Audi Bank Requests to Obtain ‘Money Transfer’ License from CBE

An official source in Audi bank revealed that the bank requested from the Central Bank of Egypt (CBE) to obtain ‘Money Transfer Via Mobile Phone’ license, pointing out that CBE is currently considering the request.

The source has informed Amwal Al Ghad in an exclusive that there are several banks which are considering the application of the license within the new year of 2014, but it did not requested officially from CBE until now.

Each of  National Bank of Egypt (NBE), Housing and Development, BNP Paribas banks have offered the license since last year in collaboration with the three mobile phone operators which are operating in the Egyptian market.

It is expected that the ‘Money Transfer via mobile phone’ license will meet with the banks during the coming period along with the proliferation of e-applications of banking services, which the banks are aiming to expand in order to allure new categories of customers and to boost its deposit portfolio.