Detailed overview
Egypt at a glance
Egypt (population approximately 110 million) is the Arab world's most populous market and one of MENA's largest payments and digital-banking markets. Until 2025, Egypt operated under a permissive grey-zone framework for crypto. The Central Bank and Banking Sector Law No. 194 of 2020 (in force) is the master statute for monetary policy, banking, payments, fintech, e-money, and (by Article 206) crypto-asset prohibitions. The CBE has been the lead regulator for these areas since 2020.
Crypto position: the CBE issued its First Warning Statement in January 2018, followed by warnings in 2021, 2022, and the Fourth Warning Statement in March 2023. In 2025, after a surge of online crypto investment advertisements targeting Egyptians, the CBE reiterated its position. Despite the ban, an estimated 3 million Egyptians own cryptocurrency through offshore platforms accessed via VPN.
Religious context: in 2018, Egypt's Grand Mufti issued Religious Decree No. 4205 through Dar al-Ifta declaring cryptocurrency transactions haram (forbidden under Islamic law). The fatwa is non-binding but reinforces the secular ban.
Payments reform: the CBE issued comprehensive Rules for Licensing and Registration of Payment System Operators and Payment Service Providers on 19 June 2025, in force with a 12-month transition period ending June 2026. These rules give effect to Law No. 194 of 2020 and implement the Payment Systems and Services Oversight Policy issued in March 2024.
Gambling reform: in February 2026, Parliament's Communications and Information Technology Committee announced new legislation to block offshore betting platforms (notably 1xBet) and penalise users accessing banned platforms.
Last verified: May 2026. Reference rate: EGP 52.90 = USD 1.
Egypt's PSP regime is one of the most rigorous in MENA, with extraterritorial reach. Crypto remains fully prohibited. Gambling is foreigners-only land-based.
Is there a crypto licence in Egypt?
No retail crypto licence is available. Article 206 of Law No. 194 of 2020 prohibits the issuance, trading, promotion, and platform operation for crypto assets without CBE approval. No approvals have been granted since 2020.
The legal foundation:
- Central Bank and Banking Sector Law No. 194 of 2020, Article 206: prohibits issuance, trading, promotion, or operating any platform dealing with crypto assets without prior CBE approval. Empowers the CBE to issue regulations governing crypto licensing if it chooses to do so.
- CBE Warning Statements: 2018, 2021, 2022, and the Fourth (4th) Warning Statement of 8 March 2023, with reiterated 2025 advisories.
- Religious Decree No. 4205 of Dar al-Ifta (28 December 2017, announced 2018): declares crypto transactions haram under Islamic law (non-binding).
- Telecommunications Regulatory Authority: blocks websites of international crypto exchanges and crypto-related content.
- Ministry of Interior: conducts raids on suspected mining operations and investigates crypto-related fraud.
Stablecoins, NFTs, security tokens, ICOs and STOs all fall within the Article 206 prohibition unless the CBE specifically licenses an activity (none disclosed). Individual ownership of cryptocurrency by Egyptian residents is not explicitly criminalised, but all activities around it (trading, promoting, operating platforms) trigger Article 206 penalties.
Penalties for unlicensed activity under Article 206:
- Imprisonment
- Fines from EGP 1 million to EGP 10 million (about USD 19,000 to USD 189,000)
- Asset confiscation (cryptocurrencies, mining equipment, related assets)
- Platform shutdowns and blocking
There is no crypto-specific tax framework; profits from prohibited trading would be treated as undeclared income or proceeds of prohibited activity. There is no CBDC or public blockchain sandbox in Egypt.
CBE Cross-border Regulatory Reach (Article 184)
Critical extraterritorial scope.
Article 184 of Law No. 194 of 2020 prohibits natural and juristic persons from conducting payment activities or providing payment services to Egyptian residents without a CBE licence. The licensing requirement extends to PSPs and PSOs operating from abroad and targeting Egyptian residents. This is an effects-based extraterritorial approach, departing from the CBE's traditional territorial supervision model. Foreign PSPs must be regulated in their home jurisdiction to standards equivalent to the Principles for Financial Market Infrastructures (PFMI).
This extraterritorial principle is the foundation of CBE oversight not just of payments but also (by Article 206) of crypto promotion and trading aimed at Egyptian residents from offshore.
Is there a payments licence in Egypt?
Yes. The CBE issued comprehensive PSP/PSO Licensing and Registration Rules on 19 June 2025, in force with a 12-month transition period ending June 2026.
The Rules give effect to Law No. 194 of 2020 and implement the Payment Systems and Services Oversight Policy of March 2024. They apply to both domestic and foreign-based payment institutions providing services to clients in Egypt, including:
- Cash deposits and withdrawals from payment accounts
- Execution of payment transactions and funds transfers
- Issuance of payment instruments and electronic acceptance channels
- Sending and receiving remittances in EGP
- Payment initiation services
- Account information services
The CBE follows a 90-day decision window for prior approval. After receiving prior approval, applicants may proceed to apply for the PSO or PSP licence proper.
CBE Payment Service Provider Licence – Category A
Best for full-scope payment service providers without monthly transaction caps.
What it is: CBE licence under the 2025 PSP/PSO Rules for full-scope payment services.
Who it suits: Established payment service providers, acquirers, remittance operators serving the Egyptian market without category-B transaction caps. Foreign PSPs serving Egyptian residents from abroad.
Covers: All defined payment services under the LPPS — payment account services, payment instrument issuance, money remittance in EGP, acquiring, payment initiation, and account information.
Operational requirement: Egyptian joint stock company (or foreign equivalent) registered in Egypt. Three-year strategic business plan. Unconditional financial guarantee. AML/CFT and KYC framework. Customer Complaints Handling Policy. Technical expertise, reputation, full disclosure of ownership and UBOs. Collaboration with a bank required. Fitness and propriety assessments of key officials. CBE Board may exempt certain institutions from some conditions based on experience and feasibility study.
Headline figures
- Minimum paid-up capital: EGP 30 million (about USD 567,000)
- Decision timeline: 90 days from complete application
- Transition period for existing PSPs: 12 months to June 2026
- Average monthly transaction cap: none (full scope)
- Financial guarantee: unconditional, irrevocable
- Strategic business plan: 3-year minimum
CBE Payment Service Provider Licence – Category B
Best for limited-scope PSPs within EGP 750 million monthly transaction cap.
What it is: CBE licence for payment service providers with limited scope and monthly transaction value capped.
Who it suits: Smaller or growth-stage PSPs operating within the EGP 750 million monthly threshold.
Covers: All payment services except payment initiation services and account information services.
Operational requirement: Same as Category A, with the additional EGP 750 million monthly transaction cap.
Headline figures
- Minimum paid-up capital: EGP 10 million (about USD 189,000)
- Average monthly transaction cap: EGP 750 million (about USD 14.18 million)
- Decision timeline: 90 days
Account Information Service Provider / Payment Initiation Service Provider Licence
Best for AISP and PISP-focused operators.
What it is: CBE licence for account information services and payment initiation services.
Who it suits: Open-banking service providers, payment initiators, account aggregators.
Covers: Account information service and/or payment initiation service exclusively.
Headline figures
- Minimum paid-up capital: EGP 20 million (about USD 378,000)
- Decision timeline: 90 days
Payment System Operator (PSO) Licence
Best for entities operating clearing, settlement and routing infrastructure.
What it is: CBE licence under the 2025 Rules for entities operating payment-system infrastructure.
Who it suits: Payment networks, clearing houses, settlement systems, real-time gross settlement and switching platforms.
Covers: Operating infrastructure that enables clearing, settlement, or routing of transactions.
Operational requirement: Licensed by the CBE Board of Directors. Foreign PSOs equivalent to PFMI standards in home jurisdiction. Three-year strategic business plan. Unconditional financial guarantee. AML/CFT and KYC framework.
Headline figures
- Minimum paid-up capital: EGP 500 million (about USD 9.45 million)
- Decision timeline: 90 days
- Foreign PSO requirement: home-jurisdiction supervision equivalent to PFMI
Digital Bank Licence (CBE)
Best for digital-only banking operations.
What it is: CBE licence under Article 64 of Law No. 194 of 2020 for digital banks.
Who it suits: Digital-only banks (neobanks) seeking to serve Egyptian residents.
Covers: Banking activities conducted electronically, subject to standard banking licensing requirements with potential exemptions for digital banks.
Operational requirement: Same licensing requirements as traditional banks, with CBE Board discretion to exempt digital banks from the EGP 5 million minimum capital for local banks (EGP 5 million traditional; the digital bank requirement is set per institution). USD 150 million minimum for branches of foreign banks.
Headline figures
- Minimum capital (local digital bank): EGP 5 million (about USD 94,500) — subject to CBE exemption discretion
- Minimum capital (foreign bank branch): USD 150 million
Is there a gambling licence in Egypt?
Partial — for non-Egyptian passport holders only. Egyptian citizens are prohibited from gambling under the Penal Code (Articles 271 and 352) and Civil Code (Articles 739 and 740). Land-based casinos in tourist hotels are licensed by the Ministry of Tourism for foreigners only.
The legal framework:
- Egyptian Civil Code No. 131 of 1948, Articles 739 and 740: declares gambling and betting agreements void, with exceptions for sporting-event bets between participants and legally authorised lotteries.
- Egyptian Penal Code, Article 271 and Article 352: criminalises gambling, especially in physical venues.
- Law No. 371 of 1956: prohibits Egyptian citizens from gambling.
- Law No. 93 of 1973: legalised casinos catering to foreign tourists; Ministry of Tourism granted licensing authority.
- Law No. 8 of 2022 on Hotel and Tourism Entities, Article 24: confirms that gambling games may not be played in tourist facilities except by non-Egyptians, with royalties up to 50% of revenues.
- Law No. 175 of 2018: addresses certain gambling-related matters.
- Ministry of Tourism Decrees: regulate the operation and royalties of casinos in hotels.
Approximately 15 land-based casinos operate legally in Egypt — in Cairo (Omar Khayyam Casino at Cairo Marriott; Casino Semiramis at InterContinental) and resort towns (Sharm El Sheikh, Hurghada). All transactions are in foreign currency (USD or EUR); EGP not accepted at tables or cage. Minimum age 18 (often raised to 21 by venue policy).
Sports betting: an agreement of 2005 between the Egyptian National Post Organization and Intralot enabled nationwide sports betting via state infrastructure. State Lottery operates the Egyptian Lotto (launched 1976) through retail kiosks.
Horse racing: legal at Gezira Club (Cairo) and Alexandria.
Online gambling: unregulated. February 2026 saw a Parliamentary crackdown announced by MP Ahmed Badawy, head of the Communications and Information Technology Committee, blocking offshore operators (notably 1xBet) and preparing new legislation to permanently shut down non-compliant electronic betting apps and penalise users accessing banned platforms.
Land-Based Casino Licence (Ministry of Tourism)
Best for hotel-integrated casino operators in licensed tourist areas serving foreign passport holders.
What it is: Licence under Law No. 93 of 1973 and Law No. 8 of 2022 Article 24 granting the right to operate casino games in four- or five-star hotels in licensed tourist areas.
Who it suits: Hotel-integrated casino operators in Cairo, Sharm El Sheikh, Hurghada, Alexandria targeting foreign tourists. Approximately 15 casinos currently operate.
Covers: Casino table games (poker, blackjack, roulette, baccarat), slot machines, and other casino games at the licensed hotel. Access is restricted to non-Egyptian passport holders only; passport verification at entry mandatory.
Operational requirement: Casino must be located inside a four- or five-star hotel in a licensed tourist area. Mandatory passport verification on entry — non-Egyptians only. All transactions in foreign currency (USD/EUR); EGP not accepted. Age verification (18+, often 21+ in practice). Ministry of Tourism regulatory inspections. Royalty payment to government as set by Ministry of Tourism Decree (up to 50% of revenues under Law No. 8 of 2022).
Headline figures
- Application/licence fees: USD 50,000–100,000 (estimated)
- Licence term: 5 or 10 years
- Royalty cap: up to 50% of gambling revenues
- Casino tax (GGR): 20% (typical figure cited)
- Access: non-Egyptian passport holders only
- Currency: foreign currency only (USD/EUR)
- Hotel rating: 4-star or 5-star
- Active casinos: approximately 15
Costs and timelines at a glance
- Crypto licence: not available; prohibited under Article 206 of Law No. 194 of 2020
- Crypto penalty: imprisonment + EGP 1–10 million fine (about USD 19,000–189,000)
- PSP Category A minimum capital: EGP 30 million (about USD 567,000)
- PSP Category B minimum capital: EGP 10 million (about USD 189,000)
- PSP Category B monthly transaction cap: EGP 750 million (about USD 14.18 million)
- AISP / PISP minimum capital: EGP 20 million (about USD 378,000)
- PSO minimum capital: EGP 500 million (about USD 9.45 million)
- Digital Bank minimum capital (local): EGP 5 million (about USD 94,500), subject to CBE exemption
- PSP/PSO decision timeline: 90 days from complete application
- PSP/PSO transition period: to June 2026 (12 months from June 2025 issuance)
- Three-year strategic business plan: mandatory
- Unconditional financial guarantee: mandatory
- Casino licence fee (Ministry of Tourism, estimate): USD 50,000–100,000
- Casino royalty cap: 50% of gambling revenues
- Casino access: non-Egyptian passport holders only
- Casino currency: USD/EUR only
- Active casinos: approximately 15
- Online gambling: unregulated (February 2026 Parliamentary crackdown blocking offshore operators)
- Active CBE crypto licences: 0
- 3 million Egyptians estimated to own crypto despite the prohibition
Who Egypt suits and who it does not
Suitable for
- Established payment service providers and acquirers willing to fund EGP 30 million capital and accept full CBE oversight, including extraterritorial scope under Article 184
- Foreign PSPs from PFMI-equivalent jurisdictions that wish to formally serve Egyptian residents via CBE licensing rather than rely on grey-area access
- Payment system operators with EGP 500 million capital willing to operate clearing/settlement/routing infrastructure
- Digital banks and neobanks targeting Egypt's 110-million-strong population with CBE digital-bank authorisation under Article 64
- Hotel-integrated land-based casino operators in Cairo, Sharm El Sheikh, Hurghada, Alexandria willing to accept the non-Egyptian-only restriction and 20% GGR tax
- Open-banking, account information and payment initiation service providers under the EGP 20 million capital threshold
- Sports-betting operators willing to partner with the state-owned infrastructure (Egyptian National Post / Intralot)
- Lottery and prize-competition operators within state-monopoly arrangements
Not suitable for
- Crypto exchanges, custodians, brokers, OTC desks, wallet providers, token issuers, mining operators or NFT platforms — all activities are prohibited under Article 206; no licences have ever been granted and the trajectory is hardening, not softening
- Stablecoin issuers — captured under the Article 206 prohibition unless the CBE specifically authorises (none disclosed)
- Online casino, online sports betting, online poker, online lottery operators — actively blocked by the Telecom Regulatory Authority and subject to the February 2026 Parliamentary crackdown
- Operators wanting to target Egyptian-citizen players for any gambling product — gambling for citizens is criminalised under the Penal Code
- Payment service providers unwilling to register in Egypt as an Egyptian joint stock company or unable to provide an unconditional financial guarantee
- Crypto promotion or advertising activities — prohibited under Article 206 even if the underlying activity is offshore
- Cross-border PSPs that cannot meet PFMI-equivalent home-jurisdiction supervision
- Operators relying on EGP for casino settlement — only USD/EUR accepted
- Crypto mining operators — ASIC rigs are subject to seizure; mining is treated as creation of cryptocurrencies and prohibited under Article 206