Egyptian banks step up cyber security upgrades as deposits reach LE15.3tn

CAIRO - 29 JANUARY 2026: Mohamed El-Etreby, chairman of the Union of Arab Banks and CEO of the National Bank of Egypt, said Egyptian lenders are continuously upgrading their IT systems and cyber security to keep pace with rapid technological change and strengthen readiness against emerging risks.

Speaking at the Second Arab Fraud Combating Conference in Luxor, El-Etreby said the sector’s expanding balance sheet reflects solid banking performance indicators, noting that total deposits at Egyptian banks have risen to LE15.3 trillion, while banking sector assets have climbed to LE24 trillion.

El-Etreby warned that advances in digital technology and artificial intelligence are reshaping the landscape of financial and economic crime, requiring a proactive, integrated strategy that combines stronger cyber defences with wider public awareness. He stressed the need to deepen trust with customers, expand awareness programmes, and reinforce business continuity and rapid recovery plans as core elements of banks’ defensive posture.

The Union of Arab Banks is holding the conference in Luxor from Jan. 29 to 31, bringing together a broad mix of stakeholders, including central banks, regulators, financial institutions, and international organisations, to discuss evolving fraud threats and practical ways to contain their impact on the Arab banking industry.

Conference topics include strengthening transaction monitoring and policy frameworks, improving protection of digital payment systems, expanding training for staff and customers, and reinforcing coordination between anti-fraud functions and anti-money laundering efforts, as well as contingency planning for cyberattacks.