Financial Inclusion

CBE reports 70.7% financial inclusion rate by end of 2023

Sun, 25 Feb 2024 - 11:35 GMT

According to the CBE, approximately 46.9 million Egyptian citizens now possess transactional accounts, including bank accounts, Egypt Post accounts, mobile wallets, and prepaid cards

CBE seeking to launch government-issued E-Pound to boost LE’s competitiveness

Tue, 09 Jan 2024 - 11:57 GMT

The Central Bank of Egypt (CBE) aims to strengthen monetary policy efficiency and the Egyptian pound’s competitiveness

CBE studies allowing opening bank accounts via mobile app in 2024

Tue, 21 Nov 2023 - 05:16 GMT

The new service will be provided through the Digital Financial Identity Company, to which the Central Bank of Egypt contributes a 55 percent share of the company’s capital, which amounts to 500 million pounds.

CBE increases prepaid cards & mobile banking transactions limits by 100%

Wed, 15 Nov 2023 - 04:48 GMT

For licensed micro-enterprises, daily transaction limits for financial inclusion accounts, prepaid cards, and mobile banking services have been raised from LE 40,000 to LE 80,000

CBE: 3.4M banking products launched in 2021 under financial inclusion

Thu, 02 Jun 2022 - 06:05 GMT

The bank detailed in a statement issued Thursday that such results reflected the bank’s remarkable activities and efforts on financial inclusion to increase the number of beneficiaries of banking and financial services.

Financial inclusion in Egypt rises 115% during 6 years

Tue, 26 Apr 2022 - 06:27 GMT

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.

Banking services related to financial inclusion up 110% over past 5 years

Tue, 15 Mar 2022 - 02:38 GMT

Loqman said that E-commerce transactions in Egypt reached about LE 200 billion.

CBE deputy governor: Financial inclusion rates up 110% in last 5 years

Mon, 14 Mar 2022 - 07:14 GMT

Addressing a conference on the future of small and medium-sized enterprises (SMEs), which is organized by the Union of Arab Banks (UAB) in the Upper Egyptian city of Luxor, Loqman said the CBE is seeking to equally offer financial services to the majority of citizens across Egypt.

UNCTAD showcases potential of African Continental Free Trade Agreement

Sun, 19 Dec 2021 - 07:25 GMT

Although the free trade part entails removing tariffs, that is not all.

Digitalization spearheads Egypt's Financial inclusion drive

Thu, 06 May 2021 - 02:17 GMT

The CRR provides in-depth analysis of Egypt’s response to the pandemic in an easy-to-navigate and accessible format, focusing on key data and infographics relating to its socio-economic landscape.

Egyptian pres. instructs CBE to launch real estate financing program offering 30-year loans with 3%-interest max

Mon, 15 Mar 2021 - 10:35 GMT

The program is targeted at low and middle income citizens.

When are entities obliged to use cashless payment methods?

Thu, 03 Dec 2020 - 12:49 GMT

There is a global trend to adopt policies that reduce cash dealings, and encourage the use of banking e-financial methods.

Egypt's central bank eases procedures to open accounts for individuals, micro enterprises

Mon, 05 Oct 2020 - 11:42 GMT

In a statement, the bank said the new procedures allow new clients to open savings and current accounts by just a valid national ID number card.

President Sisi inaugurates 23rd edition of ‘CAIRO ICT’

Sun, 01 Dec 2019 - 10:10 GMT

Cairo ICT held on December 1-4 at Al Manara International Conferences Center on the slogan “The Digital Experience.”

CBE gov.: We give top priority to spurring financial inclusion rates

Mon, 16 Sep 2019 - 02:32 GMT

Amer stressed as well the need for providing a supportive environment, through backing entrepreneurs and promoting innovative projects, as well as strengthening the business climate.

Egypt steadily moving towards digital transformation: Finance Ministry

Sun, 11 Aug 2019 - 08:35 GMT

Thanks to the government's electronic payment and collection system, launched in May, government services have become more accessible to citizens at their actual prices.

CBE launches Enhancing Financial Inclusion program with funding of €3.2M

Fri, 23 Nov 2018 - 08:43 GMT

The launch of the program came in cooperation with the European Union and the German Embassy in Cairo.

Toward a Cashless Economy

Thu, 27 Sep 2018 - 08:00 GMT

Egypt has taken some serious steps toward financial inclusion, but there are still several barriers on the road to fully achieving it.

Egypt uses electronic payment of dues exceeding LE 100K

Wed, 27 Jun 2018 - 01:29 GMT

The decision allows the payment of dues less than LE 100,000 by checks with the prohibition of payment of any financial dues in cash except for amounts less than LE 5,000.

EIB provides €20M to support Egypt's SMEs

Mon, 25 Jun 2018 - 07:25 GMT

The European Investment Bank (EIB) and Bank of Alexandria (Alexbank) signed a financing agreement worth €20 million to support small and medium-sized enterprises.


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