CAIRO - 26 April 2022: The Central Bank of Egypt (CBE) has issued the main indicators of financial inclusion, which contribute to following up on the development of the use of financial services and products for all segments of society in a way that supports achieving sustainable growth and economic stability.
The CBE statement confirmed, Tuesday, that the indicators showed a significant increase in the rates of financial inclusion during the past six years, achieving a growth rate of 115 percent.
It indicated that the total number of citizens who have accounts that enable them to conduct financial transactions - which include accounts in banks, Egypt Post, mobile phone wallets or prepaid cards - reached 36.8 million citizens, equivalent to 56.2 percent of the total citizens aged 16 and over, who numbered 65.4 million, by the end of 2021.
In terms of women’s financial inclusion, indicators showed a jump in the number of women who own financial accounts, reaching 16 million women at the end of 2021, with a growth rate of 171 percent compared to 2016.
The number of prepaid cards jumped to 39,883 cards per 100,000 citizens, while the number of phone wallets reached 38,505 wallets per 100,000 citizens.
Indicators indicate the development of the number of financial access points - which includes bank branches, Egypt Post, microfinance institutions, in addition to automated teller machines, electronic points of sale and payment service providers - to reach 1037 points per 100,000 citizens.
The issuance of the main indicators of financial inclusion by the Central Bank effectively contributes to a good understanding of the Egyptian market and the behavior of citizens, which helps to develop policies that support their economic empowerment.