Regulatory Alerts2020-12-28
Added · Updated
Circular dated December 28, 2020 regarding extending the period of exemption from commissions and fees on banking services
The Central Bank of Egypt extends the exemption from commissions and fees on specific banking services until June 30, 2021. This extension covers free bank transfers in Egyptian pounds, free mobile wallet issuance and transfers, free contactless card issuance, free ATM cash withdrawals for debit cards, and the elimination of interchange fees for contactless payment transactions. Banks are required to immediately implement these measures to support citizens and promote electronic payment channels.