-01-01
Law No. 18 of 2019 Regulating the Use of Non-Cash Payment Means
The Egyptian Parliament enacted Law No. 18 of 2019 to mandate and regulate the use of non-cash payment means across government entities, public institutions, and private enterprises. The legislation requires all specified public and private sectors to settle financial dues, taxes, fees, and service charges using electronic or bank-based payment methods once transactions exceed thresholds defined in executive regulations. Violations incur fines ranging from 2% to 10% of the transaction value or fixed amounts, with proceeds dedicated to funding non-cash payment infrastructure and public awareness campaigns.
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