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Wednesday, 9 January 2019

CBE looks to make Takaful and Karama payouts available through Meeza

CBE looks to make Takaful and Karama payouts available through Meeza: The central bank is currently in talks with state-run electronic payments company E-Finance on making cash handouts under the Takaful and Karama social welfare programs available through the “Meeza” national debit cards, a source told Masrawy. Beneficiaries currently have specific cards for the Takaful and Karama programs, but these cards can only be used with machines at the post office. Making the handouts available through Meeza would allow beneficiaries to access their payments through any ATM machine.

Background: The central bank had said in September that it plans to roll out Meeza, a state-backed debit card, by December. The card, which comes as part of the government’s new e-payments drive, would make state benefits available electronically to pensioners, civil servants, and subsidy recipients.

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