The Central Bank of Egypt (CBE), in cooperation with the Ministry of Finance, has managed to replace 4.1m out of 4.3m employees’ payroll slips with Meeza cards so far, with the rest expected to be issued by the end of 2022.
This comes within the framework of the state’s efforts to expand reliance on electronic financial transactions and encourage state workers to use electronic payment methods in a way that supports the state and the CBE’s goal to wean Egyptian society off its reliance on banknotes.
This comes within the framework of implementing the strategy of the National Payments Council that is headed by President Abdel Fattah Al-Sisi to support the transition to a digital economy and to provide easy and convenient electronic payment and collection services in a way that enhances financial inclusion.
It also comes in light of decisions issued by the National Payments Council to rely on a nationally branded payment system for government payments in order to ensure the independence of government payment systems and services.
In continuation of efforts to stimulate the expansion of electronic financial transactions, a new banking service has been created that provides additional advantages to state employees’ Meeza cards, which allows them to use up to 30% of their salary’s value in advance through electronic points of sale or online websites.
It should be noted that the CBE launched several initiatives to develop the infrastructure for payment systems and services, the most important of which is the electronic payment initiative, which allowed an increase in the number of electronic points of sale across the country to more than 800,000 and achieved a great leap in improving citizens’ access to electronic transactions with all categories of merchants and companies within the country.