CBE, EFSA sign agreement to enhance financial inclusion in Egypt

Hossam Mounir
2 Min Read

Governor of the Central Bank of Egypt (CBE) Tarek Amer and chairperson of the Egyptian Financial Supervisory Authority (EFSA) Sherif Samy signed an agreement to enhance cooperation between the two sides to support financial inclusion in Egypt.

According to Amer, a study is being conducted to measure the level of financial inclusion to identify the supply and demand on financial services and to improve the availability of such services.

He added that the results of the study will be the base for the preparation of future plans to enhance the financial inclusion of all segments of society and to adopt the necessary reform policies in cooperation with the parties concerned.

The signing of this agreement comes within the framework of the concern to provide accurate information on marginalised groups of society and non-beneficiary of financial services, as international reports indicate that the proportion of financial inclusion in Egypt is small compared to the rest of the region.

Lubna Helal, the deputy governor of the CBE, said earlier that Egypt will host an international conference on financial inclusion in Sharm El-Sheikh on 17 September.

According to the CBE, efforts taken in this regard will be presented during the conference, next to reviewing the position of Egypt on the supply side of financial services before the financial inclusion.

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