The Central Bank of Egypt (CBE) announced signing a cooperation agreement with the National Telecommunication Regularity Authority (NTRA) and the National Organization for Social Insurance to help pensioners obtain their financial dues and proceed ahead with any banking transaction swiftly and easily.
A statement issued on Wednesday7/4/2021 said the agreement came per a decision by of the National Council For Payments in implementation of President Abdel Fattah El Sisi's directives to move toward devising a digitalized society incorporating e-techniques and advances in support of an overall financial inclusion and a digitalization scheme encompassing all state bodies.
CBE Deputy Governor Rami Aboul Naga, NTRA's Executive Director Hossam el-Gamal and Gamal Awad, Chairman of the National Organization for Social Insurance signed the agreement, the statement said.
They agreed to continue coordination to accelerate putting the agreement into effect, it added.
A number of electronic payment providers will operate under the system to facilitate financial payment measures for beneficiaries of the service, according to the statement.