The Finance Ministry began distributing almost 5 mn “Meeza” debit cards to public sector workers at the beginning of September as part of government efforts to increase financial inclusion, it said in a statement. Ten banks are participating in the scheme, including Banque Misr, the National Bank of Egypt, Banque du Caire, and CIB. The government originally planned for civil servants to begin receiving their salaries via Meeza at the beginning of August. It distributed some 18k point-of-sale machines to government entities and made it mandatory for government payments over EGP 500 to be paid electronically starting 1 May.
More from Enterprise
Banque du Caire’s blockbuster IPO holds firm against EGX selloff
The IFC and the EBRD are in for USD 100…
Electricity Ministry studies changing how your electricity bill gets calculated
The plan is still under study, and neither of the…
Egypt’s funds crossed EGP 500 bn in 3Q on retail money and a stalling core
Money market funds stalled while retail piled into equity, index,…
DPI closes Egypt-born fintech fund Nclude at USD 112 mn
The final close adds roughly USD 7 mn to a…