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Local transfers in the Egyptian pound will remain exempt from all fees and commissions until June 30th 2021, the Central Bank of Egypt (CBE) stated in a December 28th circular.

 

E-wallets will be issued for free, including the set up of virtual cards, the circular noted.

The CBE will continue to exempt money transfers via mobile banking apps from all fees and commissions.

 

Banks will keep issuing prepaid contactless cards for free, the statement added.

 

The waiver on fees and commissions for ATM withdrawals will remain applied, however, returns on credit cards will be excluded from this decision.

 

The CBE decided last September to extend the exemption period. The state entity first announced waiving fees and commissions for local transfers in March, followed by an extension in June.

 

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