ABK-Egypt Bank joins Instant Payment Network ‘InstaPay’

Al Ahli Bank of Kuwait – Egypt (ABK-Egypt) has joined the InstaPay mobile application, which allow clients to process electronic fund transfers instantly, seamlessly and at any time, sources with acknowledge told Amwal Al Ghad on Sunday.

Over the past two months, Abu Dhabi Islamic Bank – Egypt, HSBC, Faisal, Al Baraka, Al Masry for Export Development, Attijariwafa Bank, Arab International Bank joined InstaPay, the Central Bank of Egypt (CBE) said.

First 10 banks which joined InstaPay are the National Bank of Egypt, Banque Misr, Commercial International Bank, ALEXBANK, Qatar National Bank, Arab Bank, Arab African Bank, Banque du Caire, Egyptian Gulf Bank, and the Arab Banking Corporation.

Last March, CBE has announced the official launch of the national system for the real-time payment network and the InstaPay application for banking sector customers.