• Home
• News

The Central Bank of Egypt (CBE) has officially enabled instant cross-border money transfers into Egypt via the Instant Payment Network (IPN). Through a comprehensive global network of international agents and correspondents, beneficiaries in Egypt can now receive inbound remittances instantaneously via bank accounts, bank cards, or mobile wallets.

According to data obtained by the financial technology portal 'FinTech Gate,' this service empowers Egyptian expatriates to execute transfers through an extensive network of exchange houses, banks, and international correspondents equipped for instant routing to Egypt. The initiative is strategically designed to streamline the inflow of expatriate remittances, accelerate the transfer lifecycle, and maximize liquidity utility within the local market.

**A Growing Network of Global Correspondents**
The CBE’s official website outlines that customers can simply visit any participating agent or correspondent in their host country—or utilize the correspondent's digital application where available. After submitting the transfer details and verifying the beneficiary's information in Egypt, the funds are credited instantly to the beneficiary at any local Egyptian bank, entirely eliminating the waiting periods associated with traditional remittances.

**Instant Receipt 24/7**
Beneficiaries enjoy the flexibility of receiving funds via bank accounts, payment cards, or e-wallets. A standout feature of this new service is its 24/7 real-time processing capability, operating independently of official banking hours, weekends, or public holidays. This is particularly crucial for urgent financial needs. The CBE also noted that InstaPay users in Egypt can verify the credited amount the exact moment the transaction concludes.

**Supported Host Countries and Key Agents**
The service is currently live in major host countries including Saudi Arabia, the UAE, Kuwait, Qatar, Jordan, Oman, and Bahrain, facilitated by a robust network of banks and money transfer operators. Efforts are actively underway to onboard additional international correspondents.

The current approved agents include:
• **Saudi Arabia:** Al Rajhi Remittance, SNB QuickPay, Ersal Money Transfer, Arab National Bank (ANB), and Bank Albilad.
• **UAE:** Al Ansari Exchange, Al Fardan Exchange, LuLu Exchange, Al Sharq Exchange, Lari Exchange, and Al Dahab Exchange.
• **Kuwait:** Al Mulla Exchange, LuLu Exchange, Kuwait Bahrain International Exchange, Al Haram Exchange, Bahrain Exchange Company (BEC), Kuwait India International Exchange, Al Ansari Exchange, Aman Exchange, Al Muzaini Exchange, Wall Street Exchange, and Joyalukkas Exchange.
• **Qatar:** Al Fardan Exchange, Gulf Exchange, Qatar Islamic Bank (QIB), Islamic Exchange, and Arabian Exchange.
• **Jordan:** Alawneh Exchange, Musharbash Exchange, Dallah Sahem Exchange, Abu Sheikha Exchange, Zamzam Exchange, and Kamal Exchange.
• **Oman:** Bony Mony Exchange, Modern Exchange, and Bank Muscat.
• **Bahrain:** Bosphorus Exchange and Zenj Exchange.

Egyptian banks are continuously working to integrate new international agents into the service, expanding the footprint of real-time inbound remittances and providing Egyptian expatriates with faster, highly resilient channels to send money home.