CBE: Replacement of 6 million pension cards with Meeza cards, and the replacement of the remaining cards is ongoing

The Central Bank of Egypt has announced the completion of replacing approximately 6 million pension cards with a card from the national payment system Meeza, and the replacement of the remaining cards is currently in progress.

This was revealed in a report from the Economic Magazine issued by CBE, in implementation of decisions issued by the National Payments Council, chaired by President Abdel Fattah El-Sisi, regarding the adoption of a national branded payment system for government payments.

The project of replacing and renewing pension cards with Meeza national payment card is being executed, aiming to integrate pension beneficiaries into the banking sector and enable them to access their services, achieving financial inclusion goals and ensuring easy, fast, and secure access to their entitlements.

The report also highlights the provision of various channels and electronic payment and collection tools for pension recipients through the replacement and renewal of government pension cards (6.5 million cards) with Meeza cards.

The report from the Economic Magazine issued by CBE clarifies that a total of 30 million cards carrying the national brand Meeza have been issued through 25 banks until the end of September 2022.

This is in line with the decisions to enhance CBE's initiative to establish a national branded payment card system and empower its holders to use it for various financial services to integrate them into the financial system.

The number of banks licensed to issue cards carrying the national brand Meeza has reached 28 banks in the Egyptian banking sector.

CBE has succeeded in deploying 5600 new ATMs within the provinces of the Republic by the end of September 2022. This is part of the bank's efforts to enhance the efficiency and effectiveness of the infrastructure of payment systems and services for the banking sector, especially for ATM machines spread throughout the Arab Republic of Egypt. This supports the optimal use of the infrastructure within the Arab Republic of Egypt.

CBE has launched an initiative to deploy 6500 ATMs in provinces facing a shortage of ATM machines, in collaboration with 26 banks within the Arab Republic of Egypt.