Egypt's Prime Minister and Minister of Housing and Development Mostafa Madbouli - Press Photo Egypt's Prime Minister and Minister of Housing and Development Mostafa Madbouli - Press Photo

PM: Govt keen on turning Egypt into financial technology hub

By: MENA
Mon, Jun. 17, 2019
CAIRO - 17 June 2019: Prime Minister Moustafa Madbouli stressed on Monday the Egyptian government's keenness on encouraging digital transformation in the financial services sector to turn Egypt into a main hub for financial technology in Africa and the Arab world.

Addressing Seamless North Africa 2019 conference, Madbouli said Egypt witnessed over the past five years an economic progress that was translated in the increase of growth rates, volume of cash reserves and stability of monetary and financial policies.

This economic progress was not only sensed by the government but by international financial institutions as well, he added.

He added that the government put into consideration social justice when carrying out economic reforms.

The government is convinced of the importance of financial technology and boosting innovation that's why the Central Bank of Egypt has been prompt to draft a an effective Fintech strategy, the premier said.

He said the conference comes as part of Egypt's efforts to achieve digital transformation and financial inclusion.

As the conference brings together a host of world experts in the domain of financial technology, Madbouli hoped it will come out with recommendations that benefit Egypt, North Africa and the Arab region to improve and automate the delivery and use of financial services.

Egypt is hosting Seamless North Africa conference for the second year in a row. Seamless is North Africa’s biggest, boldest and best event covering payments and financial services innovation.
 
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