Egypt Relaxes Rules On Mobile Money
The ultimate goal is to move towards a “less-cash economy” and greater financial inclusion, the CBE said in a statement released Wednesday, as it opens the door to mobile financial services including payroll, bill payment, collection of microfinance installments, and even government payments. First movers Paymob, which offers a mobile wallet of sorts, and DCB Egypt are likely to be the big beneficiaries of the central bank’s move to lighten regulations over this corner of the financial sector....