2021-12-29

A circular dated December 29, 2021 regarding extending the exemption of some banking services from commissions in light of the precautionary measures to confront the Corona virus.

In a letter dated December 29, 2021, the Central Bank of Egypt requested that banks waive fees and commissions on various banking services, including electronic transfers, mobile payments, and ATM transactions, for a period of six months starting January 1, 2022. This initiative aims to reduce the reliance on cash and encourage the use of electronic payment methods, particularly among private sector merchants and micro, small, and medium-sized enterprises (MSMEs). Banks are also urged to promote the use of national payment cards and quick response codes for online transactions.

Egypt

Central Bank of Egypt

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