{"id":574748,"date":"2020-09-21T04:02:46","date_gmt":"2020-09-21T04:02:46","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2020\/09\/21\/fawry-receives-cbe-approval-for-bank-transfer-service\/"},"modified":"2020-09-21T04:02:46","modified_gmt":"2020-09-21T04:02:46","slug":"fawry-receives-cbe-approval-for-bank-transfer-service","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2020\/09\/21\/fawry-receives-cbe-approval-for-bank-transfer-service\/","title":{"rendered":"Fawry receives CBE approval for bank transfer service"},"content":{"rendered":"

<\/a> Fawry gets CBE nod to partner with state-owned bank for transfer service<\/strong>:<\/strong> E-payments platform Fawry has received preliminary approval from the Central Bank of Egypt (CBE) to set up a bank transfer service for Egyptian expats; the service will be offered in partnership with an unnamed state-owned bank, CEO Ashraf Sabry tells Al Mal<\/a>. Fawry has been in talks<\/a> with several local and regional banks \u2014 including the National Bank of Egypt (NBE), Bank of Alexandria, Banque du Caire, and ADIB \u2014 to set up the remittances service for Egyptians living in the Gulf since last year, former managing director Mohamed Okasha said in December, saying at the time that the service would initially be rolled out in the UAE, Kuwait, and Saudi Arabia. Remittances, particularly from expats in the GCC, are a key source of foreign currency for Egypt and helped to narrow<\/a> its current account deficit through the worst of the pandemic in 3Q2019-2020.<\/p>\n

Could Fawry be teaming up with NBE on the service?<\/strong> The country\u2019s largest bank has been working<\/a> to speed up remittance payments through an agreement with currency exchange network Ripple<\/a>. The NBE also expanded<\/a> its internet banking platform and mobile banking app, introducing payment services through Fawry and other platforms.<\/p>\n

In other news from the industry:<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Fawry gets CBE nod to partner with state-owned bank for transfer service: E-payments platform Fawry has received preliminary approval from the Central Bank of Egypt (CBE) to set up a bank transfer service for Egyptian expats; the service will be offered in partnership with an unnamed state-owned bank, CEO Ashraf Sabry tells Al Mal. Fawry […]<\/p>\n","protected":false},"author":1,"featured_media":574749,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[469,1139,726,707,104,72,519,1304,248,2380,2985],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-574748","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round","tag-abu-dhabi-islamic-bank","tag-alexbank","tag-banque-du-caire","tag-blockchain","tag-economy","tag-enterpriseam","tag-fawry","tag-gcc","tag-national-bank-of-egypt","tag-speed-round","tag-transfers","wpautop","entry"],"acf":{"mongo_id":"bf938e40-6e17-4f83-bc18-91f04a41016e","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2020\/9\/219.jpg","photo_position":"above","related_issue":[574743],"teaser":"","voice_url":""},"yoast_head":"\nFawry receives CBE approval for bank transfer service - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2020\/09\/21\/fawry-receives-cbe-approval-for-bank-transfer-service\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Fawry receives CBE approval for bank transfer service\" \/>\n<meta property=\"og:description\" content=\"Fawry gets CBE nod to partner with state-owned bank for transfer service: E-payments platform Fawry has received preliminary approval from the Central Bank of Egypt (CBE) to set up a bank transfer service for Egyptian expats; the service will be offered in partnership with an unnamed state-owned bank, CEO Ashraf Sabry tells Al Mal. Fawry […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2020\/09\/21\/fawry-receives-cbe-approval-for-bank-transfer-service\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2020-09-21T04:02:46+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2020\/9\/219.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/09\/21\/fawry-receives-cbe-approval-for-bank-transfer-service\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/09\/21\/fawry-receives-cbe-approval-for-bank-transfer-service\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Fawry receives CBE approval for bank transfer service\",\"datePublished\":\"2020-09-21T04:02:46+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/09\/21\/fawry-receives-cbe-approval-for-bank-transfer-service\/\"},\"wordCount\":220,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/09\/21\/fawry-receives-cbe-approval-for-bank-transfer-service\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2020\/9\/219.jpg?fit=%2C&ssl=1\",\"keywords\":[\"Abu Dhabi Islamic Bank\",\"Alexbank\",\"Banque du Caire\",\"blockchain\",\"economy\",\"EnterpriseAM\",\"Fawry\",\"GCC\",\"National Bank of Egypt\",\"SPEED ROUND\",\"TRANSFERS\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/09\/21\/fawry-receives-cbe-approval-for-bank-transfer-service\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2020\/09\/21\/fawry-receives-cbe-approval-for-bank-transfer-service\/\",\"name\":\"Fawry receives CBE approval for bank transfer service - 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