Vodafone Egypt Seeks CBE’s Nod to Launch its ‘Gameeya’ Product

 An official source in Vodafone Egypt asserted that ‘Gameeya’ new service is one of money transfer via mobile phone services, noting the Central Bank of Egypt (CBE) thought that it is a new product, the company did not get the approval before launching the product in the market, so Vodafone is seeking now to get CBE’s approval to launch the service.

Housing and Development Bank (HDB) which contracted with Vodafone Egypt for providing money transfer services will call CBE to clarify the quality of service and not skipped with the criteria stated previously by the early of next week, the source said.

Speaking to Amwal Al Ghad Arabic’s Website the source said Gameeya service submitted to the same conditions and criteria that announced by CBE for money transfer services, adding that it includes periodic reminders to send the required amounts to the recipient who specified by the customer.

Central Bank was decided previously to stop Gameeya which announced by Vodafone since days as it did not obtain CBE’s approval for providing financial product in the market.

A maximum transferable amount has been specified by the Central Bank and the NTRA, with no more than 3000 EGP daily at 1000 EGP per transaction, and a maximum of 5000 EGP per month.

It is worth noting that Vodafone worldwide has previously launched similar services in Tanzania and Kenya where it witnessed great success and positively impacted the economic and social environments of those markets.