IslamicFinance.de

The successful roll-out so far of a new “smart card” system to distribute subsidized bread has been a major achievement for Egypt’s government, saving money while earning praise from families who no longer have to wake early to fight for loaves. While the government still has a long way to go to roll out the new system countrywide, success so far marks an important civilian achievement for the president. The cards have so far been introduced in 17 of Egypt’s 29 provinces and consumption in those areas is already down between 15 to 35 percent. However, there are still worries whether the new smart card system is air-tight enough to squeeze out middlemen working the black market.