The head of the Planning and Budget Committee in the Egyptian House of Representatives, Fakhry al-Feki, said that Egypt plans to link its Meeza network with the Russian Mir system for payment in rubles by the end of 2022.
Feki, a former member of the Board of Directors of the Central Bank of Egypt, said that this step comes as part of a plan from the CBE and upon presidential directives to enhance commercial transactions, reduce deficit and boost exports.
RT, the Russian news television network, reported Feki as saying that linking the Meeza network with the Russian Mir system helps support the payment of the wheat bill for Moscow.
Feki explained that Mir is a Russian bank card that operates using the ruble payment system, which was launched in 2015 after some Russian banks faced problems with the companies Visa and MasterCard, due to Western sanctions imposed against Moscow.
The Meeza system is an Egyptian payment card bearing the logo of the local network for payments through Egypt Banks 123 Company.
Feki explained that activating the link between Mir and Meeza would allow easier dealing in Russian rubles, which would support the payment of Russian wheat bills, as well as support the revitalization of Russian tourism in Egypt, where the tourist can deal in rubles anywhere in Egypt.
The Mir card is now approved in more than 10 countries, namely Turkey, Vietnam, Armenia, Uzbekistan, Belarus, Kazakhstan, Kyrgyzstan, Tajikistan, South Ossetia and Abkhazia.