Egypt’s CBE launches web portal for mobile phone wallet management

The Central Bank of Egypt (CBE) approved Wednesday the launch of the electronic portal for managing mobile phone wallet accounts, in cooperation with the National Telecommunications Regulatory Authority.

The CBE clarified in a statement that the citizen can, through the portal, make an inquiry about any electronic wallet registered with his mobile phone number, as well as unsubscribe from the wallet for free and without the need to visit the branch in preparation for changing the service provider.

Deputy Governor of the CBE, Ramy Abul-Naga, stated that the establishment of the electronic portal came in light of the keenness of the Central Bank of Egypt to provide more electronic digital financial services that are easy and flexible to suit all spectrums of society, and in a manner that supports the efforts of the state and its various institutions in achieving financial inclusion and transformation towards a digital society that is less dependent on cash, within the framework of implementing the vision and decisions of the National Payments Council headed by President Abdel Fatah al-Sisi.

The launch of the electronic mobile wallet accounts management portal represents a new addition to the characteristics and advantages of the national payment system "Meeza" managed by the Egyptian Banks Company, and it will have a positive impact on the market for payment services using the mobile phone in particular and electronic and digital payments in general..