CBE delays charging transfer fees on InstaPay

The Central Bank of Egypt (CBE) decided to delay imposing fees on transactions on the InstaPay application indefinitely.

The CBE previously announced that the number of InstaPay users is 6.2 million customers, and the number of transactions carried out on the application exceeded 350 million, with transaction values ​​exceeding LE 650 billion during the year 2023 alone.

Earlier this year, the CBE had previously mentioned that it would impose fees on transactions made via the app in early 2024.