CBE: Banking sector bore EGP 4.7 exemptions prompted by anti-coronavirus decisions
Thursday، 24 June 2021 - 02:09 PM
The banking sector bore more than EGP 4.7 billion exemptions due to preventive decisions taken to fight coronavirus pandemic in order to make it more easier for citizens and encourage them to use electronic payment means in line with State's tendency to to make the community less dependent on banknotes, said an official source at the Central Bank of Egypt (CBE).
In statements to MENA, the source said the CBE decided yesterday to extend these exemptions until the end of 2021 at the directives of President Abdel Fattah El Sisi to ease burdens on citizens and boost national economy.
These exemptions come as part of the decisions taken to face COVID 19 which included exempting the clients from all the expenses and commissions on bank transfers in Egyptian pound, issuing e-wallets for free and cancelling all fees on transfers between cell phone accounts and any bank account, the source said.
The decisions also included cancelling any fees on the withdrawal operations with pension exchange cards and the Central Bank bears the expenses of cash withdrawals for these cards from ATMs, whose value ranges from approximately 60 million to 70 million pounds during the aforementioned period, the source said.