2022-06-29

A circular dated June 29, 2022 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 June 29, 2022, the Governor of the Central Bank of Egypt, Tarek Amer, announces several measures to promote the use of electronic payment methods and reduce cash reliance. These include waiving fees for certain online banking transactions and mobile wallet transfers, capping fees for others, and exempting citizens from fees for issuing prepaid cards and using contactless payment tools. Banks are also encouraged to waive fees for small and medium-sized enterprises (SMEs) activating e-commerce services for the first time.

Egypt

Central Bank of Egypt

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