The number of financial services companies raised from 32 to 177 companies, which contributed to attracting $800 million from 2017 to 2022,
InstaPay is expected to roll out the remittance services in the first half of 2024
The Central Bank of Egypt (CBE) had previously reported that the volume of cashless transactions in Egypt increased by 46% in 2023, reaching EGP 10 trillion.
Sarhan stated that e-Finance is looking to obtain the license considering the group's extensive experience in financial technology, and added that it is studying the license’s requirements with its local and international partners
Sabry told the news outlet that the KSA is a promising market with high financial solvency and strong competition in the field of epayments