Central Bank postpones fee imposition on InstaPay indefinitely ...Egypt

The Central Bank of Egypt (CBE) on Thursday moved decided to postpone the imposition of fees on the InstaPay application indefinitely. The CBE also issued directives to banks participating in the InstaPay real-time payments network to postpone the collection of fees on transactions indefinitely. The Deputy Assistant Governor of the CBE in the banking operations and payment systems sector,  Ihab Nasr, stated during his participation in the Cairo ICT exhibition in November that the Central Bank would begin collecting fees on money transfers via the InstaPay application by early 2024. An official source at one of the banks explained that the CBE had issued a letter not to impose any fees on tra

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