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Egypt needs internet regulations to develop mobile banking policy: Bankers - Daily News Egypt

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Egypt needs internet regulations to develop mobile banking policy: Bankers

ATM users were at 5% before 25 January 2011, but now reached 30%, says Trabeek


Banks are interested in launching new branches in Cairo and Alexandria, according to Himanshu Shrimali, head of retail banking at the Arab African International Bank.

Shrimali said banks should improve customer services in branches through launching more channels like e-banking and mobile banking. Shrimali noted that there is a pressing need for internet regulations in Egypt, which would facilitate launching mobile or mobile banking.

“Setting regulations regarding internet reduces the risk regarding internet banking,” he added.

CIB has a large number of mobile banking users, and a mobile banking policy needs to be invested, according to Mohamed El Toukhy CEO of Consumer Banking at CIB.

El Toukhy said CIB has branches in every Egyptian city, and integration between ATM, internet banking and mobile banking may be achieved in the near future.

El Toukhy added that Egyptian banking requires further ATM infrastructure, as ATMs play an important role in the economy.

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https://dailyfeed.dailynewsegypt.com/2015/11/03/egypt-needs-internet-regulations-to-develop-mobile-banking-policy-bankers/
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