SWIFT will host the first Business Forum Egypt in Cairo on 20 March under the patronage of the Central Bank of Egypt (CBE). The event brings together Tarek Fayed, sub-governor of the CBE, and senior representatives from Cairo’s financial industry to discuss the most significant issues facing the region.
CBE governor Tarek Amer said that the SWIFT Business Forum offers an ideal opportunity to discuss the most important issues faced by Egypt’s financial community in an era of change. “As we continue to reform the banking sector, it is critical to remain an integral part of the global community, supporting compliance with local and international regulatory best practice and driving innovation in our products and services,” he added.
The agenda focuses on the key challenges and opportunities facing Egypt’s financial community. Discussions with leading industry speakers alongside SWIFT experts, regulators, and policymakers will focus on Egypt’s economic outlook, compliance, de-risking, FinTech, innovation, and cyber risk in an interconnected world.
Khaled Moharem, head of Middle East and North Africa at SWIFT, said that there is huge potential for financial sector growth and development in Egypt. He noted that SWIFT is working closely with the CBE to deliver the latest technologies to Egyptian banks and to help them make the most of these opportunities. “This is an ideal time to bring together participants from across the industry for discussion about the topics that really matter to the Egyptian banking and financial community,” he added.
The list of confirmed speakers primarily includes a number of high banking and finance sector officials.
Abdel Hamid Soliman, SWIFT’s User Group chairperson and former IT director at Misr Iran Development Bank Egypt, said that SWIFT plays an instrumental role in the region’s financial markets and is a trusted partner in Egypt.
Sessions will look at the impact of financial crime compliance regulations in Egypt and analyse the main global and regional trends affecting banks in the country. Delegates will discuss the practical consequences of regulations for banks, and look at how banks can overcome the challenges of de-risking.
The sessions will also ask how financial institutions are responding to new challenges and harnessing the potential of innovative technology to better serve their customers. And they will also look at what SWIFT is doing to assist the community in defending its territory.
Participants will discuss what banks need to do to protect themselves from the ever-growing cyber threat.