Standards for Issuing and Accepting Contactless Electronic Payments in the Arab Republic of Egypt

The Central Bank of Egypt establishes minimum standards for banks operating in Egypt to safely issue and accept contactless electronic payments. The document mandates that bank boards of directors approve strategies, analyze risks, and implement monitoring procedures for these services. It requires compliance with Anti-Money Laundering (AML) laws, specifically Law No. 80 of 2002, and information security protocols. These rules apply to all local banks and foreign bank branches, serving as a baseline that institutions must exceed through comprehensive risk management.

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Standards for Issuing and Accepting Contactless Electronic Payments in the Arab Republic of Egypt

Contactless Payments Standards for Issuing and Accepting Contactless Electronic Payments in the Arab Republic of Egypt

Page	Section
5	Introduction
6	General Definitions
7	-1 NFC Technology
8	-2 Responsibilities and Obligations of the Board of Directors and Senior Management
9	-3 AML/CFT Rules and Information Security
10	-4 Rules for Issuing Contactless Payment Instruments
12	-5 Rules for Accepting Contactless Payments
14	-6 Reporting of Unusual Transactions
15	7 - Technical Requirements for Contactless Payment Service Providers
16	-8 Procedures for Obtaining Licenses to Provide the Service

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Lineage: In force

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Source: Central Bank of Egypt — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works