What is the digital Egyptian pound, its value and advantages?

What is the digital Egyptian pound, its value and advantages?

The Director of the Cairo Center for Economic and Strategic Studies Abdel Moneim al-Sayed, reviewed the importance of the digital pound which the Central Bank of Egypt recently announced that it is about to issue. Sayed said during the “Sabah al-Balad” program on Tuesday that like its name implies, the digital pound will be the …

The post What is the digital Egyptian pound, its value and advantages? appeared first on Egypt Independent.The Director of the Cairo Center for Economic and Strategic Studies Abdel Moneim al-Sayed, reviewed the importance of the digital pound which the Central Bank of Egypt recently announced that it is about to issue.

Sayed said during the “Sabah al-Balad” program on Tuesday that like its name implies, the digital pound will be the electronic equivalent of the paper pound.

It is set to be dealt with on the electronic payment system, he explained, and is one of the state’s goals towards digital transformation and reducing use of paper cash transactions.

He added that the digital pound will be traded between wallets on mobile phones and electronic payment cards for government agencies and purchase cases.

Sayed assured that it is equal to the paper pound in its value and the serial number