NEWS
Central Bank of Egypt issues new decrees to support the digital transformation strategy
Within the framework of Egypt ’ s Vision 2030 to support digital transformation , the Central Bank of Egypt ’ s Board of Directors issued a set of decrees that include exempting customers from all fees and commissions related to bank transfer services executed via electronic channels ( internet banking and mobile banking applications ) in Egyptian pound , as well as waiving all fees and commissions related to banks ’ transfers within the Instant Payment Network .
The issued decrees – effective as of January 2024 – come in alignment to the CBE ’ s continuous efforts to incentivise individuals to expand their use of digital financial services , and leverage from its wide range of benefits , as well as the availability of banking services from anywhere and in a timely manner . Consequently , the usage of digital financial services contributes to the country ’ s digital transformation towards a less-cash society and promotes financial inclusion .
It is worth mentioning that the Instant Payment Network – launched in April 2022 – is one of the most significant infrastructure projects for payment systems sponsored by the CBE , to act as an integrated alternative to cash payments , allowing the instantaneous execution of all banking transfer services 24 / 7 .
The Instant Payment Network witnessed a substantial growth in the transactions volume carried out through it , reaching 404 million transactions , worth EGP 815bn via ‘ InstaPay ’ application and electronic banking channels , with the number of service users exceeded 6.5 million .
Schwab launches thinkorswim ‘ Guest Pass ’
Schwab has announced the launch of thinkorswim Guest Pass , a programme that provides 30-day trial access to the thinkorswim trading platform suite without the need for a Schwab account . The firm also announced a new set of enhancements to the trading features and functionality on Schwab . com and Schwab Mobile .
thinkorswim Guest Pass allows traders who are not clients of Charles Schwab to take 30 days to explore and test drive the thinkorswim trading platforms – thinkorswim web , thinkorswim desktop and thinkorswim mobile – in a simulated market environment called paperMoney . With Guest Pass , those who have been interested in thinkorswim or trading in general can use US $ 100,000 of simulated buying power in a taxable account , IRA , or portfolio margin account to test their strategies or even experiment with asset classes like futures and forex using thinkorswim ’ s industry-leading trading , analysis and charting tools .
“ Towards the end of 2023 , we introduced Schwab Trading Powered by Ameritrade , a new trading experience made possible by the combination of two of the industry ’ s most innovative firms , and now we ’ re continuing the momentum in the trading space with the launch of Guest Pass ,” said James Kostulias , Managing Director and Head of Trading Services , Charles Schwab . “ We believe wholeheartedly in the power and strength of the thinkorswim platforms to deliver a world-class trading experience , and Guest Pass gives people the opportunity to experience it for themselves in a risk-free environment .”
Existing Schwab clients who want to test out thinkorswim have access to the thinkorswim paperMoney simulated trading environment , which provides a similar experience for clients who want to see the platforms ’ capabilities in action . �
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