Money Transfer Service Needs 3 Years to Get Egypt’s Consumers Trust

Many experts who work in the Information and Communication Technology (ICT) Sector have asserted that it is hard to marketing Money Transfer Via Mobile Phone Service within the current period, due to the ongoing political unrest situation in Egypt.

The experts added that the service is facing difficulty in marketing because of the hard political situation which it makes it difficult to convince clients will be adopted services related to the financial transactions especially in the time of turmoil.

Eng. Ashraf Sabry, CEO of Fawry Electronic Bill and Payment Services, said Money Transfer via mobile phone is affecting with the current events and political unrest which Egypt witnessed since June 30 demonstrations.

Sabry has noted that the service required three years in order to make consumers will realize and trust the service

The regulations which was put by the Central Bank of Egypt (CBE) revealed that the bank’s role is to keep cash deposits which related to issuing electronic money units and to be ensured from the agreement of these operations to combat money laundering and financing of terrorism issued by the central bank.