May 2011: National Bank of Egypt approved money transfer via mobile. Service would start in July 2011 according to Minister of Communications and Information Technology Maguid Ossman (Video reference here).
March 2010: Al-Masry Al-Youm reported that NBE (National Bank of Egypt) approved mobile banking regulations while banks are responsible to ensure solvency of their distributors.
March 2010: Al-Masry Al-Youm interviewed asary marketing manager who unveiled that Masary:
-Negotiates with two banks (public and private)
-Will reach agreement within 3 months
-Considers raising capital to EGP 15 million
-Estimates mobile recharge market for EGP 2 billion
-May expand to KSA, Tunisia, Nigeria & Algeria
March 2010: Al-Masry Al-Youm published that BNP Paribas bank announced the following:
-Just got initial NBE approval (via Mobinil)
-Plan to start by mid-year
-Wait for final NBE approval
-Will provide the service via retail shops of mobile recharge-cards
February 2010 El-Ettihad UAE-based newspaper, announced that NBE had finalized mobile regulations for:
-Invoice payment
-Money transfer
-Bank/financial account access
including:
-Bank ATMs might be used
-Money transfer will be inside Egypt only
-Customer opens an m-account in bank to deposit
-No more than one bank account for the mobile number
-Foreigners will verify themselves
-Payers will verify themselves via many means
-Payments will not be initiated via SMSs
-SMSs will be used to confirm payments
The same UAE-based newspaper reported that:
-House & Development Bank, HSBC & BNP Paribas got initial approval.
-Misr & AlAhly public banks are considering applying.
-20~30% mobile banking annual growth is expected
Also, Pioneers Securities Egypt Managing Director said: "Mobile banking will:
-Allow stock owners to check/trade on their stocks
-Increase profitability of securities brokers"
February 2010, Reuters reported that:
-Only 10% of Egyptian population have bank account.
-BNP Paribas partners with Mobinil in m-Wallet
-m-Wallet will NOT be bank’s system fully integrated
-Orascom launched similar service in Pakistan
-Philippe Joannier, BNP Paribas Egypt CEO: “Egyptian Retail banking will take 10 years to develop“.
January 2010: Al-Masry Al-Youm quoted from the Ministry of Communications and Information Technology: "We are waiting for NBE regulations for money transfer via mobile in order to set tariffs with mobile operators. NBE denied to provide the service to Egyptians abroad".
News confirmed that Mobinil is about to ally with BNP Paribas while Vodafone Egypt is negotiating with anonymous bank. Etisalat Egypt is interested.
January 2010: The marketing manager of Masary expected in an interview with Al-Masry Al-Youm that:
-Mobile money transfer starts in 2010
-Starting only with money transfer, so customer charges her/his credit via mobile operators
-Postponing mobile purchases to analyze market trends with money transfer service
He also explained "Mobile purchases is done via Visa-like machines where cashier enters customer mobile number. Once s/he approve the transaction via SMS, the transaction is done".
November 2009: Youm7 newspaper announced that NBE didn't approve m-Banking yet and that Naguib Sawiris negotiates with NBE while the latter would postpone it for a while. Sawiris referred to Orascom experience in Pakistan operating mobile banking services there.
Hosam Qabbany who met NBE officials said: "mobile money trasnfer prevents money laundering among locally-transferred transactions and also eases people life since banks close earlier.
In 2009, EGP 35 billion were spent on mobile usage"
November 2009: Al-Masry Al-Youm quoted Naguib Sawiris saying mobile penetration increased, and growth is only valid in add-on application such as broadband and mobile banking. He said that his group applied for Pakistani bank acquisition but another bank won the deal.
Sawiris mentioned that mobile banking is mostly applied in low-amounts of money transfer and financing.
October 2009: Al-Sharq Al-Awsat covered mobile banking saying Kenya has 7 million subscribers in 2006. The report estimated by 2012 more than 364 million subscribers in developing countries.
For Egypt, it published that Vodafone Egypt allied with HSBC bank while MobiNil got National Bank of Egypt (NBE) approval for mobile banking services.
The report referred to future trend of mergers and acquisitions between banks and mobile operators. The report also featured Amr El-Alfy; the telecom research head in CI Capital Egypt.
November 2008: Al-Masry Al-Youm quoted Egypt Post for saying:
"No much much side effects from mobile banking.
Mobile operators have long path to compete us in money transfer
Money transfer via Egypt Post equals EGP 3 billion and serves 6 million customers".
While Vodafone Egypt called for global money transfer.
November 2008: According to El-Borsa publication, SNS referred to as providing mobile banking to 5,000 customers with Arab African International Bank (AAIB) via mobile application for both money transfer and financial operations.
By 2008: Expected 25,000 customers while SNS target is 1 million customers.
According to same publication, SNS uses interactive mobile services via digital signature that is ISO 270001 certified (costs EGP 700,000).
News confirmed that Mobinil is about to ally with BNP Paribas while Vodafone Egypt is negotiating with anonymous bank. Etisalat Egypt is interested.
January 2010: The marketing manager of Masary expected in an interview with Al-Masry Al-Youm that:
-Mobile money transfer starts in 2010
-Starting only with money transfer, so customer charges her/his credit via mobile operators
-Postponing mobile purchases to analyze market trends with money transfer service
He also explained "Mobile purchases is done via Visa-like machines where cashier enters customer mobile number. Once s/he approve the transaction via SMS, the transaction is done".
November 2009: Youm7 newspaper announced that NBE didn't approve m-Banking yet and that Naguib Sawiris negotiates with NBE while the latter would postpone it for a while. Sawiris referred to Orascom experience in Pakistan operating mobile banking services there.
Hosam Qabbany who met NBE officials said: "mobile money trasnfer prevents money laundering among locally-transferred transactions and also eases people life since banks close earlier.
In 2009, EGP 35 billion were spent on mobile usage"
November 2009: Al-Masry Al-Youm quoted Naguib Sawiris saying mobile penetration increased, and growth is only valid in add-on application such as broadband and mobile banking. He said that his group applied for Pakistani bank acquisition but another bank won the deal.
Sawiris mentioned that mobile banking is mostly applied in low-amounts of money transfer and financing.
October 2009: Al-Sharq Al-Awsat covered mobile banking saying Kenya has 7 million subscribers in 2006. The report estimated by 2012 more than 364 million subscribers in developing countries.
For Egypt, it published that Vodafone Egypt allied with HSBC bank while MobiNil got National Bank of Egypt (NBE) approval for mobile banking services.
The report referred to future trend of mergers and acquisitions between banks and mobile operators. The report also featured Amr El-Alfy; the telecom research head in CI Capital Egypt.
November 2008: Al-Masry Al-Youm quoted Egypt Post for saying:
"No much much side effects from mobile banking.
Mobile operators have long path to compete us in money transfer
Money transfer via Egypt Post equals EGP 3 billion and serves 6 million customers".
While Vodafone Egypt called for global money transfer.
November 2008: According to El-Borsa publication, SNS referred to as providing mobile banking to 5,000 customers with Arab African International Bank (AAIB) via mobile application for both money transfer and financial operations.
By 2008: Expected 25,000 customers while SNS target is 1 million customers.
According to same publication, SNS uses interactive mobile services via digital signature that is ISO 270001 certified (costs EGP 700,000).
October 2008: Al-Masry Al-Youm published "MobiNil with BNP Paribas applied for license". Also, SNS CEO said "We’ll provide mobile money transfer via AAIB (Arab African International Bank). We’ll compete mobile operators for competitive fees".
Estimation for 2007 mobile credit transfer reached EGP 3 billion.
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