Central Bank of Egypt to Allow Gulf Remittances via InstaPay by Year’s End ...Egypt

The Central Bank of Egypt (CBE) announced that Egyptians residing in Gulf countries will soon be able to transfer money directly to Egypt through the InstaPay application, with the service expected to roll out by the end of 2024. The announcement was made by Ehab Nasr, Assistant Sub-Governor for Banking Operations and Payment Systems, during the 11th “PAFIX” Conference on electronic payments and financial inclusion held on 18 November. Nasr emphasized that the platform’s robust technological infrastructure can accommodate transactions from any country, ensuring secure and efficient money transfers. Transfers will be exclusively received in Egyptian pounds, with fees determined by individu

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Central Bank of Egypt to Allow Gulf Remittances via InstaPay by Year’s End ...Egypt

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