Dr.Amr Badawi, CEO of National Telecommunication Regulatory Authority (NTRA), has revealed that the mobile operators have granted written license in order to activate mobile money transfer service.
Badawi added to Amwal Al Ghad that the three mobile phone operators Vodafone, Mobinil and Etisalat have waited for providing services until obtaining the written license, noting that the companies are ready now to activate the service according to the readiness of their own systems and the required time so as to employ these systems with the license need.
The Information and Communication Technology Ministry (MCIT) has announced in the last mid-April to provide mobile money transfer services within the Ministry’s five-year strategy 2013-2017.
According to the Central Bank of Egypt, there are laws and regulations which will regulate mobile money transfer service and will depend on the banks in following up the operator systems.
The bank required from the service to not to exceed more than EGP 3.000 daily and EGP 5.000 monthly,and the electronic money should be stored on hardwares.
The National Bank of Egypt , Housing and Development Bank and BNP Paribas Bank have obtained the approval of the Central Bank to provide mobile money transfer service, in cooperation with the three mobile operators.
