Central Bank of Egypt launches EgyCash to enhance safety of cash in transit

EGYPT – The Central Bank of Egypt (CBE) has launched EgyCash, a new company which will provide services related to cash circulation, money transfer and ATM feeding across the country. CBE will contribute to the capital of the new company with a share of up to 35%, while banks, such as the National Bank of Egypt (NBE), Banque Misr, Banque du Caire and others will own the remaining share. Egypt’s Apex financial institution has already signed an agreement with the National Bank of Egypt and plans for signing of another…

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