Egypt govt. partners with NBE to expand ATM network across youth centres

Egypt’s Ministry of Youth and Sports signed a cooperation protocol with the National Bank of Egypt (NBE) to install automated teller machines (ATMs) across youth centers and affiliated facilities nationwide in support of the country’s financial inclusion efforts.

Under the agreement, NBE will install ATMs at designated youth facilities in line with specific technical standards, while the ministry will provide suitable spaces and secure the necessary legal permits. The machines will be maintained and refilled on a 24-hour basis.

The protocol also stipulates that the bank will pay an annual usage fee for each location, as set by the ministry and subject to periodic review. The fee will increase annually starting from the second year.

The agreement will run for three years, renewable, with separate contracts signed for each location in accordance with guidelines issued by the Central Administration of Youth Centres and approved by the Minister of Youth and Sports, following directives from the Cabinet.

Attribution: Amwal Al Ghad English
Subediting: M. S. Salama