CBE Extends Fee Waivers to Boost Digital Financial Services

The Central Bank of Egypt (CBE) has announced the extension of fee and commission exemptions for transfer services via the InstaPay app and the national instant payments system for an additional three months, effective January 1, 2025.

Similarly, exemptions for all fees on bank transfers conducted through electronic channels—such as internet and mobile banking in Egyptian pounds—have also been extended.

These measures aim to encourage the adoption of digital financial services, allowing citizens to conduct fast and convenient transactions anytime and anywhere. This initiative aligns with Egypt's strategy to reduce reliance on cash and promote financial inclusion.

Since its launch in April 2022, the national instant payments system has become a cornerstone of Egypt's payment infrastructure, offering a seamless alternative to cash payments with 24/7 instant transfers.

The system recorded nearly 1.5 billion transactions worth LE 2.9 trillion in 2024 and now serves around 12.5 million users.