The Central Bank of Egypt (CBE) has signed an appendix to its 2004 Memorandum of Understanding (MoU) with the Central Bank of Jordan to enhance cooperation in the areas of banking supervision, electronic payment systems and services and financial technology activities. The MoU aims to reinforce cooperation and explore new horizons between the two countries, reflecting the efforts of CBE to promote the transition to a society less dependent on banknotes.
Gamal Negm, Deputy Governor of CBE and Khaldoun Al-Wishah, Deputy Governor of the Central Bank of Jordan, signed the MoU at the headquarters of CBE in Cairo in the presence of the leaders of CBE and Jordan.
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The agreement seeks to improve joint coordination between the two countries regarding electronic payment systems and services, including mobile phone payments, digital payments and related regulatory and supervisory technology. It also aims to enhance cooperation in the areas of financial technology, such as alternative financing, digital banks and regulatory and supervisory technology related to financial technology companies.
Furthermore, the agreement provides safe and proper means for electronic money transfers between the two countries and facilitates transfers of Egyptians working in Jordan to their families and relatives in Egypt. CBE and Jordan anticipate the agreement will support joint efforts to create a safe and efficient system for electronic payments in both countries and enhance areas of joint application towards the use of modern financial technologies and innovations.