Arab Finance: Banque Misr will launch, in cooperation with the UAE-based telecom operator e& Egypt, an e-payment company with capital of EGP 500 million before the end of 2023, two sources familiar with the matter told Asharq Business on September 12th.
e& Egypt will hold a 60% stake in the new company, while Banque Misr will own 40%, one source noted.
Earlier in April, it was reported that the bank is awaiting obtaining the licenses required to establish an e-payment firm.