By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
DailynewsegyptDailynewsegypt
  • Home
  • Business
    BusinessShow More
    Al-Sisi rejects claims of militarising teachers
    Al-Sisi rejects claims of militarising teachers
    September 27, 2023
    Egypt, Switzerland discuss improving economic ties, investment opportunities
    Egypt, Switzerland discuss improving economic ties, investment opportunities
    September 27, 2023
    Egypt aims to boost private sector’s role in economic activity to 65% in medium term: Finance Minister
    Egypt aims to boost private sector’s role in economic activity to 65% in medium term: Finance Minister
    September 27, 2023
    City Farm targets $50m in sales of frozen agricultural products in American market
    City Farm targets $50m in sales of frozen agricultural products in American market
    September 27, 2023
    Smoking alternatives could reduce cigarette use, save lives: NCI study
    Smoking alternatives could reduce cigarette use, save lives: NCI study
    September 26, 2023
  • Politics
    PoliticsShow More
    Egypt denounces Houthi attack on Bahraini forces in Saudi Arabia
    Egypt denounces Houthi attack on Bahraini forces in Saudi Arabia
    September 27, 2023
    Presidential election in Egypt set for 10-12 December
    Presidential election in Egypt set for 10-12 December
    September 25, 2023
    Defence Minister meets NATO Military Committee chief
    Defence Minister meets NATO Military Committee chief
    September 25, 2023
    Egypt, Jordan, and Iraq discuss economic, political cooperation in New York
    Egypt, Jordan, and Iraq discuss economic, political cooperation in New York
    September 24, 2023
    Al-Sisi highlights opportunities for mutual benefit with China
    Al-Sisi highlights opportunities for mutual benefit with China
    September 24, 2023
  • Interviews
    InterviewsShow More
    Microsoft Egypt aims to provide advanced AI models, build solid AI ecosystem: Mirna Arif
    Microsoft Egypt aims to provide advanced AI models, build solid AI ecosystem: Mirna Arif
    September 18, 2023
    I love privacy, and I am not concerned about competition: Yasmine Sabry
    I love privacy, and I am not concerned about competition: Yasmine Sabry
    September 14, 2023
    Sustainability, digital transformation at the heart of our strategy: Heidelberg Materials Egypt
    Sustainability, digital transformation at the heart of our strategy: Heidelberg Materials Egypt
    September 12, 2023
    India welcomes Egypt's BRICS membership: Boosting trade, investment, and access to strategic commodities
    India welcomes Egypt’s BRICS membership: Boosting trade, investment, and access to strategic commodities
    September 11, 2023
    The box office is not a measure of success: Basma Hassan
    The box office is not a measure of success: Basma
    September 6, 2023
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Reading: Egypt records 131% growth in financial inclusion rates from 2016 to June 2022: CBE
Share
Notification
Latest News
Egypt denounces Houthi attack on Bahraini forces in Saudi Arabia
Egypt denounces Houthi attack on Bahraini forces in Saudi Arabia
Egypt Politics
Al-Sisi rejects claims of militarising teachers
Al-Sisi rejects claims of militarising teachers
Business
Egypt, Switzerland discuss improving economic ties, investment opportunities
Egypt, Switzerland discuss improving economic ties, investment opportunities
Business
Egypt aims to boost private sector’s role in economic activity to 65% in medium term: Finance Minister
Egypt aims to boost private sector’s role in economic activity to 65% in medium term: Finance Minister
Business
City Farm targets $50m in sales of frozen agricultural products in American market
City Farm targets $50m in sales of frozen agricultural products in American market
Business
Aa
Aa
DailynewsegyptDailynewsegypt
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Have an existing account? Sign In
Follow US
  • Advertise
© 2023 DNE News. All Rights Reserved.
Dailynewsegypt > Blog > Business > Egypt records 131% growth in financial inclusion rates from 2016 to June 2022: CBE
Business

Egypt records 131% growth in financial inclusion rates from 2016 to June 2022: CBE

Hossam Mounir
Last updated: 2022/12/02 at 1:41 PM
By Hossam Mounir 3 Min Read
Share
Egypt records 131% growth in financial inclusion rates from 2016 to June 2022: CBE
SHARE

The Central Bank of Egypt (CBE) announced in a statement on Sunday that the country’s indicators point to a significant increase in financial inclusion rates from 2016 to June 2022, achieving a growth rate of 131%.

The CBE clarified that the total number of citizens who have accounts that enable them to conduct financial transactions amounted to 39.6 million, which is equivalent to about 60.6% of citizens 16 years and over.

Furthermore, it earlier announced the formulation of the Financial Inclusion Strategy (2022-2025), which aims to enhance the financial inclusion of society and achieve economic growth within the framework of the efforts made at the state level to achieve the economic empowerment for citizens and companies as per the UN sustainable development goals (SDGs) and Egypt’s 2030 Vision.

Additionally, it said that the strategy was prepared on a scientific basis based on the results of the field survey of financial services, which was carried out on a representative sample of individuals and medium, small, and micro enterprises (MSMEs) within the formal and informal economies in cooperation with the Central Agency for Public Mobilisation and Statistics and with technical support from the EU and the German Agency for International Cooperation (GIZ), which reflects the strategic partnership with development partners.

The strategy is based on four main axes that are being worked on in a sustainable way, the first of which is financial education and the protection of customer rights, then diversification in banking and non-banking financial services and products according to the needs of customers, creating a work environment for MSMEs and entrepreneurs, and digital financial services.

The CBE pointed out that this comes within the framework of its keenness to cooperate with all state institutions with the aim of providing banking services to all segments of society with fairness, quality, and appropriate cost and empowering them economically, in addition to the governance of control over banking entities in a way that supports the strength of the banking system, promotes sustainable economic growth, and contributes to the development of the rates of access of citizens and MSMEs to financial services and financing by defining a set of internationally recognised indicators.

You Might Also Like

Al-Sisi rejects claims of militarising teachers

Egypt, Switzerland discuss improving economic ties, investment opportunities

Egypt aims to boost private sector’s role in economic activity to 65% in medium term: Finance Minister

City Farm targets $50m in sales of frozen agricultural products in American market

Smoking alternatives could reduce cigarette use, save lives: NCI study

TAGGED: CBE
Share this Article
Facebook Twitter Email Print
Previous Article 1st Egypt Water, Waste, and Infrastructure fair kicks off on Sunday 1st Egypt Water, Waste, and Infrastructure fair kicks off on Sunday
Next Article Irrigation Minister discusses Climate-Water Initiative with Egypt’s permanent representative to UN Irrigation Minister discusses Climate-Water Initiative with Egypt’s permanent representative to UN
Ad image
Ad image

Stay Connected

Facebook Like
Twitter Follow
Instagram Follow
Youtube Subscribe

Latest News

Egypt denounces Houthi attack on Bahraini forces in Saudi Arabia
Egypt denounces Houthi attack on Bahraini forces in Saudi Arabia
Egypt Politics
Al-Sisi rejects claims of militarising teachers
Al-Sisi rejects claims of militarising teachers
Business
Egypt, Switzerland discuss improving economic ties, investment opportunities
Egypt, Switzerland discuss improving economic ties, investment opportunities
Business
Egypt aims to boost private sector’s role in economic activity to 65% in medium term: Finance Minister
Egypt aims to boost private sector’s role in economic activity to 65% in medium term: Finance Minister
Business
//
Egypt’s only independent daily newspaper in English. Discuss the country’s latest with the paper’s reporters, editors, and other readers.

Quick Link

  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle

Sign Up for Our Newsletter

Subscribe to our newsletter to get our newest articles instantly!

© 2023 DNE News. All Rights Reserved.

Join Us!

Subscribe to our newsletter and never miss our latest news, podcasts etc..

Zero spam, Unsubscribe at any time.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?