2017-06-13

A circular dated June 7, 2017 regarding the establishment of the National Payments Council and its results regarding reducing expenses for mobile payment services.

In reference to the Egyptian President's decision to establish the "National Payments Council," a letter dated June 7, 2017, informs the Chairman of the Board of a bank of the council's objectives. These include reducing cash usage outside the banking sector, promoting electronic payment methods, and enhancing the security and efficiency of national payment systems. The letter also communicates the council's decision to waive fees for citizens opening mobile payment accounts for one year and reduce mobile payment service fees by 50% for six months.

Egypt

Central Bank of Egypt

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