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Thursday, 14 September 2017

CBE to require banks to report breakdown of loan and deposit portfolios by gender of client?

The CBE is considering requiring banks to report the breakdown of their loan and deposit figures according to the gender of their clients, Deputy CBE Governor Lobna Helal says, according to Al Mal. The extra classification would improve the data and support the financial inclusion of females. Other key indicators and policies noted by Helal and CBE Governor Tarek Amer on the state of financial inclusion in Egypt, particularly as they pertain to women, include:

  • 9% of women in Egypt hold bank accounts. This would mean that men account for the overwhelming majority of the 32% of adults Tarek Amer said are banked.
  • Some 782 civil society organizations are have provided c.EGP 8 bn in financing to around 2.2 mn borrowers, 70% of whom were women. The default rate on those loans among women did not exceed 1%.
  • The CBE is working on developing a financial literacy curriculum in high schools and colleges with the ministries of education and higher education.

Women at the heart of Egypt’s financial inclusion policy: Financial inclusion for women was the highlight of Wednesday’s proceeding of the AFI Forum in Sharm. Deputy CBE Governor Lobna Helal and National Council for Women President Maya Morsy signed an MoU that targets empowering women financially and encouraging female entrepreneurship. The agreement will also push for setting up infrastructure for mobile payment.

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