Regulatory Alerts2022-04-27 | CBE12.5Added · Updated
CBE Regulation Book 12.5 - Rules For Technology Service Providers For Payments And Facilitators Of Electronic Payment Processes
The Central Bank of Egypt establishes minimum rules and controls for banks interacting with Payment Technical Aggregators and Payment Facilitators, defining their roles, required infrastructure, and operational obligations. The regulation mandates that bank boards of directors adopt strategies for engaging these providers, conduct risk analyses, and perform periodic inspections. It further specifies that subsidiary companies contracting with these entities must maintain specific bank accounts, physical headquarters in Egypt, and valid contact information to facilitate electronic payment collection.