The board of Egypt's Telecommunication Regulatory Authority (TRA) is discussing the launch of money transfer services via mobile phone, once mobile phone companies obtain the necessary approval from the Central Bank of Egypt (CBE), according to a TRA source.
The source added that the board would also set tariffs for the service following discussions with mobile phone companies.
Mobile phone provider MobiNil last month announced that the TRA had yet to give the green light for the service's launch, even though the initiative had already received the approval of the CBE.
The company expected the TRA to give the go-ahead for the project by the end of September.
Once the first phase of the service is launched, subscribers will only be able to transfer money to other subscribers of the same mobile phone provider. Later, however, the service will be fully integrated between rival providers.
Translated from the Arabic Edition.
