Arab Finance: The Central Bank of Egypt (CBE) is considering connecting InstaPay App to three Arab countries, Al Mal News reported.
The three countries are the UAE, Saudi Arabia, and Jordan.
This move will enable Egyptian expats in these Arab states to transfer money to local bank accounts.
In 2022, the CBE launched the Instant Payment Network (IPN) and InstaPay app which allow the conduction of online financial transactions instantly.
InstaPay is the first e-payment mobile application licensed by the Central Bank of Egypt (CBE) via the National Instant Payment Network.