{"id":323814,"date":"2021-11-08T08:50:38","date_gmt":"2021-11-08T08:50:38","guid":{"rendered":"https:\/\/egy-africa.com\/en\/?p=323814"},"modified":"2021-11-08T08:50:38","modified_gmt":"2021-11-08T08:50:38","slug":"cbe-issues-rules-for-instant-payment-network-services","status":"publish","type":"post","link":"https:\/\/egy-africa.com\/en\/2021\/11\/08\/cbe-issues-rules-for-instant-payment-network-services\/","title":{"rendered":"CBE issues rules for instant payment network services"},"content":{"rendered":"<p>The Central Bank of Egypt&#8217;s (CBE) board of directors approved\u00a0the regulations governing the instant payment network (IPN) services in Egypt as\u00a0part of its efforts towards reducing the usage of cash in the economy.<\/p>\n<div id=\"Outstream\"><\/div>\n<p>Under the regulations, banks are required to\u00a0complete all tests related to their IPN within a period not exceeding\u00a0six months and activate their transfer services for the IPN using internet banking and mobile banking services within a year, according to a statement on Sunday.<\/p>\n<p>These rules are defining the framework for banks\u00a0and mobile payment service providers in relation to the\u00a0IPN which will allow instant payments\u00a0through electronic payment methods.<\/p>\n<p>The CBE said that the maximum limit of a single transaction amounts to EGP 50,000, while the\u00a0maximum limits of daily and monthly transactions are EGP 60,000 and EGP 200,000, respectively.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Central Bank of Egypt&#8217;s (CBE) board of directors approved\u00a0the regulations governing the instant payment network (IPN) services in Egypt as\u00a0part of its efforts towards reducing the usage of cash in the economy.\u00a0<\/p>\n","protected":false},"author":4,"featured_media":321424,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[22,33],"tags":[222],"class_list":["post-323814","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking","category-main","tag-central-bank-of-egypt-cbe"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.3 - 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