The Central Bank of Egypt (CBE) has outlined a 2022-2025 financial inclusion strategy meant to achieve economic growth.
The strategy is part of state efforts to economically empower citizens and companies alike, and in line with the sustainable development goals and Egypt’s 2030 vision, the CBE said in a statement on Sunday 9/10/2022.
The CBE made it clear that its strategy is based on field surveys that covered individuals, small and medium-sized enterprises (SMEs) and micro-sized projects; i.e. the formal and informal economies.
The strategy involves four points of action: financial education, protection of clients’ rights, diversified financial products (banking and non-banking) and the creation of a business-friendly environment.
Part of the plan is about good governance with the aim to have a better control over banking entities, the CBE said, adding that this should help boost growth of the sustainable economy.
Source: State Information Service Egypt