Egypt Ministry of Housing activates electronic wallets for foreign investors

The Egyptian Ministry of Housing, Utilities and Urban Communities has launched an electronic wallet system for companies registered on the New Urban Communities Authority’s foreign investment portal, effective September 17, 2026.

Under the new system, each registered company will be assigned a unique, independent electronic wallet code. These wallets are designed to receive all bank transfers via the SWIFT system. This measure aims to streamline financial procedures, ensure funds are directed to the correct accounts, and reduce delays or errors in fund accreditation.

Officials noted that companies must transfer SWIFT values directly to their specific wallet codes rather than using land reservation codes. The deadline for charging these wallets and accrediting SWIFT transfers for use in upcoming offerings is October 31, 2026. Funds available in these wallets will be ready for use starting with the November 2026 offerings.