Rules Regulating Instant Payment Network Services in the Arab Republic of Egypt

(IPN) October 2021

CENTRAL BANK OF EGYPT

Introduction

Within the framework of the Central Bank of Egypt's plan to achieve financial inclusion and provide banking services to all members of society, and in light of the Central Bank's digital transformation plan and the need to increase the number of electronic transactions and make various payment and collection means available to meet customer needs, these rules aim to define the operational framework for banks and mobile application providers on the Instant Payment Network. This aims to enable customers and banks to perform real-time transfers through electronic payment tools and provide appropriate banking services to all segments of society.

Table of Contents

1. Introduction
2. Definitions
3. Rules Regulating the Management of the Instant Payment Network Services
   3.1. Rules Related to Service Providers Implementing Real-Time Settlement Operations
   3.2. Responsibilities and Obligations of the Management and the Supreme Management
   3.3. Rules Governing the Compensation, Funding, and Financing of the Network
4. General Rules Regulating Banks Participating in the Instant Payment Network
   4.1. Obligations of Issuer Banks
   4.2. Obligations of Payment Service Provider Banks for the Instant Payment Network (PSP)
   4.3. Obligations of Acquirer Banks for the Instant Payment Network
   4.4. Services Available Prior to Joining the Instant Payment Network
5. General Rules
6. Responsibilities of the Participating Bank
7. Regulatory Oversight of Instant Payment Network Services
   7.1. Reporting and Information Exchange
   7.2. Infrastructure and Security Monitoring of the System
   7.3. Assessment of the System's Security
   7.4. Response to Incidents and Their Management
   7.5. Performance Evaluation and Operational Assurance
8. General Principles and Rules for Other Service Providers
9. Issuance of Licenses and Access

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