Fawry Plus signs with 13 major Egyptian banks to offer banking services

E-payments outlet Fawry Plus signed contracts with 13 local banks, including CIB and the National Bank of Egypt, to start offering limited banking services to the banks’ customers before year-end, a source from the company told Al Mal. The service will initially allow bill payment and access to smart wallets, but will not cover direct withdrawals and deposits. Fawry Plus had recently acquired a license from the CBE to launch the service as the latter moves to expand mobile banking services as part of the government’s transition towards a “cashless economy.”