Regulatory Alerts2019-06-23
Added · Updated
Rules Regulating Payment Services Using Prepaid Cards in the Arab Republic of Egypt
The document establishes the regulatory framework for prepaid card payment services in Egypt to promote financial inclusion and a cashless society. It defines key terms including open, semi-open, and closed prepaid cards, and outlines the organizational structure, management responsibilities, and product specifications for service providers. The rules mandate strict supervisory controls over card issuance, third-party service providers, and outsourced functions, while requiring robust business continuity plans, data confidentiality, and standard service contracts.