The Central Bank of Egypt (CBE) has launched in November its financial inclusion strategy for 2022-2025, which sets objectives for financial inclusion in the country. Egypt’s financial inclusion rate — the percentage of citizens above the age of 16 who hold a bank account, mobile wallet, or pre-paid card — has grown 131% between 2016 and 2022. 40 million adults, around 60.6% of Egyptians were banked by June 2022, up from 17.1 million in 2016, the report says. More than 56% of Egyptian adults — nearly 37 million people — were banked at the end of 2021, up from almost 53% the year before.
The CBE aims to double its plans to push financial inclusion by 2025 through amending legal and regulatory frameworks, driving growth in fintech and digital financial infrastructure, ensuring the availability of sustainable finance and a stable economic environment.
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