What Egypt Central Bank and Banking Sector Law No. 194 of 2020 - Payment Systems, Services and Financial Technology (Part Four) requires
Law No. 194 of 2020 promulgating the Law of the Central Bank and the Banking Sector is Egypt's comprehensive banking statute (241 articles in seven parts), issued on 15 September 2020 and entering into force the day after publication; it repealed Law No. 88 of 2003 on the Central Bank, the Banking Sector and Monetary System. Part Four (Payment Systems, Services and Financial Technology, Articles 184 onward) provides the statutory basis for fintech and payments supervised by the Central Bank of Egypt (CBE): no person may operate a payment system or provide payment services without a CBE licence (Article 184); the Board of Directors sets licensing conditions and fees (Article 185) and rules for oversight, governance, risk management and client-fund safeguarding (Article 186); payment service providers may use registered agents but remain fully liable for them (Article 189); the CBE may establish a regulatory sandbox and temporarily exempt fintech and regtech pilots from certain licensing requirements (Article 201); the Board sets standards for electronic applications accessing customer accounts at banks or providers (Article 202, the open-banking-style access basis); and issuing, trading, promoting or operating cryptocurrency or electronic-money platforms is prohibited without a Board licence (Article 206). Detailed sandbox, BNPL, open-banking and incident-reporting requirements are set in CBE Board regulations and circulars issued under the Law, not in the Law's articles themselves.
Pillar: Banking & Global Finance · Authority: Central Bank of Egypt · Version: 1.1.0 · Last updated:
Primary source: https://eg.andersen.com/wp-content/uploads/2025/07/banking-law-no-194-of-2020.pdf
SHA-256 integrity: 650fff9890bb24c0f4354ce0ac6684b3a7bed287c09d30be89b1ced8548d3027
Primary Citations — 6 traced to source
- Law No. 194 of 2020 promulgating the Law of the Central Bank and the Banking Sector (issued 15 September 2020; repealed Law No. 88 of 2003), https://eg.andersen.com/wp-content/uploads/2025/07/banking-law-no-194-of-2020.pdf - Part Four (Payment Systems, Services and Financial Technology)
- Law No. 194 of 2020, Articles 184-186 - prohibition on unlicensed payment-system operation/payment services; CBE Board licensing conditions, fees and oversight, governance, risk management and client-fund safeguarding rules
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