Sawiris demands permission to open bank for entrepreneurs

CAIRO –7 November 2017: Egyptian businessman Naguib Sawiris demanded permission from the governor of the Central Bank of Egypt to allow him to open a new bank in order to fund and support entrepreneurs. Sawiris’ comments were made during the “Innovative Youth Experiences in Entrepreneurship” session of the World Youth Forum (WYF) on Tuesday.

“Entrepreneurs have not received enough funds from the Egyptian banks,” Sawiris said. He called on the CBE to pave the way for small business, simple industries and medium-sized enterprises in Egypt.

Sawiris stated that establishing bank was his childhood dream and he has worked hard to achieve it; adding that he obtained the license abroad after three years of efforts.

This session discussed methods to scientifically empower young people and to encourage them to establish their own businesses, as well as the role of communication and information technology in the field of entrepreneurship.

The WYF, which launched on Sunday, is a forum designed to give youth from all over the world the chance to engage in the development of the world. It is a chance to allow them to be heard as well by world leaders and influential individuals. Egypt’s first international youth event is set to run until November 10, bringing together 3,000 youth represented by 60 delegations from around the world.