The Central Bank of Egypt hosted Alliance for Financial Inclusion (AFI) Chief Executive Officer Alfred Hannig to review cooperation on financial inclusion, including access to international best practices and the exchange of expertise with other central banks and regulators. The Central Bank of Egypt highlighted progress achieved with the banking sector and relevant ministries and authorities, focused on economic empowerment for women, youth, persons with disabilities, micro, small and medium-sized enterprises, and entrepreneurs. It attributed the increase in Egypt’s financial inclusion rate to 74.8% by end-2024 to an enabling legislative and regulatory ecosystem and the launch of incentive initiatives, while AFI noted it is collaborating with the Central Bank of Egypt to share this experience with other countries through peer-to-peer knowledge exchange. The Central Bank of Egypt joined AFI in 2013. AFI, established in 2009, comprises over 90 financial institutions, central banks, and regulatory bodies from 83 countries and works on tools and technical exchange to support members’ policy and reform implementation.

Original source View in tracker