Egypt hosts ‘FinTech conference’ for 1st time



Tue, 06 Feb 2018 - 09:00 GMT


Tue, 06 Feb 2018 - 09:00 GMT

FILE: Tarek Amer Governor of CBE

FILE: Tarek Amer Governor of CBE

CAIRO – 6 February 2018: Egypt hosts the financial technology “Seamless North Africa FinTech” conference between February 6 and 7, 2018, said Egypt’s central bank in a statement on Friday.

The conference encompasses three key pivotal issues: FinTech, payments and e-commerce, according to the statement.

“Seamless North Africa” aims to bring together different players, such as financial institutions, startups, venture capital, accelerators and incubators, to establish an integrated FinTech- ecosystem, the statement showed.

The Governor of the Central Bank of Egypt, Tarek Amer , will inaugurate the conference, in the presence of a number of ministers and banking sector leaders and prominent officials.

It hosts over 500 international and local participants, 50 global experts in FinTech and six large companies that will exhibit the latest innovations in the FinTech industry from across the globe, ready to be launched in the Egyptian market.

“Hosting this conference in Egypt delivers an important and direct message about the unique opportunities available for this growing industry in the promising Egyptian market,” Governor of the Central Bank of Egypt Tarek Amer said.

Amer added that the FinTech conference represents the starting point toward the growth of the usage of FinTech applications in Egypt, led by the Central Bank of Egypt.

Amer pointed out that FinTech is one of the key pillars of financial inclusion. In comparison to traditional financial products and services, FinTech products and services are faster, more efficient and cost-effective, and hence enabling a larger number of individuals to access and benefit from financial services.

A competition with a cash price of LE 250,000 is set to be held on the sidelines of the conference, bringing together local and international startups to promote creative ideas to revamp Egypt’s FinTech sector. The winners will also receive a free invitation for the next “Seamless” conference in Dubai.

Financial Technology “FinTech” describes a business that aims at providing financial services by making use of software and modern technology.



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