Regulatory Alerts2021-08-03
Added · Updated
Rules Regulating the Interoperability of Cash Deposit and Withdrawal Services through Service Providers
The Central Bank of Egypt establishes rules to regulate cash deposit and withdrawal services provided by service providers within the Arab Republic of Egypt, aiming to increase the spread of cash points and mitigate associated risks. The document defines key terms including eligible banks, payment service providers, and various payment instruments such as prepaid credit/debit cards, mobile wallets, and wearables. It outlines the roles of authorized banks, issuing banks, and acquiring banks in ensuring compliance with regulatory standards for electronic payment transactions.