The Federation of Egyptian Banks issued an official statement completely denying any connection or relationship with the “GRA” platform, stressing that this platform is not associated with any of the banks operating in Egypt, which work under the supervision and control of the Central Bank.
The statement indicated that no licenses have been issued by the Central Bank to any of the companies of this platform, nor have accounts been opened in its name in any of the local banks.
The Federation clarified that its dealings are exclusively limited to financial institutions and banks officially licensed by the Central Bank of Egypt, reflecting its keenness to apply strict regulations and standards in the banking sector.
This statement comes amidst the spread of reports and rumors claiming a relationship between the Federation and the “GRA” platform, which prompted the concerned authorities to confirm the inaccuracy of these allegations.
The Federation of Egyptian Banks affirmed that these measures come within the framework of its constant keenness to maintain the transparency of financial transactions and the stability of the national banking system.
The Federation called on all parties to adhere to dealing with officially accredited banks and financial institutions, in order to preserve the financial system and ensure the conduct of financial operations in accordance with the regulations and laws in force in Egypt.
