As part of the Memorandum of Understanding (MoU) signed between the Central Bank of Egypt (CBE) and the Ministry of Communications and Information Technology (MCIT) to strengthen youth skills under the “Digital Egypt Builders Initiative” (DEBI), the “AI for FinTech” Hackathon has been launched under the umbrella of FinTech Egypt, an initiative of the CBE.
The Hackathon aims to empower DEBI students to address real-world challenges facing the banking sector by transforming them into innovative digital solutions using artificial intelligence (AI), data analytics, and advanced programming. The initiative supports the State’s broader digital transformation strategy and seeks to build a new generation of professionals capable of leading the future of FinTech innovation in Egypt.
A graduation ceremony marked the conclusion of the Hackathon, during which participating teams showcased their projects before a panel of experts and decision-makers. The event was attended by Ayman Hussein, First Sub-Governor for the Information Technology Sector at the CBE; Hoda Baraka, Advisor to the ICT Minister for Technology Talents Development; and Afdal Naguib, CEO and Managing Director of saib Bank.
In his remarks, Ayman Hussein affirmed that the Hackathon reflects the strategic partnership and ongoing cooperation between the CBE and the MCIT, aligned with the CBE’s FinTech and Innovation Strategy. He emphasised that the “Talent Development” pillar of the strategy focuses on qualifying and empowering Egyptian youth with the necessary technical and practical expertise to compete in local, regional, and international FinTech markets.
For her part, Hoda Baraka stressed that the collaboration underscores the importance of unified efforts among state institutions, the banking sector, and academia to nurture a new generation of technologically skilled professionals. She noted that initiatives like the Hackathon provide students with a dynamic platform to apply academic knowledge to real-world challenges, fostering innovation that contributes to Egypt’s digital economy.
Afdal Naguib described the Hackathon as a vital step toward developing future FinTech leaders in Egypt. He explained that it serves as a practical graduation project for many DEBI students, linking academic learning to market needs. Under the mentorship of saib’s FinTech management team and various bank departments, students gained hands-on experience solving real banking challenges.
Naguib added that winning teams will receive support to further develop their projects in a professional banking environment, along with cash prizes and employment opportunities for outstanding participants. He reaffirmed SAIB’s commitment to investing in young talent and integrating advanced AI technologies into Egypt’s financial services sector.
The Hackathon represents a key milestone in the CBE–MCIT partnership, reinforcing Egypt’s position as a regional hub for FinTech innovation and digital skill development.
