In Arabic, the Central Bank of Egypt, said in the third version of the organized rules of providing mobile payment services. / p>
Electronic Finance Management
He added that the bank is a source of electronic money units, and a system of managing electronic money records is fully, accurate and continuous, and these records illustrate the value of exporters, regime users, service providers and the accounting balance of them total of these balances.
"This system is monitoring the movement of electronic money units, and issuing detailed reporting reports on payment orders, linking operations with system users and service providers. The system deficit represents correct reports - both intentionally or intentionally - disagreement of these rules.
The central bank said, every electronic money unit should be equated in the mobile payment service using a cash value equal to one Egyptian pound.
Cash Cover
He said electronic money units were issued uniasured if the Bank retains cash deposits at the Egyptian pound at least the value of exported units. The Central Bank of Egypt is monitoring the licensed bank's inspection and ensuring that the value of units exported by the bank Do not exceed cash deposits in the Egyptian pound held for this purpose.
The Bank explained that the Bank should in the light of its assessment of the risks associated with the service, a maximum appropriate for electronic money units exported that the central bank shall be briefed at each change.
Electronic money properties
The rules developed a definition of electronic money units as follows: cash equivalents equivalent to only Egyptian pound units without other currencies issued by a registered bank at the Egyptian Central Bank, and these units represent the exporter of its exporter, provided that the bank received value of criticism Al-Masri) is not less than the value of electronic money units, and these units are the following settings:
Stored on electronic devices or media.
- Accept as a means of payment by other persons or other sides, in addition to its exporter.
- Replacement to criticism (Egyptian pound).
- Export in accordance with the rules of the Central Bank of Egypt provided a license from the Egyptian Central Bank to operate the system.
