Regulatory Alerts2025-09-01
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Governance and internal control instructions for payment systems and payment service providers
These instructions establish minimum governance and internal control requirements for payment institutions operating in the Arab Republic of Egypt, including entities established under special laws. The rules define payment service provider categories based on transaction volume thresholds, specifically distinguishing Category A providers with monthly averages exceeding EGP 750 million from Category B providers with averages of EGP 750 million or less. Payment institutions must adopt an organizational structure ensuring the independence of risk, compliance, and audit departments, while Category B providers are permitted to merge risk and compliance functions. The Board of Directors is mandated to supervise management, adopt strategies, ensure dual control principles, and meet at least quarterly, with strict limits on member absences and delegation.
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