Telecom Ministry ,CBE Review Issuing New Products for Egypt’s Post on Cabinet

An official source in the Egyptian Information and Communication Technology Ministry (MCIT) revealed that the Ministry and the Central Bank of Egypt (CBE) decided to issue Egypt’s Post for new financial products specialized for great customers on Cabinet to decide on whether or not issued.

The source has informed Amwal Al Ghad in an exclusive that Egypt’s Post decided to stop direct negotiations with CBE, stressing that ICT Minister, Eng. Atef Helmy is negotiating with CBE as he is the most representative for the telecommunication sector.

Egypt’s Post has faced the opposition of CBE to launch a numbers of new financial products as it did not submitted to the bank’s supervision , meanwhile Egypt’s post law stated its right to the issuance of any financial product without reference to the CBE.

Dr. Ashraf Gama El-Din, the Board of Directors of Egypt’s Post explained that the current account of the post whether golden or silver gives customers the highest return on a cumulative variable in Egypt on the deposited funds in this account, compared to the equivalents in other financial institutions.