CBE issues new rules for banks dealing with Cash-in- transit companies

The Central Bank of Egypt issued a Circular on 2 May 2024 regarding rules for banks dealing with Cash-in- transit companies in Egypt.

The statement contained instructions on the rules governing banks' dealings with money-moving companies within Egypt. The rules included security and operational procedures and standards that banks must comply with when contracting with eligible companies for the transfer of funds and related services from counting, feeding and maintenance of ATMs.

This is in the light of the Central Bank's endeavour to maintain the security and integrity of the transfers of funds and associated services from counting, feeding and maintaining ATMs and reducing the associated risks, and for the purpose of unifying the mechanisms used by banks and applying the highest standards of efficiency and security when dealing with them.