The Board of Directors of the Central Bank of Egypt decided to extend the validity of some of the decisions previously taken to confront the Corona pandemic, for a new period of 6 months, starting from the beginning of January until June 30, 2022.
And the Central Bank said in a statement, today, Thursday, that the decisions that have been extended for the new period include continuing to exempt customers from all expenses and commissions related to bank transfer services in the Egyptian pound, issuing e-wallets for free, and exempting citizens from all commissions and fees for transfers between mobile phone accounts and operations. Transfer between any mobile account and any bank account.
The decisions also include issuing prepaid cards to citizens free of charge, provided that these cards are “contactless” if the bank starts issuing this type of cards, and exempting citizens from all fees and commissions for cash withdrawal operations, provided that the card issuing bank bears those fees and commissions, and no This includes credit card returns.
According to the statement, the Central Bank and the banking sector have incurred nearly 9 billion pounds during the last period since the beginning of the pandemic to relieve citizens, and that the decisions that have been extended come within the framework of the Central Bank’s keenness to ensure the continuity of banks’ work in light of the continuous follow-up of the banking sector and to provide More facilitation for citizens and encouraging them to continue to use electronic payment methods and channels, in a way that supports the direction of the state and the Central Bank to transform into a society less dependent on banknotes.
The decisions that were extended include “continuing to exempt citizens from all fees and commissions related to cash withdrawals for pension exchange cards, and the Central Bank bears the cash withdrawal expenses for pension exchange cards from ATMs, whose approximate value is estimated at 60 million pounds during the indicated period” and increasing withdrawal limits. From other bank machines for all cards to 4000 pounds instead of 2000 pounds only.
The decisions also include the continuation and exemption of merchants from all fees for activating electronic collection services via the Internet (E-Commerce) in order to reduce the financial burdens on companies by exempting them from the expenses that were required from them to activate the electronic collection service via the Internet, such as (the fees that are paid once to activate the service The monthly service expenses, and additional services expenses. This exemption resulted during the previous period, increasing the number of e-commerce companies by nearly 100% of the number of new companies activated for the service.