CBE launches electronic payment initiative to curb corona virus

The Central Bank of Egypt (CBE) on Saturday launched a new initiative to encourage citizens to expand using electronic payment means as part of efforts to curb the coronavirus outbreak.

The Middle East News Agency (MENA) reported a CBE official saying that the initiative allows citizens to get free prepaid cards and mobile phone wallets for six months.

He added the initiative also enables new and existing bank customers to make transfers, purchases and cash withdrawals from ATMs for free.

On Friday the CBE issued instructions to banks to amend the maximum limits for using credit and prepaid cards, extending to LE30,000 per day and LE100,000 per month for individuals, and for legal persons LE40,000 per day