2021-01-06

A circular dated January 6, 2021 regarding local transfers in the Egyptian pound

The letter, dated January 6, 2021, from the Governor of the Central Bank of Egypt to the Chairman of the Board of Directors of a bank, outlines decisions made by the Central Bank's Board regarding improving the infrastructure and transfer systems of banks to enhance customer confidence and encourage the reduction of cash transactions. It emphasizes the importance of same-day execution of customer transfer requests and outlines specific time frames for executing transfers within the same bank and to other banks. The letter also mentions measures to enhance financial inclusion, improve payment systems, and reduce transaction costs for electronic payments.

Egypt

Central Bank of Egypt

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