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Wednesday, 22 May 2019

President Sisi chairs 3rd meeting of National Payments Council

MENA , Saturday 8 Sep 2018
Egypt
Egypt's President Abdel-Fattah El-Sisi chairs 3rd meeting of National Payments Council with ministers (Photo Courtesy of Egyptian Presidency)
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Egypt's President Abdel-Fattah El-Sisi on Saturday chaired the third meeting of the National Payments Council.

The prime minister, the governor of the Central Bank of Egypt (CBE), the head of the Intelligence Service, the chairman of the Administrative Control Authority, the head of the Financial Supervisory Authority and the ministers of defence, justice, planning, finance, interior and communications also took part in the meeting.

The chairman of the board of trustees of the Money Laundering and Terrorist Financing Combating Unit, the CBE deputy governors, the CBE undersecretary of payment systems and information technology, the chairman of the National Bank of Egypt and other CBE officials also attended the meeting.

Presidential spokesman Bassam Rady said CBE Governor Tarek Amer reviewed the executive position of the decisions and directives taken by the council, a general framework for a transition to a less cash-based society and measures taken to create a national system of payment cards.

The system will be put into force by the end of 2018, Amer said.

The CBE governor reviewed a bill for the development of non-monetary financial transactions as well as the most important developments of mobile payment services.

He affirmed the CBE's keenness on qualifying cadres specialized in the field of cybersecurity for banking services.

The finance minister reviewed efforts exerted to activate the government's financial network.

He explained salaries e-payment service has been activated by 100 percent for all government bodies.

The planning minister reviewed the ministry's efforts in preparing an integrated map for the development of government services.

The interior minister briefed the participants with the latest developments regarding a project to issue national ID cards with smart chips.

The council agreed to pass a bill regulating the non-monetary means of payment to cabinet for taking the necessary constitutional procedures to be submitted to the House of Representatives 

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